375 Bay Rd - Medical FOR SALE


Queensbury, NY 12804
$2,395,000 USD
518-364-7789
375 Bay Rd, Queensbury, NY for Sale
$2,395,000 USD
Medical - FOR SALE
1/39
null | 9.19% Cap Rate

375 Bay Rd
Queensbury, NY 12804


HIGHLIGHTS

  • Current Income From Several Regional / Gov't Tenants To Offset Expenses
  • Potential To Expand with ~ 1 acre upfront w/Gov't Approvals
  • Gate Way to the Adirondacks & Short Drive to Lake George, SUNY ADK
  • 100% Bonus Depreciation - Cost Segregation potential for an owner/ user

OVERVIEW

~ 10% Cash-on-Cash | ~ 9.19% Cap Rate | ~ $219,983 NOI .. 100% Bonus Depreciation using Cost Segregation [~ $ 428k to $624K].. Price recently reduced from $2.6MM. #'s above reflect vacancy. There is another acre that could potentially be developed w/gov't approvals. Great for an owner / user as 6,955SF is available on 2nd floor. ~$300K in upgrades to bldg & 10yr renewal for gov't entity in 2024. Multi-tenanted w/ both medical & gov’t entities to off-set monthly operating expenses. Well maintained, two-story complex inside & out. Two, 2nd level suites across from each other. 6,955 RSF in total [$12/SF, NNN]. Bullpen areas [one with numerous cubicles (± 50) ready for occupancy], perimeter offices, conference rooms, kitchenettes, plenty of windows [natural light] & security features. Region destined to become "Silicon Valley of the East" w/help from Nvidia co-founders investment at RPI.. - Foothills of the Adirondacks-Lake George region. Office Mkt reversing course?

FOR SALE DETAILS

PRICE

$2,395,000 USD

PRICE/SF

$77 USD /SF

CAP RATE

9.19%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bay Road Office

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

ADD'L SUBTYPES

Loft/Creative Space, Telecom Hotel/Data Hosting

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

150

LAND DETAILS

LAND ACRES

4.05 AC

LAND SF

176,418 SF

ZONING

C-1

APN/PARCEL ID

523400-296-019-0001-032-000-0000

ASK ABOUT THIS PROPERTY

Julie Gibbons, CCIMSterling Real Estate GroupMore Info
518-364-7789

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Julie Gibbons, CCIMSterling Real Estate GroupMore Info
518-364-7789

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