690-696 River StTroy, NY 12180

Property Details for 690-696 River St

Property type

Office properties

Description

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.

Location Insight

City

Troy

County

36083

State

New York

Latitude

42.7457

Longitude

-73.6834

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