213 Tracy Creek RdVestal, NY 13850

This exceptional 54,549 square foot Class B executive office building in Vestal, NY, is offered for sale at $3,750,000, boasting an impressive 8.96% cap rate. The property is 100% occupied under a new 10-year lease with the New York State agency, DASNY, commencing at $10.50 per square foot plus utilities, janitorial, and certain expense reimbursements. The tenant, a long-term occupant since 1989, has invested over $3,000,000 in renovations, transforming the space to meet their specific needs. This robust, cement and brick structure is exceptionally well-built, even featuring the structural integrity of a fallout shelter. The building benefits from a recently updated HVAC system, including high-efficiency Mitsubishi units, and a three-year-old ballasted roof with three inches of styrofoam insulation. Additional features include 3-phase electric, a 5,000 square foot gymnasium with 19-foot ceilings, and ample surface lot parking. The lease is a modified net lease, with the tenant responsible for expense increases above the base year. Strategically located near Apalachin and a town park, this property also enjoys convenient access to New York State Route 434. This is a rare opportunity to acquire a fully leased, high-quality office building with a strong, long-term tenant and a compelling financial profile. All rooms are firewalled.