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Imperial Lanes 249 Wallins Corners Rd 24,961 SF Retail Building Amsterdam, NY 12010 $895,900 ($35.89/SF) 6.70% Cap Rate
Investment Highlights
- Long history of solid financial performance
- Turnkey business
- High traffic location
- Prime redevelopment opportunity
Executive Summary
25,000 SQ.FT. COMMERCIAL BUILDING ON 1.90 ACRES DIRECTLY ADJACENT TO LOWES HOME IMPROVEMENT
Ideal location for range of business or take advantage of the B-1 business development zoning and build to your specifications on the 1.9 acre lot.
Currently, the existing building is home to a long established recreation center, Imperial Lanes, and "as is" offers a prime opportunity to own a commercial real estate/turnkey business combination. The purchase includes the building and accompanying land, all bowling equipment & accessories plus a fully equipped bar & restaurant with additional square footage currently used for live entertainment and events. Current lease is month to month and below market. The tenant is willing to sign a longer term lease.
The 25,000 sq. ft. building could also be converted for warehouse/distribution, light industrial, retail, car wash, etc.
Ideal location for range of business or take advantage of the B-1 business development zoning and build to your specifications on the 1.9 acre lot.
Currently, the existing building is home to a long established recreation center, Imperial Lanes, and "as is" offers a prime opportunity to own a commercial real estate/turnkey business combination. The purchase includes the building and accompanying land, all bowling equipment & accessories plus a fully equipped bar & restaurant with additional square footage currently used for live entertainment and events. Current lease is month to month and below market. The tenant is willing to sign a longer term lease.
The 25,000 sq. ft. building could also be converted for warehouse/distribution, light industrial, retail, car wash, etc.
Financial Summary (Pro Forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$100,000
|
$4.01
|
| Other Income |
$25,000
|
$1.00
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$125,000
|
$5.01
|
| Taxes |
$35,000
|
$1.40
|
| Operating Expenses |
$10,000
|
$0.40
|
| Total Expenses |
$45,000
|
$1.80
|
| Net Operating Income |
$80,000
|
$3.20
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $100,000 |
| Annual Per SF | $4.01 |
| Other Income | |
|---|---|
| Annual | $25,000 |
| Annual Per SF | $1.00 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $125,000 |
| Annual Per SF | $5.01 |
| Taxes | |
|---|---|
| Annual | $35,000 |
| Annual Per SF | $1.40 |
| Operating Expenses | |
|---|---|
| Annual | $10,000 |
| Annual Per SF | $0.40 |
| Total Expenses | |
|---|---|
| Annual | $45,000 |
| Annual Per SF | $1.80 |
| Net Operating Income | |
|---|---|
| Annual | $80,000 |
| Annual Per SF | $3.20 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
24,961 SF
Building Class
B
Year Built
1949
Price
$895,900
Price Per SF
$35.89
Cap Rate
6.70%
NOI
$60,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.30
Lot Size
1.90 AC
Zoning
B-1 - Business development zone
Parking
80 Spaces (3.2 Spaces per 1,000 SF Leased)
Frontage
175’ on Wallins Corners Rd
Amenities
- Pylon Sign
- Restaurant
- Signage
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Kelly's Imperial Lanes
- Arts, Entertainment, and Recreation
- -
- -
- -
Kelly's Imperial Lanes is a privately held company in Amsterdam, NY
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Kelly's Imperial Lanes | Arts, Entertainment, and Recreation | - | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 272089-024-016-0001-012-002-0000 | Total Assessment | $45,168 (2024) |
| Land Assessment | $10,850 (2024) | Annual Taxes | $35,000 ($1.40/SF) |
| Improvements Assessment | $34,318 (2024) | Tax Year | 2025 |
Property Taxes
Parcel Number
272089-024-016-0001-012-002-0000
Land Assessment
$10,850 (2024)
Improvements Assessment
$34,318 (2024)
Total Assessment
$45,168 (2024)
Annual Taxes
$35,000 ($1.40/SF)
Tax Year
2025
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Imperial Lanes | 249 Wallins Corners Rd
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