Current Use by Public Records
- Isalis / (Bike/Boat/Book/etc) Store
- Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
- Skunk Funk / Big Box & Wholesale Store
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store
Property Details for 502 Columbia Pike
- Year built
- 1970
- Lot size
- 2.00 lot acres
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a fully leased, multi-tenant retail center in New Lebanon, NY. The property, located at 502 Columbia Pike, comprises two single-story buildings totaling 14,488 square feet on a 2-acre lot. Built in 1970 and extensively renovated in 2019, the Class B property boasts 67 parking spaces and features a diverse tenant mix including a bank, USPS, Family Dollar, and others. Seven long-term tenants ensure stable income with a current Net Operating Income (NOI) of $202,306 and a 7.50% cap rate. The property enjoys 100% occupancy with a remaining lease term of 5 years. The asking price is $2,700,000, and seller financing may be available to qualified buyers with a suitable down payment. The property's strong cash flow, diverse tenancy, and prime location make it an attractive investment prospect. All offers must include proof of funds. The property features approximately 247 feet of road frontage. The legal description is APN 104800-019-002-0001-048-000-000, and the property is offered fee simple. Cash offers and third-party financing offers are accepted.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- New Lebanon
- County
- Columbia
- State
- New York
- Longitude
- -73.3909
- Latitude
- 42.4679
