The Frear Building 2 3rd St 90,000 SF 88% Leased Office Building Troy, NY 12180 $5,600,000 ($62.22/SF)

INVESTMENT HIGHLIGHTS

  • Views of Downtown Troy & Hudson River
  • High Pedestrian Traffic
  • Structure on the Historic Register

EXECUTIVE SUMMARY

Major downtown Troy commercial marquee structure with 100,000+ SF of commercial Class B office and retail space. Located in site of the Hudson River waterfront, right off of a major highway, and situated at the entrance of downtown Troy. Mixed-use zoning district allows for nearly all commercial, residential, and some industrial uses. Both buildings on the tax lot are structurally connected with some shared utility services to each other as well as the city owned portion of the Troy Atrium. The property is offered as part of a three tax-parcel development/re-development portfolio that includes 2 3rd St (The Frear Building) and The Troy Atrium (on Broadway between 3rd & 4th St). Contact the LBO for full offering memorandum and additional information.

PROPERTY FACTS

Sale Type
Investment
Property Type
Office
Building Size
90,000 SF
Building Class
B
Year Built/Renovated
1900/1990
Price
$5,600,000
Price Per SF
$62.22
Percent Leased
88%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
22,500 SF
Building FAR
2.22
Lot Size
0.93 AC
Opportunity Zone
Yes
Zoning
DMU (Downtown Mixed-Use) - Downtown II Intensity Zone, Historic District Overlay, & Resilient Waterfront Overlay
Parking
6 Spaces (0.07 Spaces per 1,000 SF Leased)

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • SPACE USE
  • CONDITION
  • AVAILABLE
  • 1st Fl-Ste F-112
  • 7,836 SF
  • Office
  • -
  • Now
  • 1st Fl-Ste F-150
  • 3,000 SF
  • Office/Retail
  • Partial Build-Out
  • Now

Troy's preeminent Frear building located at the entrance to the historic downtown has 3,000 RSF of retail/office space available for lease. Floor-to-ceiling windows overlook Fulton and 3rd street at the corner of this busy intersection. 17-foot-ceilings and a wide open area provide abundant floor space. A glass enclosed office is centered on the floor. There is access to a shared kitchenette and bathroom, and the availability of additional basement storage.

Space Size Space Use Condition Available
1st Fl-Ste F-112 7,836 SF Office - Now
1st Fl-Ste F-150 3,000 SF Office/Retail Partial Build-Out Now

1st Fl-Ste F-112

Size
7,836 SF
Space Use
Office
Condition
-
Available
Now

1st Fl-Ste F-150

Size
3,000 SF
Space Use
Office/Retail
Condition
Partial Build-Out
Available
Now
Walk Score®
Walker's Paradise (92)

PROPERTY TAXES

  • Listing ID: 30648844

  • Date on Market: 9/20/2023

  • Last Updated:

  • Address: 2 3rd St, Troy, NY 12180