339 Broadway Menands, NY 12204
Property profile & analytics
Location Intelligence
Current Use by Public Records
- TF Andrew Carpet One Floor & Home / General Contractor / Renovation Specialist
- First Student Lansingburgh / School Bus Service
Property Details for 339 Broadway
- Year built
- 1969
- Lot size
- 6.70 lot acres
- Property size
- 54,704 SF
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional Menands, NY industrial property presents a compelling investment opportunity. Located at 339 Broadway, this single-story, 54,704-square-foot warehouse sits on a substantial 6.7-acre lot, offering ample space for parking, storage, and fleet operations. Built in 1969, the Class C building features a 20-foot ceiling height, one loading dock with one dock-high door, and is currently configured as a multi-tenant property with three tenants under a triple-net (NNN) lease. The current lease term is five years, commencing October 15, 2023, and expiring October 31, 2028, leaving approximately 3.9 years remaining. The asking price is $6,250,000, representing a compelling price per square foot of $114.25 and a strong 7.41% capitalization rate based on a net operating income (NOI) of $462,900. The property's zoning designation is 86, and its size and features make it ideal for distribution, manufacturing, or warehousing operations within the Albany, NY market. The ample lot size allows for over 47 parking spaces, further enhancing its operational efficiency. This is a rare opportunity to acquire a well-located, high-performing industrial asset with significant upside potential.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Menands
- County
- Albany
- State
- New York
- Longitude
- -73.7205
- Latitude
- 42.6943
