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23401331
23401332

1963 Altamont Ave, Schenectady, NY 12303

DS
MI 6501387591
Encore Real Estate Investment Services
DB
MI 6502378067, OH BRKP.2020008390
Encore Real Estate Investment Services
Listed by Encore Real Estate Investment Services
$1,050,000
385 days on market
Updated 29 days ago

Arrow Bank

Details
Property Type Retail
Sub Type Bank, Storefront
Square Footage 2,228
Cap Rate 7.14%
NOI $75,000
Occupancy 100%
Tenancy Single
Brand/Tenant Arrow Bank
Lease Type NNN
Lease Term 10
Lease Expiration 05/27/2029
Remaining Term 3
Rent Bumps Yes
Lease Options (3) Five-year Options
Price per SqFt $471
Year Built 1980
Year Renovated 2018
Buildings 1
Acreage 0.490
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 05/28/2019

Absolute NNN - Zero Landlord Responsibilities

Investment highlights

  • Absolute NNN - Zero Landlord Responsibilities

  • Publicly Traded on Nasdaq (AROW) - Arrow Bank has 550 Employees and 38 Branches in Northeastern New York holding $4.4 Billion in Assets

  • Pad to Price Chopper Grocery Store with New AutoZone Built in 2020 as Out Parcel

  • Combined Traffic Counts in Excess of 36,000 Vehicles Per Day

  • Recently Saratoga Bank & Trust ; Arrow Financial unified its banking subsidiaries to Arrow Bank

  • Pad to Market 32 by Price Chopper Grocery Store and Brand New Auto Zone Built Nearby

  • High Visibility Located at a Signalized Intersection w/ Combined Traffic Counts in Excess of 36,000 Vehicles Per Day

  • Surrounded by Major National Retailers: Auto Zone, Taco Bell, CVS, Walmart, Dollar Tree, McDonalds and Many More

  • Less than 20 Miles from Albany, New York and Albany International Airport

  • Positioned Between Highways 90 and 890 on Altamont Avenue

Listing Contacts

DS
MI 6501387591
Encore Real Estate Investment Services
DB
MI 6502378067, OH BRKP.2020008390
Encore Real Estate Investment Services
Listed by Encore Real Estate Investment Services

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$75,000.00
$6,250.00/mo

Valuation Metrics

0
DSCR
7.14%
Cap Rate
7.14%
ROI

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Additional Information

Name
Brian Brockman
License
10311208985
Brokerage
Bang Realty
Brokerage Phone
5138981551
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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