690-696 River St Troy, NY 12180
- Office Properties & Spaces
Current Use by Public Records
- Office Properties & Spaces
Property Details for 690-696 River St
- Property type
- Office Properties & Spaces
Description
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.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Troy
- County
- 36083
- State
- New York
- Longitude
- -73.6834
- Latitude
- 42.7457
