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Kay Music Plaza 1155 Mohawk St 14,560 SF Retail Building Utica, NY 13501 $1,200,000 ($82.42/SF) 9.11% Cap Rate
Investment Highlights
- Situated on a high-traffic corridor in East Utica, this 15,543 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
*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.
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.
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
9.11%
NOI
$109,289
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.22
Lot Size
1.50 AC
Zoning
Urban Mixed Use - Shopping Center / Strip Center / Enterprise Zone
Parking
90 Spaces (6.18 Spaces per 1,000 SF Leased)
Frontage
87’ on Mohawk St
Amenities
- 24 Hour Access
- Corner Lot
- Pylon Sign
- Restaurant
- Signage
- Storage Space
- Air Conditioning
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 |
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Videos
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Matterport 3D Tour
Photos
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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
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Contact the Sale Advisor
Kay Music Plaza | 1155 Mohawk St