This revitalization is expected to improve property values and enhance the area’s appeal for both residents and commercial stakeholders.Key Developments Driving GrowthRecent and ongoing projects across Endicott signal a shift toward clean energy and high-tech manufacturing:Ubiquity Solar Inc.The Canadian solar manufacturer is investing $61 million to transform 800,000 square feet at the former IBM Huron Campus.

These updates tend to offer a good return on investment and can significantly enhance the property's appeal for potential tenants.

.✅ Key Takeaways for InvestorsGuaranteed Income through PHA payments cuts vacancy risk.Access to Grants & Credits drastically reduces renovation costs.Social Impact: Supporting local housing shortages directly benefits community and bolsters your reputation.Tax Benefits: Depreciation, energy incentives, and rehab credits enhance profit.🛡️ Ready to Get Started?

$799 - Roku Smart TV 2025 – 85-Inch Select Series, 4K HDR TV – RokuTV with Enhanced Voice Remote - https://www.amazon.com/dp/B0DWHYJJCN?

@Nathan P TannerGoal with BRRR is to try and limit the amount of money in the deal to enhance the returns.With interest rates where they are at today and current state of home prices and renovation costs I would argue BRRR is dead.

Here’s the scoop: Four years ago, I bought my first property, aiming to live in and enhance it as a proud Park Ridge resident.

Funds will be used to support small business growth, housing improvements, arts, culture, and infrastructure enhancements—with dedicated planning guided by a Local Planning Committee (binghamton-ny.gov).2.

.🏦 Grant Opportunities and IncentivesSeveral state and local incentive programs may reduce project costs and support adaptive reuse:Restore NY Grant ProgramProvides funding for redevelopment of underutilized or blighted propertiesEligible for up to $2 million per project, depending on municipality sizePrioritizes reuse over new constructionNY Empire State Development (ESD) GrantsOffers capital support for projects that create jobs or enhance infrastructureMay apply if the self-storage facility includes mixed-use or light commercial componentsBrownfield Cleanup Program (BCP)If the industrial site is eligible, investors can receive tax credits for cleanup and redevelopmentLocal Industrial Development Agencies (IDAs)May provide property tax abatements (PILOT agreements), sales tax exemptions, and low-interest financingEngaging with local planning departments and economic development councils early in the process can help identify available resources.🧮 Key Metrics to ConsiderMetricTypical Range (Upstate NY)Conversion Cost (PSF)$40–$70Monthly Rent (PSF)$1.00–$1.50Cap Rate6.5%–8.5%Vacancy Rate8%–15%Typical ROI8%–12%Stabilization Timeline12–24 months🔍 Final ConsiderationsBefore moving forward with a conversion project, investors should conduct a thorough feasibility study including:Local self-storage supply and demandTraffic counts and visibilityZoning and permitting analysisBuilding condition and environmental risksExit strategies and management optionsSelf-storage remains one of the most stable sectors in CRE, especially when combined with the cost efficiency of industrial reuse.

When it comes to doing a cost segregation (cost seg) study on an inherited property with planned renovations, timing and coordination can significantly enhance your tax savings.Key Concepts to UnderstandStepped-Up Basis AppliesWhen you inherit a property, your basis is reset to the fair market value (FMV) as of the date of death (or the alternate valuation date, if elected).

I sent you a message about your question.