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Adirondack Real Estate

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5970 Sentinel, Lake Placid, NY 12946

$1,450,000
Property Type: Commercial Sale Square Footage: 12,500 Lot Size (sq. ft.): 67,518 Status: Closed
Current Price: $1,450,000 List Date: 5/01/2022 Last Modified: 9/02/2024

Description

This offering has two retail spaces with parking, 14 studios apartments, 10 one-bedroom apartments, and a separate two-bedroom cottage. The property is located on a highly visible Gateway Corridor as you enter the Village of Lake Placid, with a local public transit stop right at the Property. Opportunities exist for further development of the 1.55-acre lot.

More Information MLS# 176044

Location, Tax, and Legal

Tax Annual Amount: 20295 Land Tax Annual Amount: 9760.82 APA: Hamlet Deed Date: 2007-11-07

General Property Information

Tax Assessed Value: 927000 Building Area Total: 12500 Year Built: 1940 Lot Size Acres: 1.55 Sign On Property YN: 1

Status Change Information

Status Change Timestamp: 2023-12-12 Concessions: No Major Change Timestamp: 2023-12-12T16:52:42Z Major Change Type: Status Change Under Contract Date: 2023-08-18 Close Date: 2023-12-11 Close Price: 1450000

Appliances

Electric Water Heater: 1

Basement

Crawl Space: 1 Exterior Entry: 1

Construction Materials

Asphalt: 1 Block: 1 Frame: 1 Wood Siding: 1

Cooling

None: 1

Deed Details

Instrument: Deed Page: 309 Volume: 1556

Documents Available

Deed: 1 Survey: 1

Electric

200+ Amp Service: 1

Exterior Features

Lighting: 1

Financial Details

School Taxes: 5803.1 Village Taxes: 4731.75

Foundation Details

Block: 1 Slab: 1 Stone: 1

Heating

Electric: 1

Listing Terms

Cash: 1 Conventional: 1

Lot Features

Level: 1 Near Public Transit: 1 Paved: 1 Rolling Slope: 1

Parking Features

Off Street: 1 Parking Lot: 1

Road Surface Type

Paved: 1

Roof

Composition: 1

Special Listing Conditions

Standard: 1

Utilities

Cable Available: 1 Internet Available: 1 Sewer Connected: 1 Water Connected: 1

View

Commercial: 1 Trees/Woods: 1

Income and Expenses

Gross Income: 205100 Lawn Care/Snow Removal Expense: 1500 Insurance Expense: 11600 Maintenance Expense: 15400 Net Operating Income: 56250 Other Expense: 12300 Professional Management Expense: 21100 Trash Expense: 6000

Tenant Pays

Electricity: 1 None: 1

Included

None: 1

Unit One

Unit Name: Studio Dimensions: 300 sqft Lease Rate: 650

Unit Two

Unit Name: 1 bed Dimensions: 650 sqft Lease Rate: 750

Unit Three

Unit Name: 2 Bed Dimensions: 750 sqft Lease Rate: 850

Showing Requirements

Appointment Only: 1 Call Listing Agent: 1

Contract Information

Current Price: $1,450,000 Original List Price: 1650000 Sold Price: $1,450,000 Status: Closed Listing Contract Date: 2022-05-01 Property Sub Type: Business Listing Agreement: Exclusive Right To Sell

Location Tax and Legal

Street Number: 5970 Street Name: Sentinel County: Essex State: NY Postal Code: 12946 Subdivision Name: None MLS Area Major: Lake Placid Township: N Elba School District: Lake Placid Parcel Number: 42.256-1-6.000 Zoning: Commercial Directions: Heading out of Lake Placid on Sentinel Rd. The property is on the Left 5970 Sentinel Rd. Four Seasons Apartments.

Property Features

Appliances: Electric Water Heater Basement: Crawl Space; Exterior Entry Construction Materials: Asphalt; Block; Frame; Wood Siding Cooling: None Documents Available: Deed; Survey Electric: 200+ Amp Service Exterior Features: Lighting Foundation Details: Block; Slab; Stone Heating: Electric Included: None Listing Terms: Cash; Conventional Lot Features: Level; Near Public Transit; Paved; Rolling Slope Parking Features: Off Street; Parking Lot Road Surface Type: Paved Roof: Composition Special Listing Conditions: Standard Tenant Pays: Electricity; None Utilities: Cable Available; Internet Available; Sewer Connected; Water Connected View: Commercial; Trees/Woods Showing Requirements: Appointment Only; Call Listing Agent
Listing Courtesy of The Reynolds Group of Lake Placid, LLC
IDX
Information deemed reliable but not guaranteed.
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