Listed by Venture Brokerage Group
$2,600,000
Greece Income-Producing Office Investment
Details
Property Type Office
Sub Type Traditional Office, Executive Office
Square Footage 21,000
Cap Rate 6.46%
NOI $168,000
Tenancy Multi
Lease Type Net
Class A
Year Built 1994
Buildings 2
Acreage 2.490
Parking Spaces 80 spaces
Parking per 1,000 SqFt 3.81
Investment Type Value Add
Office | 6.46% CAP | 21,000 SqFt
Marketing description
This is a rare opportunity to acquire two income-producing Class A office buildings on 10+/- acres in the main business corridor of Greece, NY. Building 1 offers 15,000 SF of space available for owner or investor use, with 5,000 SF on the ground floor and 10,000 SF on the 2nd floor generating $5,000 monthly ($60,000 annually). Building 2 is a separate 6,000 SF building occupied by an existing day care generating $9,000 monthly ($108,000 annually). The property is strategically located just off Ridgeway Avenue and accessible from Long Pond Road, just 0.7 miles from Interstate-390 and less than 3 miles from Greece Ridge Mall and the main retail corridor of Greece.
Investment highlights
- Strategic location in the main business corridor of Greece just off Ridgeway Avenue, also accessible from Long Pond Road
- Class A office space ideal for medical, dental or professional use; elevator access with ample parking, approximately 80 parking spaces on site
- Excellent office layout with large common area, reception/waiting area, conference room & break room with multiple private offices
- High traffic counts along Ridgeway Avenue of approximately 21,619 VPD and 19,248 VPD on Long Pond Road
- Just 0.7 miles from Interstate-390 (81,117 VPD) and less than 3 miles (7-minute drive) from Greece Ridge Mall and the main retail corridor of Greece
Listing Contacts
Listed by Venture Brokerage Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$168,000.00
$14,000.00/mo
Valuation Metrics
0
DSCR
6.46%
Cap Rate
6.46%
ROI
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