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5 Elmwood Rd 40,600 SF Retail Building Menands, NY 12204 $1,750,000 ($43.10/SF)
Investment Highlights
- Warehousing , distribution facility
- New Roof, new electrical, new parking lot. Current owner will build to suit
- Highway access
Executive Summary
Rare opportunity to acquire a 40,600 SF warehouse/distribution building on 3.22± acres in Menands with immediate access to Route 378 and I-787. Formerly Olympic Lanes, the main bowling floor has been gutted to clean, wide-open space with 14' ceilings, offering maximum flexibility for warehousing, distribution, or light industrial use. A newly paved parking field wraps the property—ideal for fleet storage, staging, or heavy parking needs. A true blank canvas ready to be finished to your specifications. Approved use variance for warehouse/distribution is in place and runs with the land—no zoning hurdles. Minutes to downtown Albany, the Port of Albany, and the full Capital Region highway network. $1,750,000 ($43/SF) or $7.00 PSF NNN lease. OM and survey available.
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Property Facts
Sale Type
Investment or Owner User
Property Type
Building Size
40,600 SF
Building Class
C
Year Built/Renovated
1930/2024
Price
$1,750,000
Price Per SF
$43.10
Tenancy
Single
Building Height
1 Story
Building FAR
0.29
Lot Size
3.20 AC
Zoning
T4 - Property was granted a use variance to allow warehousing and a distribution facility.
Parking
50 Spaces (1.23 Spaces per 1,000 SF Leased)
Somewhat walkable
20/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 012603 55.6-1-3 | Improvements Assessment | $376,000 |
| Land Assessment | $124,000 | Total Assessment | $500,000 |
Property Taxes
Parcel Number
012603 55.6-1-3
Land Assessment
$124,000
Improvements Assessment
$376,000
Total Assessment
$500,000
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5 Elmwood Rd
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