690-696 River St Troy, NY 12180
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High-return mixed-use property in Troy, NY
Property size:
1,636 SFProperty Features for 690-696 River St
General Information
- Property type
- Retail properties
- Square Feet
- 1,636 SF
- Lot Size
- 17,424 SF
Listing Agency: Howard Hanna Real Estate Services Listing Agent: Joseph P Cardinale
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This mixed-use property in Troy, NY, offers a compelling investment opportunity. Priced at $2,000,000, this 1,636 square foot property boasts an 8.10% cap rate, with potential to reach 10% or higher. The property includes a fully equipped car wash featuring top-of-the-line equipment entirely replaced in 2020. This includes a complete Balanger & Sonny's Tunnel System with Innovation Control System, a Sonny's Banana Peel 120' Conveyor System with Hydraulic Pump Drive, and a Carolina Pride Express 4 Bay Self Serves system. The car wash features radiant heating on tunnel entrance and exit pads, and self-serve floors with 10' runouts. Adding to the income stream, a three-bay service garage and office area are currently leased, generating substantial additional revenue. The property sits on a 0.4-acre lot, strategically located on River Street with high traffic counts (AADT 11372 & AADT 5289). This location benefits from Troy's ongoing revitalization, presenting significant growth potential. The property is classified as retail and mixed-use, offering a value-add investment opportunity with a modified lease and multi-tenancy. A virtual tour is available for a comprehensive view of this exceptional property.
Property Profile
Location Intelligence
Current Use by Public Records
Commercial real estate
Location Insight
- Map
- Local Demand
- City
- Troy
- County
- Rensselaer
- State
- New York
- Longitude
- -73.6833708
- Latitude
- 42.7456568
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FAQs
What type of property is this?
Retail property - High-return mixed-use property in Troy, NY
Where is this retail property located?
The property is located at 690-696 River St Troy, NY.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 2020-installed state-of-the-art car wash equipment.; 8.1% current cap rate, with potential to exceed 10%.; Prime location poised for growth due to Troy's revitalization.