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