Four properties at the corner of Niagara and Carolina streets are on the market. 247, 257-59, and 273 Niagara Street along with 179 Carolina Street are being sold with a $1.159 million asking price. The properties contain a mix of residential and commercial uses and are located on a heavily-traveled entryway into downtown.
The properties are within the West Village Historic Preservation District. 273 Niagara Street is a three-story masonry structure at the corner of Niagara and Carolina. Hot Spot Pizzeria leases the commercial space and two residential units are located on the upper floors.
257-59 Niagara Street is a three-story masonry building with two storefronts and four apartments. The current owner of the properties owns both the mini mart and clothing store in the building. The mini mart does over $70,000 in gross monthly sales and is willing to lease back the commercial space and some of the residential units.
247 Niagara Street is a three-unit residential structure with a commercial storefront addition. The former restaurant space is currently vacant. A three-bedroom unit occupies the second floor and the structure also contains two studio apartments.
The package also includes a single-family cottage residence at 179 Carolina Street with approximately 900 sq.ft. of living space.
“This is a great opportunity for an investor or redeveloper,” says Carmelo Parlato, sales agent with LoVallo Real Estate. “There is a significant amount of development happening along Niagara Street including infrastructure and streetscape work, redevelopment of the Shoreline Apartments across the street, and Schneider Development’s mixed-use project one block away. This stretch of Niagara Street is heavily trafficked due to the I-190 exit nearby and the properties are within easy walking distance to downtown.”
The four properties surround a residential structure at 265 Niagara Street. While the package for sale does not include this site, the owner has indicated a willingness to sell.
A number of projects have been recently completed in the West Village as well including the Lake Apartments on W. Huron Street, The Whitney condos at 65 Whitney, the rehab of 78 Tracy Street, and Evergreen Health’s projects along W. Chippewa and Georgia streets.
Get Connected: Carmelo Parlato, 716.335.2227