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Kay Music Plaza 1155 Mohawk St 14,560 SF 78% Leased Retail Building Utica, NY 13501 $1,200,000 ($82.42/SF) 12% Cap Rate
Investment Highlights
- Situated on a high-traffic corridor in East Utica, this 14,560 SF plaza sits on 1.5 acres with 80+ parking spaces and 87 feet of Mohawk St frontage.
- High-income producing retail asset featuring 10 commercial units with a diversified tenant mix of retail, restaurant, and professional office uses.
Executive Summary
Kay Music Plaza presents a rare opportunity to acquire a high-income producing, multi-tenant retail property in the heart of East Utica. The 14,560 SF building sits on approximately 1.5 acres and features 10 commercial units currently occupied by a diversified mix of retail, restaurant, and professional office tenants, with 1 (3,000+ sq.ft.) vacancy offering immediate value-add potential.
Built in 1965, the property has been well-maintained and updated, including a recoated flat membrane roof (2021), new metal canopy, wet sprinkler system, improved insulation on the roof deck and exterior walls, double-pane windows throughout, and 3-phase electric service. The site offers 90 parking spaces and 87 feet of frontage on Mohawk Street, providing excellent visibility and accessibility.
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.
Built in 1965, the property has been well-maintained and updated, including a recoated flat membrane roof (2021), new metal canopy, wet sprinkler system, improved insulation on the roof deck and exterior walls, double-pane windows throughout, and 3-phase electric service. The site offers 90 parking spaces and 87 feet of frontage on Mohawk Street, providing excellent visibility and accessibility.
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.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,560 SF
Building Class
C
Year Built
1965
Price
$1,200,000
Price Per SF
$82.42
Cap Rate
12%
NOI
$144,036
Percent Leased
78%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.17
Lot Size
2.00 AC
Zoning
Urban Mixed Use
Parking
90 Spaces (6.18 Spaces per 1,000 SF Leased)
Frontage
87’ on Mohawk St
Amenities
- Pylon Sign
Space Availability
- Space
- Size
- Space Use
- Position
- Available
This massive space was once a music school, converted to a U-haul rental, and now awaits it's next opportunity. There's a full kitchen, a full bathroom, access to two half-bathroom restrooms in the hallway. There's tons of sign footage along Mohawk Ave across from Hanaford with tons of vehicle traffic. The shopping center boasts 80 parking spaces.
| Space | Size | Space Use | Position | Available |
| 2 | 3,200 SF | Flex | - | Now |
2
| Size |
| 3,200 SF |
| Space Use |
| Flex |
| Position |
| - |
| Available |
| Now |
1 of 13
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
2
| Size | 3,200 SF |
| Space Use | Flex |
| Position | - |
| Available | Now |
This massive space was once a music school, converted to a U-haul rental, and now awaits it's next opportunity. There's a full kitchen, a full bathroom, access to two half-bathroom restrooms in the hallway. There's tons of sign footage along Mohawk Ave across from Hanaford with tons of vehicle traffic. The shopping center boasts 80 parking spaces.
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 318-084-0001-078-000-0000 | Improvements Assessment | $179,000 |
| Land Assessment | $48,000 | Total Assessment | $227,000 |
Property Taxes
Parcel Number
318-084-0001-078-000-0000
Land Assessment
$48,000
Improvements Assessment
$179,000
Total Assessment
$227,000
1 of 13
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
Lockbox Realty
Kay Music Plaza | 1155 Mohawk St
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