325 State St
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325 State St
27,870 SF 100% Leased Retail Building Schenectady, NY 12305 $1,350,000 ($48/SF)
Investment Highlights
- Outstanding space & decor throughout. Large outdoor patio. Bldg easily sub-divided or reconfugured for other uses. Cooperative Municipality.
- Add value with conversion to office or residential. Mixed-use acceptable to zoning. PILOT available.
- Second floor has an additional bar with open meeting & seating space for 150 guests.
- (1) Elevator
Executive Summary
Renovated in 2014, this restaurant offers a prime investment opportunity in a rapidly developing area. Located near hotels, the state-of-the-art aquatic center, and the new hockey rink, this property is poised for growth and high traffic. Seating capacity is 400+ (plus private patio seating) with 2 full productions lines on 1st floor, kitchen prep area on 2nd floor, and office spaces and owner's apartment on 3rd floor. Over 24,000 SF, making it perfect for conversion to office space, residential units, or continued use as an entertainment venue. This prime location is perfect for businesses seeking proximity to the new hotels, aquatic center, and hockey rink, making it an ideal choice for various commercial or residential developments.
Financial Summary (Pro forma - 2022) |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
$6,600
|
$0.24
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$6,600
|
$0.24
|
Financial Summary (Pro forma - 2022)
| Taxes | |
|---|---|
| Annual | $6,600 |
| Annual Per SF | $0.24 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $6,600 |
| Annual Per SF | $0.24 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
27,870 SF
Building Class
B
Year Built/Renovated
1950/2014
Price
$1,350,000
Price Per SF
$48
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.46
Lot Size
0.26 AC
Opportunity Zone
Yes
Zoning
C4 - Downtown Mixed-Use (C-4) encourages a mix of commercial, civic, cultural & hospitality uses. Increased densities & scale are encouraged.
Frontage
Walk Score ®
Walker's Paradise (90)
Bike Score ®
Very Bikeable (71)
Nearby Major Retailers
Contacts
-
Karen Zalewski-Wildzunas -
Richard Kessler -
Berkshire Hathaway Home Services Blake Realtors
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325 State St
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