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Bay Road Office 375 Bay Rd 30,960 SF Office Building Queensbury, NY 12804 $2,395,000 ($77.36/SF) 9.19% Cap Rate
Investment Highlights
- Current Income From Several Regional / Gov't Tenants To Offset Expenses
- Gate Way to the Adirondacks & Short Drive to Lake George, SUNY ADK
- Potential To Expand with ~ 1 acre upfront w/Gov't Approvals
- 100% Bonus Depreciation - Cost Segregation potential for an owner/ user
Executive Summary
Dec 2025-LL open to 6 months of NNN 's only[ ~ $4/SF] on a solid 5 yr lease...
~ 10% Cash-on-Cash | ~ 9.19% Cap Rate | ~ $219,983 NOI
.. 100% Bonus Depreciation using Cost Segregation [~ $ 428k to $624K].. Price recently reduced from $2.6MM. #'s above reflect vacancy. There is another acre that could potentially be developed w/gov't approvals. Great for an owner / user as 6,955SF is available on 2nd floor. ~$300K in upgrades to bldg & 10yr renewal for gov't entity in 2024. Multi-tenanted w/ both medical & gov’t entities to off-set monthly operating expenses. Well maintained, two-story complex inside & out. Two, 2nd level suites across from each other. 6,955 RSF in total [$12/SF, NNN]. Bullpen areas [one with numerous cubicles (± 50) ready for occupancy], perimeter offices, conference rooms, kitchenettes, plenty of windows [natural light] & security features. Region destined to become "Silicon Valley of the East" w/help from Nvidia co-founders investment at RPI.. - Foothills of the Adirondacks-Lake George region. Office Mkt reversing course?
~ 10% Cash-on-Cash | ~ 9.19% Cap Rate | ~ $219,983 NOI
.. 100% Bonus Depreciation using Cost Segregation [~ $ 428k to $624K].. Price recently reduced from $2.6MM. #'s above reflect vacancy. There is another acre that could potentially be developed w/gov't approvals. Great for an owner / user as 6,955SF is available on 2nd floor. ~$300K in upgrades to bldg & 10yr renewal for gov't entity in 2024. Multi-tenanted w/ both medical & gov’t entities to off-set monthly operating expenses. Well maintained, two-story complex inside & out. Two, 2nd level suites across from each other. 6,955 RSF in total [$12/SF, NNN]. Bullpen areas [one with numerous cubicles (± 50) ready for occupancy], perimeter offices, conference rooms, kitchenettes, plenty of windows [natural light] & security features. Region destined to become "Silicon Valley of the East" w/help from Nvidia co-founders investment at RPI.. - Foothills of the Adirondacks-Lake George region. Office Mkt reversing course?
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
30,960 SF
Building Class
B
Year Built
2004
Price
$2,395,000
Price Per SF
$77.36
Cap Rate
9.19%
NOI
$220,101
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
14,275 SF
Building FAR
0.18
Lot Size
4.05 AC
Zoning
C-1 - Commercial Intensive
Parking
150 Spaces (4.84 Spaces per 1,000 SF Leased)
Amenities
- Atrium
- Signage
- Central Heating
- Fully Carpeted
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
- 2nd Fl-Ste 201
- 3,467 SF
- Office
- -
- Now
- 2nd Fl-Ste 202
- 3,488 SF
- Office
- -
- Now
| Space | Size | Space Use | Condition | Available |
| 2nd Fl-Ste 201 | 3,467 SF | Office | - | Now |
| 2nd Fl-Ste 202 | 3,488 SF | Office | - | Now |
2nd Fl-Ste 201
| Size |
| 3,467 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
2nd Fl-Ste 202
| Size |
| 3,488 SF |
| Space Use |
| Office |
| Condition |
| - |
| Available |
| Now |
Property Taxes
| Parcel Number | 523400-296-019-0001-032-000-0000 | Improvements Assessment | $2,129,000 |
| Land Assessment | $413,000 | Total Assessment | $2,542,000 |
Property Taxes
Parcel Number
523400-296-019-0001-032-000-0000
Land Assessment
$413,000
Improvements Assessment
$2,129,000
Total Assessment
$2,542,000
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Bay Road Office | 375 Bay Rd
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