4 Harrowgate CmnsMassena, NY 13662

Property Details for 4 Harrowgate Cmns

Year built

2012

Lot size

3.30 AC

Property size (Sq ft)

10,445 SF

Zone code

HC

Property type

Office buildings

APN

405801 9.075-7-29.112

APU

4058019075729112

Description

This exceptional 15,000 square foot commercial property, situated on a 3.3-acre lot at 4 Harrowgate Commons in Massena, NY, presents a compelling investment opportunity. Currently leased to a government agency under a long-term, lucrative lease agreement demonstrating a strong commitment to continued occupancy, this property is in excellent condition and requires no deferred maintenance. The current cap rate stands at 2.8%, offering a stable and predictable income stream. Detailed financial information, including lease terms and projected returns, is available upon request. It's important to note that this property is one of five within a larger portfolio. Three properties in the portfolio are leased to government agencies, one to a medical facility, and one comprises five duplex units. The entire portfolio is available for purchase at a discounted price, presenting a unique opportunity for significant economies of scale and diversified investment. This property offers a rare chance to acquire a well-maintained, high-performing asset with a secure tenant and strong potential for long-term growth. Serious inquiries are encouraged to explore this exceptional investment opportunity further.

• CAP approach

  CAP return

  Valuation

  6%

  $2,594,700

  6.5%

  $2,395,108

  7%

  $2,224,028

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,373,917

  Geo Method

  $1,364,744

• Alternative Use

  Use

  Valuation

  Residential

  $2,969,934

  Hospitality

  $2,720,443

  Educational

  $2,263,377

  Medical

  $2,341,218

  Retail

  $3,520,808

Location Insight

City

Massena

County

St. Lawrence

State

New York

Latitude

44.9228

Longitude

-74.893

CBSA code

36300

CBSA name

OGDENSBURG-MASSENA, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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