203 Lake Street

EXCELLENT INVESTMENT AND INCOME PROPERTY available in the Village of Penn Yan, NY on the north end of Keuka Lake. CORNER LOT, HIGH traffic counts, HIGH VISIBILITY. All commercial traffic passes by this intersection in the village limits. The area businesses include: a Best Western motel, Dunkin Donuts, Taco Bell, Verizon store, and more. GUARANTEED income today with a fully rented building with long term tenants. Projected 2025 net income of $65,000 to $70,000 annually. Projected 2025 CAP rate between 8.45% to 9.05%. RUN YOUR NUMBERS. OVER 5,000 SQ FT OF LEASED SPACE, currently 100% occupied and rented by 3 tenants. Tenants pay their own utilities ( electric, gas, heat, water and sewer charges ). Net leases with CAM fees shared by the tenants. Tenants Common Area Expenses on a pro-rated basis include: taxes, insurance, snow plowing, and required exterior maintenance and exterior repairs. Tenants responsible for maintaining and repairing their interior space including all utility costs. This offering includes 2 tax parcels, the building lot and an adjoining parking area. Currently 28 parking spaces. Tenants/businesses can access the rear of the building for deliveries, etc. unimpeded by customer parking. The commercial zoning offers many approved uses for this property. Current property use classification is 452 Shopping Center. Two high speed internet providers within the village limits. Existing survey map available upon request. New roof completed in October of 2015. All offers and/or letters of intent to demonstrate financial ability to purchase. Lease information available with your signed non-disclosure confidentiality statement. Tenants leases transfer with the sale. Purchase and sale contracts and Intent to Purchase proposals will be reviewed by the seller. Please allow 48 hour notice for all schedule showings. BEST SHOW TIMES are weekdays at 11am. by appointment.