22 Monroe Street

About this home

Prime Mixed-Use Investment with Value-Add Potential in the Heart of Ellicottville! This mixed-use building features a fully leased street-level commercial space and a 2-bedroom, 1-bath apartment above. The commercial tenant is leased through August 2027 at $2,100/month, and the apartment is leased through October 2026 at $1,500/month. The commercial space has been renovated with an open floor plan and updated electrical. Located next to one of the village's popular restaurants and nightlife destinations, the property benefits from strong year-round pedestrian traffic in this four-season resort community known for skiing, golf, mountain biking, hiking, festivals, weddings, conferences, and tourism. The apartment offers future value-add potential. Short-term rentals are permitted in the Village (buyer to verify current regulations and permitting requirements), providing flexibility after the current lease expires. Also available: 24 Monroe Street, the adjoining commercial building. These properties were previously connected, and the doorway between the commercial spaces has since been enclosed. A buyer purchasing both properties may have the potential to reconnect the spaces creating expanded possibilities for retail, restaurant, hospitality, or other commercial uses. Additional features include public water and sewer, natural gas forced-air heat, 200-amp electric service, a dry basement, and annual taxes of approximately $5,550.

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Location

Ellicottville, NY 14731 · Cattaraugus County

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