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31850026
31850027

108 North Franklin Street, Watkins Glen, NY 14891

KW
NY 40WI0847511
SL
NY 10301219370
$1,450,000
44 days on market
Updated 44 days ago

108 North Franklin Street

Details
APN 442401-065-045-0001-013-000-0000
Property Type Mixed Use, Multifamily (+1)
Sub Type Apartment Building, Restaurant (+1)
Square Footage 12,596
Units 8
NOI $123,300
Occupancy 100%
Tenancy Multi
Year Built 1892
Buildings 1
Stories 3
Acreage 0.120
Zoning Commercial/Mixed Use
Investment Type Stabilized
Ground Lease No
Ownership Fee Simple
Sale Condition N/A

Mixed Use | 12,596 SqFt

Marketing description

OPPORTUNITIES LIKE THIS DON'T COME OFTEN IN THE HEART OF WATKINS GLEN! Known to locals as the "House of Hong" building, this property is a staple of the downtown landscape. You can own a piece of Watkins Glen history with this well maintained, mixed-use powerhouse. Historically known as the "Watkins Hotel" and located just two blocks from Seneca Lake, this building offers a rare blend of historical charm and modern financial stability. The first floor features a well-established bar and restaurant with a long-term lease. The operator covers all utilities and utilizes the basement for ample storage. The second and third floors house 7 fully occupied, stylish apartments. Renovated within the last decade, these units offer tenants coin operated laundry and private outdoor seating. Landlord covers cable, Wi-Fi, trash, water and sewer, tenants pay their own electric. Tenants enjoy ample street parking on 1st and 2nd Streets and the convenience of being close to everything. The second floor boasts one of only two outdoor seating areas that truly overlook the vibrant Franklin Street corridor. With a proven track record of 100% occupancy and prime location, this is the ultimate "set and forget" investment. Showings begin March 2nd. Interior photos are a sample from when renovations were done. Please ask your agent for the Rental Information Sheet.

Investment highlights

  • Known to locals as the "House of Hong" building, this property is a staple of the downtown landscape
  • Historically known as the "Watkins Hotel" and located just two blocks from Seneca Lake
  • The first floor features a well-established bar and restaurant with a long-term lease
  • The operator covers all utilities and utilizes the basement for ample storage
  • The second and third floors house 7 fully occupied, stylish apartments
  • Renovated within the last decade, these units offer tenants coin operated laundry and private outdoor seating
  • The second floor boasts one of only two outdoor seating areas that truly overlook the vibrant Franklin Street corridor
  • With a proven track record of 100% occupancy and prime location, this is the ultimate "set and forget" investment

Listing Contacts

KW
NY 40WI0847511
SL
NY 10301219370

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$123,300.00
$10,275.00/mo

Valuation Metrics

0
DSCR
8.5%
Cap Rate
8.5%
ROI

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Additional Information

Name
Ken Wilson
License
40WI0847511
Brokerage
Franzese Real Estate
Brokerage Phone
607-210-6100
Title
Licensed Real Estate Salesperson
Brokerage Address
607 North Franklin Street
Name
Shawna Lott
License
10301219370
Brokerage
Franzese Real Estate
Brokerage Phone
607-210-6100
Title
Real Estate Associate Broker
Brokerage Address
607 North Franklin Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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