*UPDATED LISTING INFORMATION* Three suites available for lease-up, including a large space with an existing kitchen suited to food service conversion. Documented rent roll and operating expense history available upon request.
Strategically positioned on a high-traffic retail corridor, the property benefits from strong neighboring anchors including Hannaford, Rite Aid, and Dunkin Donuts. Utica continues to attract significant investment, including the new Wynn Downtown Hospital and the Wolfspeed chip manufacturing facility, supporting long-term demand for commercial space in the area.
Features: Flat membrane roof recoated 2021, updated metal canopy, wet sprinkler system, double-pane windows, insulated roof deck and exterior walls, 3-phase electric, storefront and pylon signage.
Highlights:
- 15,543 SF commercial plaza situated on approximately 1.5 acres in Utica, NY
- 10 commercial spaces, 7 currently leased, with a mix of retail, restaurant, and professional office uses
- 9.11% cap rate based on current list price and documented in-place income
- Approximately 12.8% projected stabilized yield once the three available suites are leased
- 80+ parking spaces offering strong on-site customer and tenant parking
- Located near major traffic drivers including Hannaford, Dunkin', Dollar General, Citi Trends, and other national/regional retailers
- Property improvements include flat membrane roof re-coating in 2021, updated metal canopy, wet sprinkler system, double-pane windows, insulation under roof deck and exterior walls, and 3-phase electric
- Strong visibility and accessibility along the Mohawk Street commercial corridor
- Positioned in a growing Utica market benefiting from regional investment, including healthcare and semiconductor/manufacturing expansion
- Near-term upside through lease-up of three available suites, including one with an existing kitchen suited to food service conversion
Contact Alyssa Martin for additional information.