339 BroadwayMenands, NY 12204

For Sale
$6,250,000

High-yield warehouse, 54,704 SF, 7.41% cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional Menands, NY industrial property presents a compelling investment opportunity. Located at 339 Broadway, this single-story, 54,704-square-foot warehouse sits on a substantial 6.7-acre lot, offering ample space for parking, storage, and fleet operations. Built in 1969, the Class C building features a 20-foot ceiling height, one loading dock with one dock-high door, and is currently configured as a multi-tenant property with three tenants under a triple-net (NNN) lease. The current lease term is five years, commencing October 15, 2023, and expiring October 31, 2028, leaving approximately 3.9 years remaining. The asking price is $6,250,000, representing a compelling price per square foot of $114.25 and a strong 7.41% capitalization rate based on a net operating income (NOI) of $462,900. The property's zoning designation is 86, and its size and features make it ideal for distribution, manufacturing, or warehousing operations within the Albany, NY market. The ample lot size allows for over 47 parking spaces, further enhancing its operational efficiency. This is a rare opportunity to acquire a well-located, high-performing industrial asset with significant upside potential.

Highlights

  • 54,704 SF warehouse featuring three drive-in doors and one dock-high door, plus 20' clear height, suitable for distribution, manufacturing, and warehousing.
  • 6.70-acre site with ample parking (47+ spaces) and outdoor storage capacity.

Property Details for 339 Broadway

Property type
Other warehouses, Other industrial properties
Square Feet
54,704 SF
Class
C
Year Built
1969
Buildings
1
Stories
1
Lot Size (sq. ft)
291,852 SF

Location Insight

City
Menands
County
Albany
State
New York
Latitude
42.694318804011
Longitude
-73.720465406898
339 Broadway, Menands, New York

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339 Broadway
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