Property Details

Overview

Opportunity awaits! Solid Midtown building sits in the heart of Kingston, on one of the busiest intersections with high traffic and great visibility. The building offers a spacious retail space with a fully equipped kitchen, seating area, and restrooms on the first floor (with a current occupancy of 50 occupants. The commercial restaurant/retail space is currently vacant and being delivered just about Turn-Key for a new Restaurant/Deli/Catering etc. There is a commercial hood, range, cook-top, and a walk-in cooler and walk-in freezer in the kitchen. The Kitchen/Retail ratio is about 1/3 Kitchen and 2/3 retail with one-half bath for the retail although there is another room used for storage that could be another half bath. The building has a full basement with great storage space for a restaurant/deli/ retail tenant. The second floor has two generously sized two-bedroom, and one-bath apartments, currently occupied and rented to long-term tenants (month-to-month). Both units have newer electric hot water heaters, natural gas forced air heat, central air, and two electric services. Rubber roof is approx. 7 years old. The owner pays for water (there is a water meter for the restaurant and another meter for the apartments), and all tenants pay for their heat, hot water, and electricity. The property has municipal sewer, water, and natural gas with parking for 2-3 cars on-site, and then municipal public parking behind the building. See associated docs for county records/ permitted uses and income and expense sheet. Both apartments are rented well below market, the income and expense sheet offers current rental income and then projected market rental income.