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    690-696 River St Troy, NY 12180

    For Sale
    $2,000,000

    High-yield office building in Troy, NY.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This exceptional investment opportunity presents a single-tenant office building located at 690-696 River Street, Troy, NY 12180. The property is offered at an asking price of $2,000,000, with a projected cap rate of 10.57%. While the square footage is currently listed as 0, the property includes a three-bay service garage and office area currently generating supplemental income from a lease. Significant upgrades were completed in 2020, including the replacement of all car wash equipment with top-of-the-line systems. 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. Radiant heating is installed on the tunnel entrance and exit pads, and the self-serve floors feature 10' runouts. The property benefits from its strategic location, abutting streets with high average annual daily traffic (AADT) of 11,372 and 5,289. This presents a unique chance to capitalize on Troy's revitalization and substantial growth potential. A virtual tour is available for a comprehensive walkthrough of the car wash. Detailed financial information is available upon request. The lease type is modified, and the tenancy is single.

    Property Features for 690-696 River St

    General Information

    Property type
    Office Properties & Spaces

    HighLights

    • $2,000,000 asking price.
    • Office property in Troy, NY.
    • Modified lease, single tenant.
    • 10.57% cap rate.
    • Located at 690‑696 River Street, Troy, NY 12180.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    36083
    State
    New York
    Longitude
    -73.6833708
    Latitude
    42.7456568

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    FAQs

    What type of property is this?
    Office Property / Space - High-yield office building in Troy, NY.
    Where is this office property / space 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: $2,000,000 asking price.; Office property in Troy, NY.; Modified lease, single tenant.
    Request Owner's contact information
    690-696 River St Troy, NY 12180
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    Troy, NY 12180
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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
    690-696 River St Troy, NY 12180
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