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Karr Cold Storage | Milton, NY 1666 Route 9W 67,500 SF Industrial Building Milton, NY 12547 $14,000,000 ($207.41/SF) 7.71% Cap Rate
Investment Highlights
- 2023 CONSTRUCTION - Property consists of two facilities. 40,000 SF fully frozen building was added in 2023 to original 27,500 SF building.
- LONG TERM ABSOLUTE NNN LEASE - Tenant is responsible for taxes, insurance, CAM, and facility improvements.
- CENTRAL LOCATION FOR 3PL AND DISTRIBUTION - Positioned minutes from The NYS Thruway and I-84
- FOUR DECADES OF EXPERIENCE - Operating out of this location since the late 1970s
- TEMPERATURE CONTROLLED STORAGE - Karr has the ability to service both refrigerated and frozen temperatures
Executive Summary
CAP RATE - 7.71%
NOI - $1,080,000
LEASE TERM - 20 YEARS
OPTIONS - FOUR, FIVE-YEAR OPTIONS
INCREASES - 3% ANNUAL INCREASES
Property Facts
Amenities
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
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- Transportation and Warehousing
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- -
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In the late 1970’s, a little cold storage facility by the name Conn Freezer Warehouse opened in the Lower Hudson Valley, serving clients who wished to store their frozen perishables a short drive from NYC. The ensuing decades saw many advances in technology but the need to keep large quantities of food frozen never waned, and neither did Conn’s commitment to serving firms big and small with dedication. The firm would eventually be rebranded as Karr Cold Storage and ownership set out to advance its mission to befit the modern manufacturing world. With cold storage in ever-increasing demand, over 100,000 cubic feet of freezer space was added to Karr’s footprint, further accommodating its growing number of food partners across various industry sectors.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
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Transportation and Warehousing | - | - | - |
Property Taxes
| Parcel Number | 3600-103.003-0003-068.000-0000 | Improvements Assessment | $5,529,100 |
| Land Assessment | $183,500 | Total Assessment | $5,712,600 |
Property Taxes
Contacts
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James Watkins -
Tony Anderson -
Richard Brehaut -
Kent Presson -
Laurie Tylenda -
CBRE
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Karr Cold Storage | Milton, NY | 1666 Route 9W
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