213 Tracy Creek Rd Vestal, NY 13850
- Commercial land
- 0.30 lot acres
Current Use by Public Records
- Parent to Parent of NYS Inc / Non-Profit Organization
Property Details for 213 Tracy Creek Rd
- Lot size
- 0.30 lot acres
- Zone code
- C-2
- Property type
- Commercial land
- APN
- 034800 172.71-2-22
- APU
- 3480017271222
Description
This Vestal, NY office building presents a unique investment opportunity. A new 10-year lease with the New York State agency DASNY is in place, at a rate of $10.50 per square foot, plus utilities, janitorial, and certain expenses. The tenant, a New York State agency, has occupied the premises since 1989, demonstrating a long-term commitment to the location. Over $3,000,000 has been invested in renovations to customize the space, ensuring a modern and functional environment. The building itself is a robust cement and brick structure, built to high standards and described as durable enough to function as a fallout shelter. Key features include 3-phase electric service, updated furnaces, energy-efficient Mitsubishi HVAC units, and a recently replaced (3-year-old) ballasted roof. Firewalled rooms enhance safety and security. A significant amenity is the inclusion of a 5,000 square foot gymnasium with a generous 19-foot ceiling clearance. The property enjoys a secluded yet convenient location in Vestal, near Apalachin, adjacent to a park with soccer fields, and just two blocks from NY State Route 434, providing easy access to major highways. The lease is structured as a modified net lease, with the tenant responsible for expense increases above the base year. This represents a compelling investment opportunity, featuring a strong, long-term tenant and a beautifully redeveloped property.
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
- Vestal
- County
- Broome
- State
- New York
- Longitude
- -76.0999
- Latitude
- 42.0664
- CBSA code
- 13780
- CBSA name
- BINGHAMTON, NY METROPOLITAN STATISTICAL AREA
