718-496-9820
209 Tracy Creek Rd, Vestal Township, NY for Sale
Warehouse - FOR SALE
1/6
null | 7.7% Cap Rate

209 Tracy Creek Rd
Vestal Township, NY 13850


HIGHLIGHTS

  • NYS Government Tenancy
  • Long-term income stability

OVERVIEW

209 - 213 Tracy Creek Road presents an opportunity to acquire a long-term New York State government-leased investment occupied by the New York State Office for People With Developmental Disabilities (OPWDD), with the lease executed by The People of the State of New York through DASNY. The property benefits from approximately 9 years of remaining lease term, plus a 5-year renewal option, providing investors with long-term income visibility and limited near-term rollover exposure. The lease is a Modified Gross structure with reimbursement provisions that help offset increases in certain operating expenses. The strength of the tenancy is a major component of the investment. DASNY is a New York State public authority with more than 80 years of history, serving as a major financing and construction arm for critical public-purpose infrastructure throughout the state. The actual occupant, OPWDD, is a New York State agency providing essential services to New Yorkers with developmental disabilities. Together, the structure provides an institutional-quality government tenancy and an essential-use occupancy profile. The property offers investors an attractive combination of government-backed tenancy, durable cash flow, contractual rent growth, approximately nine years of remaining term, and an additional five years of potential occupancy through the renewal option. Address: 209 & 213 Tracy Creek Road, Vestal NY 13850 County: Broome County Building SF: 54,549 Lot SF: 320,976 Lot Acreage: 7.369 Zoning: C-2 Year Built: 1985 Stories: 1 Tenancy: Single

FOR SALE DETAILS

PRICE

Request Info for Price

CAP RATE

7.7%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Flex / Office

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

ADD'L SUBTYPES

Loft/Creative Space, Medical, Light Distribution

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1989

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

7.39

LAND SF

321,908

ZONING

C-2

APN/PARCEL ID

034800-172-071-0002-021-000-0000

ASK ABOUT THIS PROPERTY

Julio ReyesReyes & ElsamadMore Info
718-496-9820

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

Julio ReyesReyes & ElsamadMore Info
718-496-9820

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.