For Sale
$5,600,000

2 3Rd St Troy, NY 12180

90,000 SF, Multi-Tenant Office Complex

Overview

Added:
Dec 11, 2024
Days on market:
132
This exceptional investment opportunity presents a 90,000 square foot, multi-tenant office complex in downtown Troy, NY. The property, known as "The Frear," consists of two interconnected, four-story Class B buildings constructed in 1900 and renovated in 1980. Currently 80% occupied by CVS Pharmacy, the property sits on a 0.93-acre lot with DMU (Downtown Mixed-Use) zoning, allowing for diverse development possibilities. The strategic location at 2 3rd St, near the Hudson River waterfront and a major highway, offers significant potential for repositioning or redevelopment. Shared utility services connect the buildings and a city-owned portion of the Troy Atrium. The asking price is $5,600,000, translating to $62.22 per square foot. This offering is part of a larger three-parcel portfolio, providing an opportunity to acquire a significant presence in Troy's revitalized downtown area. The property's APN is 1700-101.45-6-1. Detailed information is available upon request.

Highlights

  • $5,600,000 asking price for a value-add opportunity.
  • 90,000 square foot, Class B office building with 80% occupancy.
  • Multi-tenant property anchored by CVS Pharmacy.
  • Two, four-story buildings totaling 90,000 square feet on a 0.93-acre lot in Troy, NY.
  • Built in 1900, renovated in 1980, with DMU (Downtown Mixed-Use) zoning.

Property Details for 2 3Rd St

Property type
Office properties
Square Feet
90,000 SF
Class
B
Year Built/Renovated
1900/1980
Buildings
2
Stories
4
Lot Size (sq. ft)
40,511 SF

Location Insight

City
Troy
County
Rensselaer
State
New York
Latitude
42.732532088355
Longitude
-73.689956749377

FAQs

What type of property is this?
Office property - 90,000 SF, Multi-Tenant Office Complex
Where is the office property located?
The property is located at 2 3Rd St Troy, NY.
What is the asking price?
The asking price for this property is $5,600,000.
What are key features of this property?
This property features: $5,600,000 asking price for a value-add opportunity.; 90,000 square foot, Class B office building with 80% occupancy.; Multi-tenant property anchored by CVS Pharmacy.
How can I contact the broker?
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2 3Rd St
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