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    7 Halsey Ct Plattsburgh, NY 12901

    Sponsored
    For Sale
    $789,000

    16,310 SF, 9.04% Cap Rate, NN Lease

    Property size:
    16,310 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This fee-simple industrial property in Plattsburgh, NY, offers a compelling investment opportunity. The 16,310-square-foot building, constructed in 1958 and situated on a 2.5-acre lot, is currently 100% occupied by a single tenant: United Rentals, a leading equipment rental company with a BB+ credit rating. The property features three buildings and ample parking (30 spaces). The lease is a Net Lease (NN) structure, with the tenant responsible for taxes, insurance, maintenance (interior and non-structural), utilities, and minor parking lot repairs. The current lease has 2.5 years remaining, followed by two 5-year lease options with Fair Market Value (FMV) rent increases. Recent capital improvements exceeding $160,000 have been completed, including bathroom and conference room renovations, new flooring, fencing, drainage improvements, and a recently replaced roof (approximately 5 years old). The property boasts excellent access and visibility due to its frontage on Tom Miller Road and easy access to I-87. The asking price is $789,000, representing a 9.04% cap rate and a price per square foot of $48.38. The property is zoned for industrial use and presents a strong hedge against inflation given the FMV rent increases. This is a rare opportunity to acquire a well-maintained, strategically located industrial property with a high-credit tenant and a favorable lease structure.

    Property Features for 7 Halsey Ct

    General Information

    Property type
    Distribution properties
    Square Feet
    16,310 SF
    Class
    B
    Lot Size
    108,900 SF

    Building Details

    Year Built
    1958
    Buildings
    3
    Units
    1

    HighLights

    • Corporate Guarantee: United Rentals Realty, LLC, a leading equipment rental company with 1,400+ locations.
    • Recent Capital Improvements: Approximately $160,000 in renovations completed and ongoing (2023), including bathrooms, conference room, changing room, flooring, fencing, drainage, and roof replacement (approx. 5 years old).
    • Additional Storage: Approximately 100 sq ft of added fenced storage.
    • Inflation Hedge: Lease with United Rentals features rare, fair market value rent increases.
    • Excellent Location: High visibility frontage on Tom Miller Rd with easy I‑87 access.
    • Favorable Lease Terms: Triple Net (NNN) lease; tenant responsible for taxes, insurance, maintenance (interior and non‑structural), utilities, and minor parking lot repairs. Diner on a modified gross lease.
    Property Profile Location Intelligence

    Current Use by Public Records

    Beyond the Seams Embroidery Shop United Rentals Equipment Rental Agency

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Plattsburgh
    County
    Clinton
    State
    New York
    Longitude
    -73.4701842
    Latitude
    44.7082635

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    FAQs

    What type of property is this?
    Distribution property - 16,310 SF, 9.04% Cap Rate, NN Lease
    Where is this distribution property located?
    The property is located at 7 Halsey Ct Plattsburgh, NY.
    What is the asking price?
    The asking price for this property is $789,000.
    What are key features of this property?
    This property features: Corporate Guarantee: United Rentals Realty, LLC, a leading equipment rental company with 1,400+ locations.; Recent Capital Improvements: Approximately $160,000 in renovations completed and ongoing (2023), including bathrooms, conference room, changing room, flooring, fencing, drainage, and roof replacement (approx. 5 years old).; Additional Storage: Approximately 100 sq ft of added fenced storage.
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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
    7 Halsey Ct Plattsburgh, NY 12901
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