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CB Faith Broker

cbfaithbrokerbroker@chime.me

$ 260,000

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12-24 N Main ST Gloversville, NY 12078

36,494 SqFt

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Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

Square Footage 36,494 sqft

Price per Sqft $7

MLS Listing ID R1714451

Construction Status Existing

HOA Y/N No

Year Built 1950

Annual Tax Amount $16,200

Lot Dimensions 1220X590

Property Description

Exceptional 3-building redevelopment and investment opportunity in the heart of Downtown Gloversville with a $750,000 grant already secured toward redevelopment. Approximately half of the property has been renovated and is ready to rent now as commercial/office space, creating potential for income while the new owner completes redevelopment of the remaining portions. Located within an Opportunity Zone and surrounded by ongoing downtown investment and revitalization, this property offers existing improvements, substantial secured funding, flexible space and long-term value-add potential. Formerly a bank, the property features striking architecture and one-of-a-kind character, with the original bank vault and safe deposit boxes still in place. The impressive main bank area offers soaring ceilings, a skylight, mezzanine level, large windows and an expansive open interior that could become a truly unique destination. Potential uses include a brewery, restaurant, event venue, market hall, entertainment destination, co-working facility, professional offices, retail, boutique hotel or mixed-use redevelopment, subject to approvals. In addition to the $750,000 grant already secured, buyers may have opportunities to pursue additional local and state economic-development funding, including programs connected with Gloversville's Downtown Revitalization Initiative (DRI) and other redevelopment and revitalization programs, subject to availability and eligibility. Multiple entrances and flexible floorplans allow the three buildings to support multiple tenants, businesses or uses. Residential conversion potential may also exist for apartments, lofts or live/work spaces with acquisition of nearby parking and required approvals. Exterior improvements are needed, including portions of the façade and flat roof. With three buildings, $750,000 in secured grant funding, approximately half the property rent-ready, Opportunity Zone location, incredible architectural character and numerous redevelopment possibilities, this is a rare opportunity to create a landmark destination in Downtown Gloversville.

Location

State NY

County Fulton

Area Gloversville-170500

Zoning C

Rooms

Basement Full

Interior

Heating Gas, Forced Air

Flooring Carpet, Linoleum, Vinyl

Inclusions Building Only, Equipment

Fireplace No

Exterior

Utilities Available Natural Gas Available, Sewer Connected, Water Connected

Roof Type Flat

Total Parking Spaces 2

Building

Lot Description Irregular Lot

Story 3

Sewer Public Sewer

Water Public

Structure Type Brick,Masonry

Construction Status Existing

Schools

School District Gloversville

Others

Tax ID 170500149.6-7-11

Acceptable Financing Cash, Owner Will Carry, Private Financing Available, Rehab Financing

Listing Terms Cash, Owner Will Carry, Private Financing Available, Rehab Financing

Special Listing Condition Standard

Listed by Wolf River Real Estate, LLC 518-390-7059

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CB Faith Broker

12-24 N Main ST Gloversville, NY 12078

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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12-24 N Main ST