Sharon FronkRealtor® · Howard Hanna
LoadingGloversville, NY 12078 · Fulton County
This is a commercial business property in Gloversville, an 8,100 square foot single story brick and block building with a full basement, built in 1933 on a half acre lot. The remarks describe a long established government lease running over 20 years, currently fixed through November 2028 with a five year option, plus a second building leased as a laundromat. Two office spaces of roughly 2,000 and 900 square feet sit vacant and need updates. The listing cites rounded gross income near $163k and notes income and expense detail is available on request. No HOA.
Main building: 1 story 8100 +/-[/] brick and block building with full basement. Long established government lease (over 20 years) with existing 10 year lease (fixed till 11/2028) then with 5 year opt. There are also two office vacancies (2,000 [/] and 900 [/]) that require updates, the landlord over the last 15 years has opted not to rent. The second building is estimated at 2,000 [/] and is leased as a laundromat and is halfway into the second 5 year option with one remaining. Income and expenses upon request, highly qualified buyers only. Rounded actual gross is $163k and net before dept $90k rounded. It does not account for the two empty office spaces. A great investment especially for a owner who needs an office as well as wanting substantial income.
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Gloversville is in Fulton County, NY. There are currently 89 active listings here, ranging from $15,000 to $1,300,000. Listings in this address fall under the Gloversville school district. Priced 308% above the Gloversville median of $195,000.
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Coldwell Banker Prime Properties · Listed by Clayton J Sitterly (5409)
Contact: 518-774-6635
MLS #202612757 · Source: Global MLS, Inc.
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