38 Corporate Cir Rear Albany, NY 12203-5121

Property Details for 38 Corporate Cir Rear

Lot size

0.25 lot acres

Zone code

CM

Property type

Industrial land

APN

010100 41.00-2-62

APU

101004100262

Description

This exceptional investment opportunity presents a well-maintained, single-tenant warehouse located at 38 Corporate Circle, Albany, NY 12203. The property boasts 181,300 square feet of space, ideal for distribution or warehousing operations. Built in 1984 and situated on a 13.3-acre lot, the warehouse features a 30-foot clear ceiling height, 12 loading docks, and ample parking for 480 vehicles. The property is zoned for light industrial use and benefits from its proximity to Interstate 90, approximately 4 miles away. Currently under a single-tenant, absolute net lease with a remaining term of over 13 years, expiring June 29, 2037, this lease includes annual escalations. The property's strong financial performance is reflected in its Net Operating Income (NOI) of $1,723,087. Assumable financing is available, making this an attractive investment opportunity for buyers seeking a stable, long-term income stream. The property can be sold with the adjacent 42 Corporate Circle. This is a rare chance to acquire a high-quality industrial asset in a desirable location with significant remaining lease term and strong financial performance.