3 Corporate DrHalfmoon, NY 12065

Property Details for 3 Corporate Dr

Year built

2007

Lot size

3.83 AC

Property size (Sq ft)

40,616 SF

Zone code

07 - MIXED

Property type

Office buildings

APN

413800 278.-1-22.141

APU

413800278122141

Description

This exceptional Class A executive office building, situated on a generous 3.83-acre lot in the desirable Halfmoon, NY, presents a compelling investment opportunity. The property, located at 3 Corporate Drive, boasts 40,146 square feet of meticulously maintained space, currently 93% occupied by a diverse mix of six office tenants and one roof antenna tenant. The building features staggered lease terms with built-in annual rent escalations, ensuring consistent and growing income streams. The property is zoned PDD (Planned Development District) and its APN is 278.-1-22.141. Tenants enjoy a range of on-site amenities, including a common break room, a fully equipped fitness center with showers, a relaxing picnic area, and a reliable backup generator, enhancing the overall appeal and functionality of the space. Recent tenant improvements showcase high-end finishes, reflecting the property's commitment to quality and modern aesthetics. All office leases are structured as NNN (Net, Net, Net), minimizing landlord responsibilities and maximizing return on investment. The strategic location in Saratoga County, coupled with the strong tenant mix and staggered lease terms, makes this a truly exceptional investment opportunity. The asking price for this prime commercial property is $7,100,000.

• CAP approach

  CAP return

  Valuation

  6%

  $10,089,644

  6.5%

  $9,313,517

  7%

  $8,648,266

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,342,558

  Geo Method

  $5,306,886

• Alternative Use

  Use

  Valuation

  Residential

  $11,548,762

  Hospitality

  $10,578,604

  Educational

  $8,801,274

  Medical

  $9,103,963

  Retail

  $13,690,871

Location Insight

City

Halfmoon

County

Saratoga

State

New York

Latitude

42.8484

Longitude

-73.7563

CBSA code

10580

CBSA name

ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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