5354 Ny-12 Norwich, NY 13815

Property Details for 5354 Ny-12

Lot size

1.06 lot acres

Property size

4,215 SF

Property type

Specialty properties

Property subtype

Retail properties & Spaces

Description

This exceptional investment opportunity presents a 4,215 square foot office building in Norwich, NY, currently leased to the New York State Police under a GSA-guaranteed lease (AA+ credit rating). The lease, expiring November 29, 2026, features a 100% occupancy rate and a strong Net Operating Income (NOI) of $45,220, yielding an 8% cap rate. The property boasts a desirable location on over 1 acre of land, situated near major retail anchors including Walmart, Tractor Supply Co., Lowe's, and Taco Bell, ensuring high visibility and traffic. The tenant, with a nearly 40-year operating history at this site, benefits from annual rent increases of 3%, providing a hedge against inflation and consistent NOI growth. The building offers ample parking (approximately 20 spaces) and is conveniently located within 3 miles of downtown Norwich, UHS Chenango Memorial Hospital (138 beds), and Norwich School District (serving 1,700+ students). Lease options include 2 and 5-year extensions. The asking price is $532,188, with a price per square foot of $126.26. This is a rare opportunity to acquire a stable, high-performing asset with a government-backed lease and significant upside potential. The property is classified as Retail, Office, and Special Purpose, with a Modified lease type and single tenancy.

Location Insight

City

Norwich

County

Chenango

State

New York

Longitude

-75.5311

Latitude

42.4942