1666 Route 9W Milton, NY 12547
- Refrigerated & Cold Storages
- 67,500 SF
- 4.94 lot acres
Current Use by Public Records
- Karr Cold Storage / Logistics Service / Cold Storage Facility
Property Details for 1666 Route 9W
- Year built
- 2023
- Lot size
- 4.94 lot acres
- Property size
- 67,500 SF
- Property type
- Refrigerated & Cold Storages
- Property subtype
- Industrial properties
Description
This exceptional investment opportunity presents a Class B industrial property in Milton, NY, encompassing 67,500 square feet of net rentable space across two buildings. Built in 2023, the property features a mix of refrigerated, freezer, and dry storage, totaling 49,000 square feet of freezer space, 3,500 square feet of cooler space (35-40°F), and 15,000 square feet of dry storage. One building is a brand-new 40,000 square foot fully frozen facility, while the second building offers a combination of freezer, cooler, and dry storage space. The property boasts 10 dock-high doors and 2 loading docks, with ceiling heights ranging from 24' to 35'. Situated on a 4.94-acre lot (APN: 3600-103.003-0003-068.000-0000), this strategically located property offers easy access to the NYS Thruway and I-84, making it ideal for distribution and 3PL operations serving the New England market. The property is currently under a 20-year Absolute NNN lease with a corporate guarantee, featuring four, five-year lease options and 3% annual rent increases. The asking price is $15,306,206, with a strong 7.25% cap rate and a net operating income (NOI) of $1,109,700. The zoning is RAG1. This is a passive investment opportunity with a long-term, secure lease.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Milton
- County
- Ulster
- State
- New York
- Longitude
- -73.9625
- Latitude
- 41.6396
