New York State Police | 5354 NY-12
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New York State Police 5354 NY-12
4,215 SF Retail Building Norwich, NY 13815 $532,188 ($126/SF) 8% Cap Rate
Investment Highlights
- The property benefits from a lease guaranteed by the government, boasting a strong AA+ credit rating (S&P)
- The tenant has been in continuous operation at this site since the 1980’s (nearly 40 years)
- Strategically positioned within a 50- mile radius of major cities including Birmingham, Syracuse, Utica, Cooperstown, and Oneonta.
- The site is positioned near major national tenants such as Walmart, Tractor Supply Co., Lowe’s, and Taco Bell
- The lease includes 3% annual rent increases, providing a consistent growth in Net Operating Income (NOI)
Executive Summary
The lease includes 3% annual rent increases, providing a consistent growth in Net Operating Income (NOI) and a natural hedge against
inflation. The tenant has been in continuous operation at this site since the 1980’s (nearly 40 years), reflecting a deep-rooted commitment to this location.
inflation. The tenant has been in continuous operation at this site since the 1980’s (nearly 40 years), reflecting a deep-rooted commitment to this location.
Property Facts Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
4,215 SF
Building Class
C
Year Built
1980
Price
$532,188
Price Per SF
$126
Cap Rate
8%
NOI
$42,575
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
1.06 AC
Zoning
C1 - intended to preserve and protect the County's natural resources, especially flood plain and floodway, while providing for their use and enjoyment
Parking
20 Spaces (4.74 Spaces per 1,000 SF Leased)
Frontage
92 FT on New York 12
PROPERTY TAXES
| Parcel Number | 084200-160-000-0001-019-200-0000 | Improvements Assessment | $85,000 |
| Land Assessment | $10,000 | Total Assessment | $95,000 |
PROPERTY TAXES
Parcel Number
084200-160-000-0001-019-200-0000
Land Assessment
$10,000
Improvements Assessment
$85,000
Total Assessment
$95,000
Contacts
-
Derrick Dougherty -
Nick Geaneotes -
Dougherty And Partners of Marcus & Millichap
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New York State Police | 5354 NY-12
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