316 Wall Street, Kingston, NY 12401 (MLS# 20203745)
$1,500,000
Kingston, NY 12401
MLS# 20203745
Status: Closed
5726 sqft
1 / 35
Property Description
Uptown Kingston mixed use building featuring a fully equipped turn-key restaurant/bar with two NYC loft style apartments on the second and third floor. Thriving restaurant has recently closed due to owner relocation (business is for sale asking $100,000). Second floor apartment has been completely renovated offering 1 bedroom, two full bathrooms and a rooftop deck (could easily be a 2 bedroom apartment) and is currently rented for $2,200 a month with the tenant paying all utilities. Third floor apartment is currently one unit, 2-3 bedroom with two full baths (but was split into two 1-bedroom apartments in the past), available for rent at $2,500 with electric included. In this unit there are two full bathrooms, 1 kitchen and laundry area that was previously the second kitchen, unit could easily be converted back into two apartments making it a commercial 1st floor space with 3 apartments. Income and expense sheet reflects current status of building with projected rents as a commercial space and 2 apartments. See associated docs for income and expense at asking price. Full basement with high ceilings is great for storage, has full beer cooler and office. The exterior offers a front patio facing Wall Street and a rear patio facing Fair Street (could be used as parking or additional seating).
Details
Contract Information
Listing Agreement: Exclusive Right To Sell
Owner Name: Ravenhouse Inc
Owner Phone: 8453897895
Occupant Name: Vacant
Current Price: $1,500,000
Original List Price: 1600000
Sold Price: $1,500,000
Status: Closed
Listing Contract Date: 2020-09-09
Property Sub Type: Mixed Use
Location, Tax, and Legal
General Tax: 6508
School Tax: 10329
Tax Assessed Value: 41800
Tax Legal Description: 9,2,316 Wall Street
Tax Lot: 9
Tax Block: 2
Zoning: COMM1
Directions: From Kingston Traffic circle take Washington Ave to left on N Front St to right on Crown to left on John to left on Wall. Building is going to be on your right #316
General Property Information
Number Of Units Total: 3
Lot Size Acres: 0.07
Lot Size Dimensions: 25x126
Accessibility Features YN: Yes
Sign On Property YN: Yes
List Price/SqFt: 279.43
Sold Price/SqFt: 261.96
Living Area: 5726
Year Built: 1920
Remarks and Miscellaneous
Public Remarks: Uptown Kingston mixed use building featuring a fully equipped turn-key restaurant/bar with two NYC loft style apartments on the second and third floor. Thriving restaurant has recently closed due to owner relocation (business is for sale asking $100,000). Second floor apartment has been completely renovated offering 1 bedroom, two full bathrooms and a rooftop deck (could easily be a 2 bedroom apartment) and is currently rented for $2,200 a month with the tenant paying all utilities. Third floor apartment is currently one unit, 2-3 bedroom with two full baths (but was split into two 1-bedroom apartments in the past), available for rent at $2,500 with electric included. In this unit there are two full bathrooms, 1 kitchen and laundry area that was previously the second kitchen, unit could easily be converted back into two apartments making it a commercial 1st floor space with 3 apartments. Income and expense sheet reflects current status of building with projected rents as a commercial space and 2 apartments. See associated docs for income and expense at asking price. Full basement with high ceilings is great for storage, has full beer cooler and office. The exterior offers a front patio facing Wall Street and a rear patio facing Fair Street (could be used as parking or additional seating).
Status Change Information
Status Change Timestamp: 2021-03-22
Buyer Financing: Cash
Concessions Amount: 0
Major Change Timestamp: 2021-03-23T00:19:48Z
Major Change Type: Status Change
Purchase Contract Date: 2021-02-22
Close Date: 2021-03-22
Close Price: 1500000
Appliances
Gas Water Heater: 1
Water Heater: 1
Basement
Full: 1
Book Information
Liber/Book: 5855
Page: 148
Section: 48.331
Construction Materials
Brick: 1
Frame: 1
Stone: 1
Cooling
Central Air: 1
Electric
200+ Amp Service: 1
Flooring
Ceramic Tile: 1
Hardwood: 1
Wood: 1
Heating
Forced Air: 1
Hot Water: 1
Natural Gas: 1
Listing Terms
Lease Option: 1
Lot Features
City Lot: 1
Level: 1
Road Frontage Type
City Street: 1
Security Features
Fire Alarm: 1
Smoke Detector(s): 1
Sewer
Public Sewer: 1
Income and Expenses
Cap Rate: 7
Gross Income: 11700
Gross Scheduled Income: 140400
Insurance Expense: 5500
Net Operating Income: 103742
New Taxes Expense: 16734
Total Annual Expenses: 36658
Water Expense: 4800
Owner Pays
Insurance: 1
Tenant Pays
All Utilities: 1
Building Features
Kitchen Facilities: 1
Living Space Available: 1
Private Restroom(s): 1
Public Restroom(s): 1
Storage: 1
Window Display: 1
Business Type
Bar/Tavern/Lounge: 1
Residential: 1
Showing Requirements
Appointment Only: 1
See Remarks: 1
Sale Includes
Building: 1
Equipment: 1
Fixture(s): 1
Showing Information
Showing Instructions: Showingtime
Historical Information
UC Public Historical Remarks: Garage/Parking Extras: LOT,LOT-PAVED,OFF STREET,Parking spaces 1-5, Age: 100-200, Lease Type: Month To Month
Location Tax and Legal
Street Number: 316
Street Name: Wall
Street Suffix: Street
State: NY
Zip Code: 12401
Town (Taxable): Kingston,City
Property Features
Appliances: Gas Water Heater; Water Heater
Basement: Full
Building Features: Private Restroom(s); Kitchen Facilities; Living Space Available; Public Restroom(s); Storage
Business Type: Bar/Tavern/Lounge; Residential
Construction Materials: Brick; Frame; Stone
Cooling: Central Air
Electric: 200+ Amp Service
Flooring: Ceramic Tile; Hardwood; Wood
Heating: Forced Air; Hot Water; Natural Gas
Listing Terms: Lease Option
Lot Features: City Lot; Level
Owner Pays: Insurance
Road Frontage Type: City Street
Security Features: Fire Alarm; Smoke Detector(s)
Sewer: Public Sewer
Tenant Pays: All Utilities
Showing Requirements: Appointment Only; See Remarks
Sale Includes: Building; Equipment; Fixture(s)
Listing Courtesy of Win Morrison Realty-K
Listing Agent: Gregory Berardi