15-49 4Th St Troy, NY 12180
- Lifestyle centers
- 163,000 SF
Current Use by Public Records
- Lifestyle centers
Property Details for 15-49 4Th St
- Property size
- 163,000 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional 3.43-acre portfolio in downtown Troy, NY presents a significant redevelopment opportunity. The property comprises three tax lots totaling nearly two city blocks along the Hudson River, encompassing three existing structures and a cleared, re-zoned 1.66-acre vacant lot. The Frear building, a circa-1900 structure, offers approximately 50,000 square feet of mostly leased retail and office space. Two additional buildings, 356 Fulton Street (40,000 square feet vacant office) and The Atrium (73,000 square feet vacant retail/office), provide further development potential. The vacant land is permitted for up to 7 stories and 85% impervious lot coverage, allowing for approximately 600,000 square feet of new construction. The entire portfolio is listed on the National Register of Historic Places and sits within the city's "Resilient Waterfront" and "Historic District" overlays. The existing structures are interconnected, sharing some utilities. The asking price is $10,250,000, representing a price per square foot of $62.88 based on a net rentable area of 113,000 square feet. The current occupancy rate is 25%. This unique offering presents a rare chance to reshape a significant portion of Troy's vibrant downtown. Detailed information and offering memoranda are available upon request.
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
- Troy
- County
- Rensselaer
- State
- New York
- Longitude
- -73.6892
- Latitude
- 42.7332
