1204 Eastern Ave | Schenectady, NY 12308
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- LoopNet Team
1204 Eastern Ave
Schenectady, NY 12308
CVS New 15 Yr 5% Increases Near Hospital · Retail Property For Sale
Investment Highlights
- STABLE INCOME - Income guaranteed by CVS Corporation with over 9,900 locations.
- 5% RENTAL INCREASES EVERY 5 YS IN OPTIONS - New lease allows for increases of 5% every 5 yrs during the options, rent will be $300,100 in Feb 2023.
- ELLIS HOSPITAL & MCCLELLAN HEALTH - Two medical facilities nearby (Ellis Hospital, 356-beds) and McClellan St Health (rehabilitation center).
- ABSOLUTE NET LEASE WITH NEW 15 YR TERM - CVS has agreed to a new 15-year absolute net lease with 10 (5-year) options to extend.
- STRATEGIC DRUGSTORE LOCATION - There is a Walgreens directly across the street making this a strategic location for both drugstores.
- AREA EMPLOYERS – General Electric employs ±4K in 1.3M SF campus. Golub Corp. owns a ±1.1M distribution center and employs ±700.
PROPERTY FACTS
Property Type
Retail
Property Subtype
Building Size
10,200 SF
Building Class
C
Year Built
2000
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Land Acres
1.03 AC
Zoning
05
Parking
36 Spaces
Frontage
84 FT on Eastern Ave
Amenities
- Drive Thru
PROPERTY TAXES
| Parcel Number | 050-021-0003-039-001-0000 | Improvements Assessment | $2,812,600 |
| Land Assessment | $505,400 | Total Assessment | $3,318,000 |
PROPERTY TAXES
Parcel Number
050-021-0003-039-001-0000
Land Assessment
$505,400
Improvements Assessment
$2,812,600
Total Assessment
$3,318,000
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