690-696 River StTroy, NY 12180

Property Details for 690-696 River St

Lot size

0.40 AC

Property size (Sq ft)

1,636 SF

Property type

Retail properties

Property subtype

Mixed-use properties

Description

This mixed-use property in Troy, NY, offers a compelling investment opportunity. Priced at $2,000,000, this 1,636 square foot property boasts an 8.10% cap rate, with potential to reach 10% or higher. The property includes a fully equipped car wash featuring top-of-the-line equipment entirely replaced in 2020. 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. The car wash features radiant heating on tunnel entrance and exit pads, and self-serve floors with 10' runouts. Adding to the income stream, a three-bay service garage and office area are currently leased, generating substantial additional revenue. The property sits on a 0.4-acre lot, strategically located on River Street with high traffic counts (AADT 11372 & AADT 5289). This location benefits from Troy's ongoing revitalization, presenting significant growth potential. The property is classified as retail and mixed-use, offering a value-add investment opportunity with a modified lease and multi-tenancy. A virtual tour is available for a comprehensive view of this exceptional property.

Location Insight

City

Troy

County

Rensselaer

State

New York

Latitude

42.7457

Longitude

-73.6834

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