561 Ridge RdLackawanna, NY 14218

For Sale
$320,000

Mixed-use investment, high ROI potential.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional mixed-use property at 561 Ridge Road, Lackawanna, NY, presents a compelling investment opportunity. The 5,721 square foot building, constructed in 1938, boasts a desirable Central Business District (CBD) zoning. The two-story structure features nine professional offices on the first floor, complete with three bathrooms and a kitchenette. Currently generating income, this property offers immediate returns. The second floor presents a value-add opportunity for future development. A renovated basement adds to the functional space. Recent improvements include a new HVAC system. Ample parking is available with 10+ spaces plus garage space. Situated on a 0.3-acre lot (APN: 140900-142-370-0004-006-100), this Class B building is priced at $320,000 ($55.93/sq ft). Its convenient location offers easy access to downtown Buffalo, less than 10 minutes away. This is an ideal investment for those seeking a strong return in a thriving area. The property is a single building on a 0.3 acre lot.

Highlights

  • Nine first-floor professional offices with three bathrooms and a kitchenette.
  • Income-producing investment opportunity.
  • Second-floor value-add potential.
  • Renovated basement.
  • New HVAC system.
  • Ten-plus parking spaces plus garage.

Property Details for 561 Ridge Rd

Property type
Multifamily properties, Other office properties
Square Feet
5,721 SF
Class
B
Year Built
1938
Buildings
1
Stories
2
Lot Size (sq. ft)
13,068 SF

Location Insight

City
Lackawanna
County
Erie
State
New York
Latitude
42.825876703743
Longitude
-78.83082311913
561 Ridge Rd, Lackawanna, New York

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561 Ridge Rd
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