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462-470 2nd Ave, Troy, NY 12182 462-470 2nd Ave 7,885 SF 100% Leased Retail Building Troy, NY 12182 $2,400,000 ($304.38/SF)
Executive Summary
Your Chance to own 5 meticulously maintained buildings with 12 units on connected properties. See the high end apartments with exquisite wood work, finishes, fixtures & exposed brick walls. The buildings are surrounded by gardens and open space, on the corner across from Stewart's and CVS, cross the 112th street bridge to Cohoes. Minutes to Downtown Troy, 787 and Rt 7. Many long term tenants provide steady income. Current cap rate 7% with a high market cap rate of 8.7%.
Property Facts
Sale Type
Investment
Sale Condition
Business Value Included
Property Type
Retail
Property Subtype
Building Size
7,885 SF
Building Class
C
Year Built
1890
Price
$2,400,000
Price Per SF
$304.38
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.29
Lot Size
0.14 AC
Zoning
CON
Frontage
32’ on 2nd Ave
About 462-470 2ND AVE , TROY, NY 12182
Prime Corner lot on the main entry into North Troy across bridge from Cohoes. 150 ft of frontage X 120' deep to alley. other corners and across street are Stewart's Shop, Mr Subb & CVS Pharmacy. Perfect location for a national retail brand. AADT Counts West 14,061, East 4,202, North 11,443 South 10,028 see details under documents. Currently property has buildings, would need to be cleared for redevelopment.
Fairly walkable
50/100
Exceptionally drivable
100/100
Good public transit
60/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $171,200 | |
| Land Assessment | $22,800 | Total Assessment | $194,000 |
Property Taxes
Parcel Numbers
Land Assessment
$22,800
Improvements Assessment
$171,200
Total Assessment
$194,000
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462-470 2nd Ave, Troy, NY 12182 | 462-470 2nd Ave