7 Halsey Ct Plattsburgh, NY 12901

Property Details for 7 Halsey Ct

Year built

1958

Lot size

1.80 lot acres

Property size

7,600 SF

Zone code

NC

Property type

Showrooms

APN

094200 207.10-1-23

APU

9420020710123

Description

This fee-simple industrial property in Plattsburgh, NY, offers a compelling investment opportunity. The 16,310-square-foot building, constructed in 1958 and situated on a 2.5-acre lot, is currently 100% occupied by a single tenant: United Rentals, a leading equipment rental company with a BB+ credit rating. The property features three buildings and ample parking (30 spaces). The lease is a Net Lease (NN) structure, with the tenant responsible for taxes, insurance, maintenance (interior and non-structural), utilities, and minor parking lot repairs. The current lease has 2.5 years remaining, followed by two 5-year lease options with Fair Market Value (FMV) rent increases. Recent capital improvements exceeding $160,000 have been completed, including bathroom and conference room renovations, new flooring, fencing, drainage improvements, and a recently replaced roof (approximately 5 years old). The property boasts excellent access and visibility due to its frontage on Tom Miller Road and easy access to I-87. The asking price is $789,000, representing a 9.04% cap rate and a price per square foot of $48.38. The property is zoned for industrial use and presents a strong hedge against inflation given the FMV rent increases. This is a rare opportunity to acquire a well-maintained, strategically located industrial property with a high-credit tenant and a favorable lease structure.

Location Insight

City

Plattsburgh

County

Clinton

State

New York

Longitude

-73.4699

Latitude

44.7081

CBSA code

38460

CBSA name

PLATTSBURGH, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments