562-564 Hoosick RdTroy, NY 12180

Property Details for 562-564 Hoosick Rd

Year built

1994

Lot size

0.91 AC

Property size (Sq ft)

9,546 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

382200 101.8-20-5

APU

3822001018205

Description

Gateway Plaza, located at 562-564 Hoosick Road in Brunswick, NY (zip code 12180), presents a compelling investment opportunity. This 9,546 square foot retail plaza sits on a 0.91-acre lot and boasts 60 parking spaces. Built in 1994, the property is zoned B-15 Commercial and features five individual units, currently operating under a NNN lease structure. The asking price is $949,900. Strategically positioned along heavily trafficked Route 7, between Hudson River Commons and a Walmart Supercenter, Gateway Plaza benefits from exceptional visibility and high daily traffic counts exceeding 25,000 vehicles. This prime location is surrounded by over 600,000 square feet of existing retail space, further enhancing its appeal. The immediate trade area is experiencing significant growth, with recent additions including Hannaford, Aldi, Popeyes, Aroma Joe's, and KFC. The property's proximity to Rensselaer Polytechnic Institute (RPI) and Samaritan Hospital provides a substantial and diverse customer base. This well-established retail center offers a strong return on investment potential for savvy buyers seeking a thriving commercial property in a rapidly developing area of Rensselaer County, New York.

• CAP approach

  CAP return

  Valuation

  6%

  $3,485,920

  6.5%

  $3,217,772

  7%

  $2,987,932

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,164,274

  Geo Method

  $3,143,146

• Alternative Use

  Use

  Valuation

  Residential

  $2,714,312

  Hospitality

  $2,486,295

  Educational

  $2,068,568

  Medical

  $2,139,709

  Retail

  $3,217,772

Location Insight

City

Troy

County

Rensselaer

State

New York

Latitude

42.7398

Longitude

-73.6567

CBSA code

10580

CBSA name

ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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