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Vacant-User

$1 Auction | Former Community Bank – New York

118 Main St, Whitehall, NY 12887

Listing Price: $1

Gross SF
4,410
Rentable SF
4,410
Lot Size
0.03 acres
Year Built
1950

Investment Overview

Register to Bid and Access Due Diligence Documents on RI Marketplace Marcus & Millichap and RI Marketplace are pleased to present a vacant, free-standing, retail building located at 118 Main Street in Whitehall, Washington County, New York (the “Property”). The Property is offered significantly below replacement cost and offers an exceptional owner/user or investment opportunity with significant value enhancement potential at a significant discount. The Property is comprised of a one-story, free-standing building totaling ±4,410 square feet. Positioned on ±0.032 acres of land (±1,408 SF) with street-side parking. The Property was formerly occupied by a Community Bank on a triple net lease at a rental rate of $55,125 annually ($12.50/SF) and offers potential investors the ability to acquire a free-standing retail building with significant value add through long term lease up, adaptive reuse, or repositioning. Built in 1950, the Property is improved with a three-story, single tenant bank with brick and marble exterior. The top two floors of the three-story structure appear to have been formerly used as residential units or hotel use but were last used for storage purposes. The Property is zoned “C” Commercial District and offers favorable flexible zoning allowing for a variety of commercial and retail uses. The Property is located in located in western central New York in the city of Whitehall in Washington County, New York, within Glens Falls Metropolitan Statistical Area (MSA). The site is situated in the city of Whitehall which is located along the west side of the Champlain Canal, south of Lake Champlain and ±20 miles northeast of Glens Falls. The Property is located at the west corner of Main Street and Saunders Street, fronting the Champlain Canal, which is a canal at the southern end of Lake Champlain. The Property is ±15 miles to the west of IH 87 which travels north/south and offers access to the greater area. The immediate area is a suburban area that developed with commercial uses that date back to the 1800s, and originally were utilized as ground floor retail/office with residential uses on the upper floors, although now most of the upper levels are used for storage. The Property is proximate to Vermont and there are numerous attractions, geographical sites and sights nearby. This former Community Bank serves an expanded 10-mile trade area with ±18,202 individuals with an AHHI of ±$66,758.

Investment Highlights

  • Former Community Bank Available at a Significant Discount Below Replacement Cost
  • Flexible Zoning Suitable for a variety of General Commercial and retail Uses
  • Located just Outside the Adirondack Mountains on the Southern End of Lake Champlain
  • Positioned near Whitehall Marina and 0.5-miles from Amtrak
  • Absolute $1 Auction – First Bid Meets Reserve

Exclusively Listed By

Vacant-User

$1 Auction | Former Community Bank – New York

Listing Price: $1

Gross SF
4,410
Rentable SF
4,410
Lot Size
0.03 acres
Year Built
1950

Investment Highlights

  • Former Community Bank Available at a Significant Discount Below Replacement Cost
  • Flexible Zoning Suitable for a variety of General Commercial and retail Uses
  • Located just Outside the Adirondack Mountains on the Southern End of Lake Champlain
  • Positioned near Whitehall Marina and 0.5-miles from Amtrak
  • Absolute $1 Auction – First Bid Meets Reserve

Investment Overview

Register to Bid and Access Due Diligence Documents on RI Marketplace Marcus & Millichap and RI Marketplace are pleased to present a vacant, free-standing, retail building located at 118 Main Street in Whitehall, Washington County, New York (the “Property”). The Property is offered significantly below replacement cost and offers an exceptional owner/user or investment opportunity with significant value enhancement potential at a significant discount. The Property is comprised of a one-story, free-standing building totaling ±4,410 square feet. Positioned on ±0.032 acres of land (±1,408 SF) with street-side parking. The Property was formerly occupied by a Community Bank on a triple net lease at a rental rate of $55,125 annually ($12.50/SF) and offers potential investors the ability to acquire a free-standing retail building with significant value add through long term lease up, adaptive reuse, or repositioning. Built in 1950, the Property is improved with a three-story, single tenant bank with brick and marble exterior. The top two floors of the three-story structure appear to have been formerly used as residential units or hotel use but were last used for storage purposes. The Property is zoned “C” Commercial District and offers favorable flexible zoning allowing for a variety of commercial and retail uses. The Property is located in located in western central New York in the city of Whitehall in Washington County, New York, within Glens Falls Metropolitan Statistical Area (MSA). The site is situated in the city of Whitehall which is located along the west side of the Champlain Canal, south of Lake Champlain and ±20 miles northeast of Glens Falls. The Property is located at the west corner of Main Street and Saunders Street, fronting the Champlain Canal, which is a canal at the southern end of Lake Champlain. The Property is ±15 miles to the west of IH 87 which travels north/south and offers access to the greater area. The immediate area is a suburban area that developed with commercial uses that date back to the 1800s, and originally were utilized as ground floor retail/office with residential uses on the upper floors, although now most of the upper levels are used for storage. The Property is proximate to Vermont and there are numerous attractions, geographical sites and sights nearby. This former Community Bank serves an expanded 10-mile trade area with ±18,202 individuals with an AHHI of ±$66,758.

Exclusively Listed By

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