For Sale
$2,000,000

690-696 River St Troy, NY 12180

High-yield office building in Troy, NY.

Overview

Added:
Dec 11, 2024
Days on market:
126
This exceptional investment opportunity presents a single-tenant office building located at 690-696 River Street, Troy, NY 12180. The property is offered at an asking price of $2,000,000, with a projected cap rate of 10.57%. While the square footage is currently listed as 0, the property includes a three-bay service garage and office area currently generating supplemental income from a lease. Significant upgrades were completed in 2020, including the replacement of all car wash equipment with top-of-the-line systems. This includes a complete Balanger & Sonny's Tunnel System with Innovation Control System, a Sonny's Banana Peel 120' Conveyor System with Hydraulic Pump Drive, and a Carolina Pride Express 4 Bay Self Serves system. Radiant heating is installed on the tunnel entrance and exit pads, and the self-serve floors feature 10' runouts. The property benefits from its strategic location, abutting streets with high average annual daily traffic (AADT) of 11,372 and 5,289. This presents a unique chance to capitalize on Troy's revitalization and substantial growth potential. A virtual tour is available for a comprehensive walkthrough of the car wash. Detailed financial information is available upon request. The lease type is modified, and the tenancy is single.

Highlights

  • $2,000,000 asking price.
  • Office property in Troy, NY.
  • Modified lease, single tenant.
  • 10.57% cap rate.
  • Located at 690-696 River Street, Troy, NY 12180.

Property Details for 690-696 River St

Property type
Office properties

Location Insight

City
Troy
County
36083
State
New York
Latitude
42.7456568
Longitude
-73.6833708
690-696 River St, Troy, New York

FAQs

What type of property is this?
Office property - High-yield office building in Troy, NY.
Where is the office property located?
The property is located at 690-696 River St Troy, NY.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: $2,000,000 asking price.; Office property in Troy, NY.; Modified lease, single tenant.
How can I contact the broker?
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690-696 River St
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