Investment Property For Sale

This is an offering for a 10,000+/- SF office building located in the Village of Canton, NY. This property, originally constructed in 1918 with an addition in 1930, was completely rebuilt in 2010 and is known as Ruston Place. The second floor includes 5 residential condo units that have all been sold to owner occupants. The first floor is leased to three office tenants and is available for sale. This offering includes all common areas in the building and the underground parking garage.

Built in 1918, this building, formerly known as the Gray Lanes Building, originally housed a blacksmith shop. In 1928 the building was utilized as a automobile drive-in garage and gas station. In 1954, it was converted to a bowling alley which was in use until around 1990.

The Gray Lanes Building has served many purposes over the course of its history. Developers have renamed it Rushton Place and returned it back to the original historical architectural appearance. Rushton Place has been converted from a vacant bowling alley to prime real estate with commericial space on the first floor and premium condominiums on the second floor.

Located 25 minutes from both the Canadian border at the St. Lawrence River and the Adirondack Park, the Canton community boasts: a vibrant downtown; safe, comfortable neighborhoods; thriving farms with rolling pastures; and open meadows, woodlands, and valleys all close to the beautiful Grass River.

Canton is also proud to be home to outstanding public schools, two excellent institutions of higher learning — St. Lawrence University and SUNY Canton — and the St. Lawrence Health System, an international model for innovative rural health care.

With its extraordinarily high quality of life, Canton is an attractive community for retirees, young professionals, entrepreneurs starting a niche business, and professionals in technology-related fields.

SUNY College of Technology at Canton has 2,624 full-time and 511 part-time students. St Lawrence University has a total undergraduate enrollment of 2,280 (fall 2020).

Waterfront property (located along side the Grass River)
Current gross income $154,993.
Net Operating Income $89,910.
Three lease spaces; Suite 101 CPA firm; Suite 102 non-profit; Suite 103 Power Authority of NYS.
Underground parking.
Building features 3 stop elevator-from lower level parking to 2nd floor.
In-floor heating system.
All separate utilities.
Sprinkler system.
Zoned C-1 Retail-Commercial.
Tax account number 88.042-11-11.
Whole building back-up generator.
Located on Main Street / Route 11 in the Village of Canton.