About This Home
This land at County Highway 6 in Otego, NY is listed for $299,000 (5.44 acres).
Key Features
- 5.44 acre lot
- Waterfront
Amenities
BUSINESS OPPORTUNITY: Spring Water Complex Looking for an entrepreneurial opportunity? A 5.44-acre spring water complex built in 1889, which at one time served as the municipal water supply for the town of Otego, is available for purchase. All old infrastructure is in place, including in-ground concrete reservoirs built during an improvement project in 1900 and piping leading from the springs to the reservoirs.
The spring was abandoned in 1930 due to increased demand from development in the town. At one time the estimated water production was over 200,000 gallons per week. The opportunity to restore the complex still exists, and in fact the production potential can be increased by applying modern technologies.
A right of way will be granted across the sellers adjoining land. Seller will consider financing with 50% down for a maximum of 10 years or 3 years from when the buyer begins producing spring water, whichever is sooner. The west branch of Otsdawa Creek runs through the property.
Location
County Highway 6
Otego, NY 13825
Questions & Answers
This 0-bedroom, 0-bathroom land at County Highway 6 is listed at $299,000. The estimated monthly payment is $1,599 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.
Key features include: 5.44 acre lot, Waterfront.
This property is listed by Suzanne Darling GRI and can be reached at 6075637012.