952 Troy-Schenectady RdLatham, NY 12110

For Sale
$18,996,072.43

Thriving 151,666 SF shopping center, 100% occupied.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity, the Peter Harris Plaza, is a 151,666 square foot shopping center located at 952 Troy-Schenectady Rd, Latham, NY 12110. The property consists of two single-story buildings situated on a 10.08-acre lot and features 700 parking spaces. Currently boasting 100% occupancy with 18 tenants, this Class B shopping center offers a Net Lease (NNN) investment with a strong pro-forma NOI of $1,434,599 and a pro-forma cap rate of 7.55%. The current NOI is $1,377,215, and the asking price is $18,996,072.43, translating to a price per square foot of $125.25. The property is zoned COR and benefits from a desirable Latham location with high visibility and accessibility. The diverse tenant mix includes established businesses, ensuring a stable income stream. Current leases include built-in rent escalations, promising future revenue growth. This offering presents a compelling opportunity for investors seeking a stable, high-performing retail asset in a thriving market. The property is for sale by owner.

Highlights

  • Prime Latham location with high visibility and traffic counts.
  • Significant income growth potential due to below-market rents and approved 20,000 SF warehouse expansion.
  • Strong demographics: 30,000+ population and $90,000+ median household income.
  • Low tenant turnover rate.
  • Diverse tenant mix including Peter Harris Clothes, Play It Again Sports, and California Closets.
  • Attractive lease terms with built-in rent escalations.

Property Details for 952 Troy-Schenectady Rd

Property type
Lifestyle centers, Power centers
Square Feet
151,666 SF
Class
B
Buildings
2
Stories
1
Lot Size (sq. ft)
439,085 SF

Location Insight

City
Latham
County
Albany
State
New York
Latitude
42.762704323187
Longitude
-73.796847526921
952 Troy-Schenectady Rd, Latham, New York

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952 Troy-Schenectady Rd
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