Welcome to 221 Main Street, an exceptional property on Germantown's Main Street. Situated on a 0. 2-acre lot, this versatile building offers an incredible opportunity for investors, entrepreneurs, and visionaries. The property is currently vacant and ready for transformation, making it ideal for a variety of uses on the lower level and residential or rental potential on the upper level. Located next to the popular Gaskins restaurant and a block from Otto's Market, this property benefits from high visibility and foot traffic. The lower level is perfect for a shop, restaurant, office space, or any other commercial venture, and it can also be split into multiple commercial spaces or used as one large unit. Alternatively, the lower level can be converted into residential units, allowing for a flexible multi-family property setup. The upper level features a spacious apartment that can be split into two units or kept as one large residence, offering additional flexibility for rental income or personal use. A large parking area, a rare commodity in Germantown, provides ample parking for customers, tenants, or guests. This 3, 622 square foot building is one of the few properties on Main Street primed for renovation, allowing you to customize and create a space that meets your needs. Enjoy the convenience of being steps away from one of Germantown's most beloved restaurants and shops. Additionally, the property is approximately 2 hours from New York City and just under an hour to Albany, making it a great location for commuters or those seeking a weekend retreat. This property is a blank canvas with endless possibilities. Whether you're looking to open a new business, develop a multi-family property, expand your real estate portfolio, or create a unique live/work space, this Main Street gem offers the perfect starting point. Don't miss out on this rare opportunity to own a piece of downtown Germantown's thriving community!Property being sold as-is.
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Our Executive Mortgage Banker:
Our Insurance Division:
$399,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.DeFlorio@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $319,200 | $319,200 | $319,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.125% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.456% | 7.171% | 6.276% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,151 | $2,122 | $2,692 |
Total Monthly Payment | $2,226 | $2,197 | $2,767 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.