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The Frear Building 2 3rd St

90,000 SF 92% Leased Office Building Troy, NY 12180 $5,600,000 ($62/SF)

Investment Highlights

  • Views of Downtown Troy & Hudson River
  • High Pedestrian Traffic
  • Structure on the Historic Register

Executive Summary

Major downtown Troy commercial marquee structure with 100,000+ SF of commercial Class B office and retail space. Located in site of the Hudson River waterfront, right off of a major highway, and situated at the entrance of downtown Troy. Mixed-use zoning district allows for nearly all commercial, residential, and some industrial uses. Both buildings on the tax lot are structurally connected with some shared utility services to each other as well as the city owned portion of the Troy Atrium. The property is offered as part of a three tax-parcel development/re-development portfolio that includes 2 3rd St (The Frear Building) and The Troy Atrium (on Broadway between 3rd & 4th St). Contact the LBO for full offering memorandum and additional information.

Property Facts

Sale Type
Investment
Property Type
Office
Building Size
90,000 SF
Building Class
B
Year Built/Renovated
1900/1990
Price
$5,600,000
Price Per SF
$62
Percent Leased
92%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
22,500 SF
Building FAR
2.22
Lot Size
0.93 AC
Opportunity Zone
Yes
Zoning
DMU (Downtown Mixed-Use) - Downtown II Intensity Zone, Historic District Overlay, & Resilient Waterfront Overlay
Parking
6 Spaces (0.07 Spaces per 1,000 SF Leased)

Space Availability

  • Space
  • Size
  • Space Use
  • Condition
  • Available
  • 1st Fl-Ste F-150
  • 3,000 SF
  • Office/Retail
  • Partial Build-Out
  • Now

Troy's preeminent Frear building located at the entrance to the historic downtown has 3,000 RSF of retail/office space available for lease. Floor-to-ceiling windows overlook Fulton and 3rd street at the corner of this busy intersection. 17-foot-ceilings and a wide open area provide abundant floor space. A glass enclosed office is centered on the floor. There is access to a shared kitchenette and bathroom, and the availability of additional basement storage.

  • 2nd Fl-Ste 280
  • 2,128 SF
  • Office
  • -
  • Now

Troy's preeminent Frear building located at the entrance to historic downtown offers 2nd floor office space with period features and high ceilings. Floor to ceiling windows overlook Fulton St. and the Hudson River let in loads of natural light. Three enclosed office spaces and 12' ceiling height in main open area. Building offers access to high-speed fiberoptic internet service, and renovated bathrooms and elevators. Another 913 USF connected adjacent space also available for lease.

  • 3rd Fl-Ste F-330
  • 2,430 SF
  • Office
  • Full Build-Out
  • Jan 2025

Troy's preeminent Frear building located at the entrance to historic downtown offers 3rd floor office space with period features and high ceilings. Space has two kitchenettes, (3) enclosed offices, 13' ceiling height in main open space room. Building offers access to high-speed fiber optic internet service, and newly renovated bathrooms and elevators. Space may be subdivided into 1,272 USF and 1,158 USF.

Space Size Space Use Condition Available
1st Fl-Ste F-150 3,000 SF Office/Retail Partial Build-Out Now
2nd Fl-Ste 280 2,128 SF Office - Now
3rd Fl-Ste F-330 2,430 SF Office Full Build-Out Jan 2025

1st Fl-Ste F-150

Size
3,000 SF
Space Use
Office/Retail
Condition
Partial Build-Out
Available
Now

2nd Fl-Ste 280

Size
2,128 SF
Space Use
Office
Condition
-
Available
Now

3rd Fl-Ste F-330

Size
2,430 SF
Space Use
Office
Condition
Full Build-Out
Available
Jan 2025

1st Fl-Ste F-150

Size 3,000 SF
Space Use Office/Retail
Condition Partial Build-Out
Available Now

Troy's preeminent Frear building located at the entrance to the historic downtown has 3,000 RSF of retail/office space available for lease. Floor-to-ceiling windows overlook Fulton and 3rd street at the corner of this busy intersection. 17-foot-ceilings and a wide open area provide abundant floor space. A glass enclosed office is centered on the floor. There is access to a shared kitchenette and bathroom, and the availability of additional basement storage.

2nd Fl-Ste 280

Size 2,128 SF
Space Use Office
Condition -
Available Now

Troy's preeminent Frear building located at the entrance to historic downtown offers 2nd floor office space with period features and high ceilings. Floor to ceiling windows overlook Fulton St. and the Hudson River let in loads of natural light. Three enclosed office spaces and 12' ceiling height in main open area. Building offers access to high-speed fiberoptic internet service, and renovated bathrooms and elevators. Another 913 USF connected adjacent space also available for lease.

3rd Fl-Ste F-330

Size 2,430 SF
Space Use Office
Condition Full Build-Out
Available Jan 2025

Troy's preeminent Frear building located at the entrance to historic downtown offers 3rd floor office space with period features and high ceilings. Space has two kitchenettes, (3) enclosed offices, 13' ceiling height in main open space room. Building offers access to high-speed fiber optic internet service, and newly renovated bathrooms and elevators. Space may be subdivided into 1,272 USF and 1,158 USF.

Walk Score ®
Walker's Paradise (92)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
1700-101.45-6-1
Land Assessment
$540,000
Improvements Assessment
$2,960,000
Total Assessment
$3,500,000
  • Listing ID: 30648844

  • Date on Market: 9/20/2023

  • Last Updated:

  • Address: 2 3rd St, Troy, NY 12180

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