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    235 N Genesee St Utica, NY 13501

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    For Sale
    $3,807,000

    NNN leased M&T Bank with zero landlord responsibilities.

    Property size:
    23,107 SF
    Lot size:
    0.97 Acres

    Property Features for 235 N Genesee St

    General Information

    Size
    23,107 SF
    Lot size
    0.97 Acres

    Source: SRS Industrial - Newport Beach Agent Matthew Mousavi

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Freestanding NNN M&T Bank

    This freestanding property is an absolute NNN leased M&T Bank, located in Utica, NY. The tenant has exercised their first option, with firm term through September 2029. The lease, guaranteed by the corporate entity (NYSE: MTB | S&P: BBB+), features an 8% rental increase at the beginning of the next option. As an absolute NNN lease, there are zero landlord responsibilities. Founded in 1856, M&T Bank has over 1,400 locations throughout the Northeastern U.S. According to the FDIC, this branch has over $91.2 million in deposits as of June 2024. The property contains 23107 square feet.
    Insight Report Location Intelligence

    Current Use by Public Records

    Banks

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Utica
    County
    Oneida
    State
    New York
    Longitude
    -75.2330821
    Latitude
    43.1002443

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    FAQs

    What type of property is this?
    Bank - NNN leased M&T Bank with zero landlord responsibilities.
    Where is this bank located?
    The property is located at 235 N Genesee St Utica, NY.
    What is the asking price?
    The asking price for this property is $3,807,000.
    What are key features of this property?
    This property features: - Absolute NNN lease with zero landlord responsibilities, offering a management-free, passive investment.; - Corporate guarantee from M&T Bank (NYSE: MTB | S&P: BBB+).; - Firm lease term through September 2029, demonstrating tenant commitment.
    (949) 698-1116
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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
    235 N Genesee St Utica, NY 13501
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