5354 Ny-12 Norwich, NY 13815
- Specialty properties
- 4,215 SF
- 1.06 lot acres
Current Use by Public Records
- Isalis / Gift Shop / Boutique
- Party City / Party Store / Balloon Store
- Skunk Funk / Clothing Store / Corporate Campus
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / Outdoor Clothing And Equipment Shop
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
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.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Norwich
- County
- Chenango
- State
- New York
- Longitude
- -75.5311
- Latitude
- 42.4942
