Massena Wellness Center

  • Location: 23 Maple Street, Massena NY
  • Square Footage: 9344
  • Constructed 2002, wood frame, slab on grade
  • Approaching our 2nd 10-year lease
  • Renewal with NYS (January 2023) expect 10% increase minimum with renewal
  • Current lease terms: Renewal term commenced on January 14, 2012 and ends on January 13, 2023
  • Most recent independent income-based appraisal $1,250,000 prepared for Community Bank, N.A. Mortgage holder
  • Current Income/Expense Summary:
    • Gross Annual Rental Income 2020: $149,000
    • Operating Expenses: $65,000
    • Net Operating Income: $84,000
    • Asking Price: $1,350,000
    • Est. 2020 Taxes: $28,854
    • Cap Rate .06 or 6%

No land contracts or owner financing. Qualified buyers only.