KINGSTON,CITY NY - ID: 20213508
On the Market
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  • Price: $2,350,000
  • Sq. Feet: 15,964
  • Acreage: 0.38
  • Year Built: 1950
  • School District: KINGSTONCONSOLD
  • CONTACT
    Grist Mill Real Estate
    (800) 664-5503
    gristmill@gristmillrealestate.com
Property Type: Mixed Use

Description: Four story brick building features well established restaurant on the first and second floor measuring a total of +/- 9, 100 square feet and then 6 luxury apartments on the 3rd and 4th floor with laundry. The restaurant offers two spacious wooden bars and two kitchens (one on each floor) and a wood fire pizza oven. Part of, and connected is recently expanded Bella Piazza catering/dining area which includes a covered outdoor patio, a cozy gas fireplace and +/- 12 ft. ceilings. The 6 apartments on the third and fourth floor have all separate utilities and elevator access, rents are all well below market rate and each tenant is month to month tenancy. Building is fully sprinklered from the basement to the top floor with Main and back stairways. Iconic restaurant has been in business for 13+ years and will be leasing back +/- 20 year lease. Exterior offers front outdoor patio with a glass enclosed main dining area. Municipal parking lot is across the street which can accommodate 100+ cars. Great investment opportunity. See associated docs for additional info and income and expense at asking price. Current owner of the building/restaurant will also sell the restaurant business if desired.
Restaurant tenant pays all their own utilities including water and maintains snow removal on sidewalk. Also, pays +/- 50% of the garbage. The first and second floor of the restaurant offer full seating (indoor/outdoor) with two full bars, catering room and 6 bathrooms in total. The apartments are on the 3rd and 4th floor each floor is about 3, 400 square feet and have 3 apartments on each floor, 1 bed, 2 bed and 3 bed on each floor Each apartment has 1 bathroom but the 3 bedroom units have 1 1/2 baths. Elevator is older but on a service contract with Otis Elevator and in good working order, uses as a cargo elevator for apartments and the restaurant. In the main part of the restaurant the owner just spent about $30, 000 updating all the ac in the last +/- 24 months. Restaurant new additional to the right is completely 100% brand new/renovated in the last 24 months. Apartments were fully renovated in +/- 2005 and are all in very good/similar condition. There is central AC in some apartment and some of the smaller ones have a window ac. Main Roof the owner thinks is about +/- 5 years old and J&A roofing did the roof we believe. We are not aware of any pointing needed on the building. Overall the building is in very very good condition The second floor roof-top deck offers panoramic views and +/- 2, 800 square feet of seating, another full bar and bathroom, about half of the area is enclosed with glass sliding doors and a covered roof. Hours of operation: Tuesday-Friday 4:00-9:00 pm. Saturday & Sunday 1:00-9:00 pm. Closed Monday.


FEATURES:
NUMBER OF UNITS: 7
ELEMENTARY SCHOOL: G.Washington K-4
WATER: 1518
ZONE: Com
LOT DIMENSIONS: 192x85
ELECTRICITY: 200 Amps
LOT FEATURES: Level, Landscaped
LOT/SITE: City
ROAD FRONTAGE: City Street

Listing courtesy of: Berardi Realty, Berardi Realty / Listing Agents: Gregory Berardi, Megan Rios
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