Weedsport office building sold for $100,000

WEEDSPORT, N.Y. — The commercial property located at 8941 N. Seneca St. in the village of Weedsport was recently sold for $100,000.

The more than 2,500-square-foot-building, located on about one-sixth of an acre, had housed Malvaso Insurance and the Yates Law Firm. The insurance agency remains in operation at other locations, while the owner of the law firm has recently retired, necessitating the sale, according to John Bouck, broker/owner of Bouck Real Estate, who arranged the transaction.

Bouck says the property has been purchased by Lights Rental of Cayuga, LLC. Plans for the one-story building have not been announced, but the new owner indicated that a number of improvements were planned. 

David J. Malvaso and Dale Yates were the prior owners of the property, which they purchased in 1999 for $22,000, according to Cayuga County’s online real-estate records. The property is tentatively assessed at $130,300 for 2021 and has a listed full-market value of $144,478.

The property has frontage on both North Seneca Street, as well as State Route 31 in the back. “Because of its central location within the village, this property is poised to be the centerpiece for any area business, with substantial traffic exposure, and more than adequate parking available on site,” Bouck contends.