It’s time to invest on Niagara Street. The street has been on the upswing for a couple of years now, with a new brewery, restaurants, the revitalization of a neighborhood park, building rehabs, etc. Next up is a new infrastructure project by the City (see here). Once the street is redone, there will be an entirely new vibe, which will bring even further investments. That means that the time is now to get into the race. You might not be at the starting line, but at least you would still be a contender if you decide to purchase 1432 Niagara Street.
This 17,200 square foot, 2-storey concrete warehouse building is located just a few doors down from The Crescendo project. The structure is being listed at $499,900. There’s parking for 18 cars on the first floor, plus, additional storeys can be added to the structure, which is perfect because of the fantastic views onto the Niagara River.
This building is screaming for a renovation/reuse. It’s primely located on Niagara Street, on a stretch that will, one day, be the most coveted section of the street. Once the Complete Street plan is finished, this area is going to be almost unrecognizable. Since the City announced plans to upgrade the infrastructure, there has been a ton of investment activity.
While the listing price is not considered “a steal”, it’s still a great investment for someone looking to build out a longterm vision for a property that offers a ton of square footage to play around with.
Word on the street is that the current owner did have some plans drawn up for a reuse, and still has architect drawings that he would most likely be willing to pass along to the new owner as part of the deal. Apparently, at one point, he was going to move forward with developing the property. According to a real estate agent familiar with 1432 Niagara, there might also be an opportunity to acquire a neighboring lot for parking, which would free up the parking on the first floor of the building. Interested parties should also ask about possible mixed use tax credits.
Hat tip to Carmelo Parlato for passing along the information on this property. Get connected: 716-849-1234