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The Farm Upstate 1836-1838 Route 44/55 40,000 SF 100% Leased Industrial Building Modena, NY 12548 $5,500,000 ($137.50/SF) 3.91% Cap Rate
INVESTMENT HIGHLIGHTS
- Entitled for 55 RV Camper Pads
- Seller Financing Available At Preferable Rates
- Currently cash flowing with mixed use residential units and industrial storage
EXECUTIVE SUMMARY
LOW TOUCH DEVELOPMENT OPPORTUNITY
Through thoughtful landscaping, light renovation of existing structures, and creative programming, this 20+ acre mixed-use property can be repositioned as a hospitality destination—a restful and inspiring road trip stop at the gateway to the Hudson Valley. With the right team and a simple brand story, this blank slate will become a reason to pull over, and maybe even stay the night. All while currently cash flowing with low vacancy and additional value-add opportunity. Seller financing available.
Farmland: 20+ acres of land located on highly travelled Country Route 44 55
in Modena, NY.
Entitlements: Approved for 55 RV camper pads.
The Cooler: 39,000+ SF mixed use building, including 10 one-bedroom
apartments, two refrigerated storage bays, 10 bay garage, plus ample industrial
storage space with endless possibilities. Current storage tenants include an
apple orchard, a trucking company and antique storage.
Residences: All units separately metered for electric (tenants pay all utilities).
3 bedroom rental cabin. Huge upside potential through renovation and
increased rents.
Through thoughtful landscaping, light renovation of existing structures, and creative programming, this 20+ acre mixed-use property can be repositioned as a hospitality destination—a restful and inspiring road trip stop at the gateway to the Hudson Valley. With the right team and a simple brand story, this blank slate will become a reason to pull over, and maybe even stay the night. All while currently cash flowing with low vacancy and additional value-add opportunity. Seller financing available.
Farmland: 20+ acres of land located on highly travelled Country Route 44 55
in Modena, NY.
Entitlements: Approved for 55 RV camper pads.
The Cooler: 39,000+ SF mixed use building, including 10 one-bedroom
apartments, two refrigerated storage bays, 10 bay garage, plus ample industrial
storage space with endless possibilities. Current storage tenants include an
apple orchard, a trucking company and antique storage.
Residences: All units separately metered for electric (tenants pay all utilities).
3 bedroom rental cabin. Huge upside potential through renovation and
increased rents.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $5,500,000 | Lot Size | 26.50 AC |
| Price Per SF | $137.50 | Rentable Building Area | 40,000 SF |
| Sale Type | Investment or Owner User | No. Stories | 2 |
| Cap Rate | 3.91% | Year Built | 1947 |
| Sale Condition | Redevelopment Project | Parking Ratio | 0.78/1,000 SF |
| Property Type | Industrial | Clear Ceiling Height | 20’ |
| Property Subtype | Warehouse | No. Drive In / Grade-Level Doors | 8 |
| Building Class | C | ||
| Zoning | RR1.5 | ||
| Price | $5,500,000 |
| Price Per SF | $137.50 |
| Sale Type | Investment or Owner User |
| Cap Rate | 3.91% |
| Sale Condition | Redevelopment Project |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 26.50 AC |
| Rentable Building Area | 40,000 SF |
| No. Stories | 2 |
| Year Built | 1947 |
| Parking Ratio | 0.78/1,000 SF |
| Clear Ceiling Height | 20’ |
| No. Drive In / Grade-Level Doors | 8 |
| Zoning | RR1.5 |
AMENITIES
- 24 Hour Access
- Cooler
- Signage
- Waterfront
- Storage Space
UTILITIES
- Water - Well
- Sewer - Septic Field
- Heating - Electric
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PROPERTY TAXES
| Parcel Number | 4200-101.002-0001-002.000-0000 | Improvements Assessment | $608,000 |
| Land Assessment | $117,000 | Total Assessment | $725,000 |
PROPERTY TAXES
Parcel Number
4200-101.002-0001-002.000-0000
Land Assessment
$117,000
Improvements Assessment
$608,000
Total Assessment
$725,000
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The Farm Upstate | 1836-1838 Route 44/55
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