Lake Placid See all listings

2490 Main Street, Lake Placid, NY 12946

$2,600,000

MLS# 201722

0.25 acres

8,999 sq. ft


Listing Courtesy of: Engel & Volkers Lake Placid Real Estate

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Overview

Rare Investment Opportunity on Main Street, Lake Placid NY! Welcome to 2490 Main Street, a landmark multi-unit building offering 8,071 SF of prime commercial space spread across two stories. Currently housing three tenants under NNN leases, including long time anchor tenant Starbucks, this property presents a sound investment prospect. Centrally located on the newly refurbished Main Street in the heart of the Village, and benefiting from a recent $10 million reconstruction upgrade to municipal infrastructure and public sidewalks, this signature property enjoys unparalleled visibility with high vehicle and foot traffic. Surrounded by 3 public parking lots, it’s conveniently accessible to visitors and locals alike. Investment Highlights: Unit 1 (ground level) – 1,786 SF, has two 5-year extension options remaining, Unit 2 (ground level) – 1,885 SF, boasts a 3-year lease term with two 4-year extension options remaining and is undergoing a renovation for a new opening coming soon. Both ground units benefit from scheduled rental escalations. Unit 3 (upstairs), with 6 private parking spaces as well as public parking access and same level entrance, encompases 4,400 SF, features an outdoor dining area, and offers flexibility on a month-to-month basis. Some furnishings and equipment are included in the sale. With New York’s $1 billion recent investment in state-of-the-art Olympic venue and tourism site upgrades, including plans to make the two-time Olympic Village a global sports hub, the North Country is poised to become an even greater premier winter sports destination worldwide and continues to be a prime summer destination. Don’t miss this rare opportunity to invest in the heart of Lake Placid’s vibrant community and modern transformation.

Details & Amenities

Listing Details

  • MLS #: 201722
  • Status: Pending
  • Date Listed: 05-01-2024
  • Sq. Ft: 8,999
  • Acreage: 0.25
  • Seasonal Property: No
  • Listing Agent: Colleen Holmes
  • Listing Courtesy of: Engel & Volkers Lake Placid Real Estate

Interior Features

  • Basement: Partial
  • Heating Type: Baseboard, Electric, Hot Water, Oil
  • Air-conditioning Type: Central Air, Separate Meters

Exterior & Lot Features

  • County: Essex
  • Town: Lake Placid
  • Township: N Elba
  • School District: Lake Placid
  • Views: Commercial, Downtown
  • Lot Features: Corner Lot, Paved
  • Lot Size Area: 0.25
  • Total Parking: 6
  • Road Type: Paved
  • Sewer: Public Sewer
  • Zoning Description: Commercial

Building & Construction

  • Tax Map #: 42.174-3-8.000
  • Annual Taxes: $27,297
  • Year Built: 1940
  • Parking Features: Parking Lot, Public Parking
  • Exterior Siding: Stone, Wood Siding
  • Roof Type: Flat
  • Foundation Details: Slab
  • Electric AMP: 200+ Amp Service
  • Water Source: Public
  • Features: Restaurant/Bar