456 Albany Ave Kingston, NY 12401-2139
- Specialty properties
- 5,163 SF
- 0.54 lot acres
Current Use by Public Records
- Bixby Peter DVM / Veterinarian
- Kingston Animal Hospital / Veterinarian / Animal Hospital
- Dr. Beth Alden / Veterinarian
- Dr. Arnold Rugg / Veterinarian
Property Details for 456 Albany Ave
- Year built
- 1930
- Lot size
- 0.54 lot acres
- Property size
- 5,163 SF
- Zone code
- C-3
- Property type
- Specialty properties
- APN
- 510800 48.74-1-47
- APU
- 5108004874147
Description
This Kingston, NY, fee-simple property offers a compelling investment opportunity in a thriving medical office sector. The portfolio consists of three buildings totaling 8,926 net rentable square feet, currently 100% occupied by Veterinary Innovative Partners under a 10-year absolute NNN lease (expiring 06/29/2031) with a corporate guarantee. The lease features a remaining term of approximately 6.6 years and includes a 5-year option with 2% annual rent bumps. Built in 1930, the property sits on a 1.09-acre lot and boasts a strong NOI of $185,946, resulting in a 9.50% cap rate and a price per square foot of $219.28. The asking price is $1,957,326. The investment is further strengthened by the consistent growth and recession-resistant nature of the veterinary services market, projected to experience significant expansion in the coming years. This portfolio presents a rare opportunity to acquire a stable, high-yielding asset with significant long-term potential in a prime location. The property's strong tenant, Veterinary Innovative Partners, provides additional security and confidence in the investment.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $345,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $460,000
- 6.5%
- $460,000
- 7%
- $425,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $495,000
- Geo Method
- $470,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $455,000
- Retail
- $530,000
- Mixed-Use
- $420,000
- Hospitality
- $510,000
- Educational
- $510,000
- Residential Income
- $455,000
- Energy
- $500,000
- Income-Based Land
- $420,000
- Food Service
- $485,000
Location Insight
- Map
- Local Demand
- City
- Kingston
- County
- Ulster
- State
- New York
- Longitude
- -73.9994
- Latitude
- 41.9409
- CBSA code
- 28740
- CBSA name
- KINGSTON, NY METROPOLITAN STATISTICAL AREA
