3459 Galway RdBallston Spa, NY 12020

Property Details for 3459 Galway Rd

Year built

2007

Lot size

2.43 AC

Property size (Sq ft)

5,752 SF

Property type

Specialty properties

Property subtype

Schools

Description

Exceptional investment opportunity: This 5,752 square foot Childtime Childcare center in Ballston Spa, NY, presents a compelling investment opportunity. Located at 3459 Galway Rd, Ballston Spa, NY 12020, this single-story, 2007-built facility sits on a 2.43-acre lot and boasts 17 parking spaces. The property features a 10-year lease (commencing June 1, 2019, and expiring May 31, 2029) with a credit-rated, corporate-guaranteed tenant, offering 4.5 years of remaining lease term. The lease includes annual rent bumps of 1.75% and 3-5 year lease options. The current NOI is $45,759, with a pro-forma NOI of $46,560, resulting in a 6.78% cap rate and a pro-forma cap rate of 6.90%. The asking price is $675,000, translating to $117.35 per square foot. The property underwent renovations in 2020 and enjoys 100% occupancy since May 2, 2019. This is a rare opportunity to acquire a stable, high-performing asset with a strong tenant and significant remaining lease term in a desirable location. The building has an 8-foot ceiling height. This is a NNN lease.

Location Insight

City

Ballston Spa

County

Saratoga

State

New York

Latitude

43.0288

Longitude

-73.9197

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