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    213 Tracy Creek Rd Vestal, NY 13850

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    For Sale
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    Prime Vestal office building with long-term lease.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This Vestal, NY office building presents a unique investment opportunity. A new 10-year lease with the New York State agency DASNY is in place, at a rate of $10.50 per square foot, plus utilities, janitorial, and certain expenses. The tenant, a New York State agency, has occupied the premises since 1989, demonstrating a long-term commitment to the location. Over $3,000,000 has been invested in renovations to customize the space, ensuring a modern and functional environment. The building itself is a robust cement and brick structure, built to high standards and described as durable enough to function as a fallout shelter. Key features include 3-phase electric service, updated furnaces, energy-efficient Mitsubishi HVAC units, and a recently replaced (3-year-old) ballasted roof. Firewalled rooms enhance safety and security. A significant amenity is the inclusion of a 5,000 square foot gymnasium with a generous 19-foot ceiling clearance. The property enjoys a secluded yet convenient location in Vestal, near Apalachin, adjacent to a park with soccer fields, and just two blocks from NY State Route 434, providing easy access to major highways. The lease is structured as a modified net lease, with the tenant responsible for expense increases above the base year. This represents a compelling investment opportunity, featuring a strong, long-term tenant and a beautifully redeveloped property.

    Property Features for 213 Tracy Creek Rd

    General Information

    Property type
    Office Properties & Spaces

    Building Details

    Year Built
    1989
    Property Profile Location Intelligence

    Current Use by Public Records

    Parent to Parent of NYS ... Non-Profit Organization

    Suggested Use

    Restaurant Dental Office Auto Repair Shop Accounting Firm Kitchen & Bath Bar & Pub Grocery Store Electrical Service Computer & Electronic Repair Furniture Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Vestal
    County
    Broome
    State
    New York
    Longitude
    -76.0999
    Latitude
    42.06639

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Vestal office building with long-term lease.
    Where is this office property / space located?
    The property is located at 213 Tracy Creek Rd Vestal, NY.
    (607) 203-1826
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    213 Tracy Creek Rd Vestal, NY 13850
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    Vestal, NY 13850
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    213 Tracy Creek Rd Vestal, NY 13850
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