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1 Grove St
Tonawanda, NY 14150
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Desirable corner lot
EXECUTIVE SUMMARY
Discover a versatile 5-unit mixed-use building located at 1 Grove in Tonawanda, NY. This property features a well-balanced unit mix including one studio apartment, one one-bedroom unit, and one spacious three-bedroom unit, offering strong residential rental appeal. In addition, the building includes a dedicated commercial office space ideal for small businesses, as well as a garage equipped with its own small office area, which was just recently leased for 2 years, trades. There is also an additional small garage leased out. With multiple income streams and a central location, this property presents an excellent opportunity for investors seeking stability and value-add potential. There is also a gutted unit that is 700 sqft. Buyer would need to pull permit from the city for approval and provide plans for renovation. This unit was not included in the price.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
7,890 SF
Building Class
C
Year Built
1920
Price
$478,193 CAD
Price Per SF
$60.61 CAD
Cap Rate
8.94%
NOI
$42,730 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.29
Lot Size
0.14 AC
Zoning
Commercial Mixed Use
Parking
5 Spaces (0.76 Spaces per 1,000 SF Leased)
Frontage
91’ on Grove St
AMENITIES
- Corner Lot
PROPERTY TAXES
| Parcel Number | 141600-039-530-0003-001-100 | Improvements Assessment | $216,884 CAD |
| Land Assessment | $46,931 CAD | Total Assessment | $263,815 CAD |
PROPERTY TAXES
Parcel Number
141600-039-530-0003-001-100
Land Assessment
$46,931 CAD
Improvements Assessment
$216,884 CAD
Total Assessment
$263,815 CAD
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