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Listed by Scott P Varley • KW Platform

$ 249,777

Est. payment -/mo

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Active

198 Main Street Salem, NY 12865

4 Baths

4,520 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 4,520 sqft

Price per Sqft $55

MLS Listing ID 202617841

HOA Y/N No

Annual Tax Amount $3,980

Lot Size 6,534 Sqft

Acres 0.15

Lot Dimensions 40X164

Property Sub-Type Mixed Use

Source Global MLS

Property Description

Right in the heart of Salem village -- and working hard already.
This well-maintained mixed-use building offers the kind of versatility that's increasingly rare at this price point in Washington County. Four apartments -- one 2-bedroom and three 1-bedrooms -- sit above two vacant commercial spaces on the first floor, generating $3,200 per month in residential rental income with additional upside potential from the two retail spaces ready for a new tenant or owner-operator.
The apartments are updated, functional, and consistently occupied. The 2-bedroom unit rents at $1,000/month, the main floor 1-bedroom at $800/month, and both third floor units at $700/month each. Appliances and mechanicals have been methodically refreshed throughout -- refrigerators and stoves replaced within the last 1-5 years across all units, hot water tanks ranging from 1-5 years old, and the commercial spaces feature a 2-year old furnace. Separate electric heat in the apartments. The building has seen significant capital improvements including new electric, windows, and roof replacements on both the main and lower sections.
Live here, work here, and collect rent while you do it -- or hold it purely as an income-producing asset in a village that draws visitors year-round. Salem sits at the crossroads of some of the region's most desirable destinations -- Saratoga Springs, Granville, Greenwich, and Manchester VT are all within easy reach.
A detached garage and barn at the rear offer additional storage and long-term potential for the right buyer. Retail spaces are vacant and available for showings. The four apartment units may be viewed by virtual showing only. Please do not disturb the tenants. In person showing(s) may be made contingent upon an in-person viewing after a signed offer is in place.

Location

State NY

County Washington

Zoning Mixed

Direction From the intersection of Route 22 and Route 153 in Salem village, head north on Main Street -- the property will be on your left.

Interior

Heating Baseboard, Electric, Forced Air

Inclusions Building & Land

Exterior

Parking Features Off Street, Detached

Roof Type Rubber

Building

Lot Description Level

Sewer Septic Tank

Water Public

Architectural Style Other

New Construction No

Schools

School District Salem

Others

Tax ID 534800 209.9-1-33

NEARBY SCHOOLS & PROPERTIES

Inglenook Realty, Inc.

NYS Licensed Real Estate Brokerage | License ID: 109931319

+1(518) 882-6236

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