22 Freemans Bridge RdSchenectady, NY 12302

Property Details for 22 Freemans Bridge Rd

Year built

1985

Lot size

1.75 AC

Property size (Sq ft)

5,978 SF

Zone code

CON

Property type

Auto shops

APN

422289 30.19-1-25.1

APU

42228930191251

Description

This fee-simple investment opportunity presents a 5,978 square foot auto shop in Schenectady, NY, operating under a corporate-guaranteed Net Lease with Caliber Collision/Gerber Collision. The property, situated on a prominent 1.75-acre lot at 22 Freemans Bridge Rd (zip code 12302), boasts a strong 8.23% cap rate and a current NOI of $72,000. Built in 1985, the facility benefits from a high-traffic location with over 24,000 vehicles passing daily. The current lease, commencing January 15, 2018, and expiring June 14, 2028, offers a remaining term of approximately 3.6 years, with two 5-year options, each including a 4% rent increase. This provides a hedge against inflation and ensures long-term income potential. The tenant, backed by a corporate guarantee, offers significant financial stability. The property's location within a thriving commercial corridor, near major retailers like Lowe's, Subway, and Walmart, further enhances its investment appeal. This is a single-tenant, fee-simple ownership opportunity with minimal landlord responsibilities and strong tenant demand. The property is ideally suited for investors seeking a stable, low-management investment with significant upside potential. The lease is a Double Net (NN) lease.

• CAP approach

  CAP return

  Valuation

  6%

  $2,182,991

  6.5%

  $2,015,069

  7%

  $1,871,135

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,981,566

  Geo Method

  $1,968,335

• Alternative Use

  Use

  Valuation

  Residential

  $1,699,786

  Hospitality

  $1,556,995

  Educational

  $1,295,401

  Medical

  $1,339,952

  Retail

  $2,015,069

Location Insight

City

Glenville

County

Schenectady

State

New York

Latitude

42.8331

Longitude

-73.9313

CBSA code

10580

CBSA name

ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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