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1875 Altamont Ave 2,985 SF 100% Leased Office Building Schenectady, NY 12303 $2,757,880 CAD ($923.91 CAD/SF) 4.75% Cap Rate
Investment Highlights
- No landlord responsibilities—Tenant pays utilities, taxes, and maintains all aspects of the premises
- Building is on a corner lot next to a signalized intersection
- Located along Altamont Ave, a main commercial corridor in the Albany, NY MSA
Executive Summary
New construction ground leased Chase Bank investment property. Chase Bank signed a lease with a fifteen year initial term and three additional 5-year options, showing their commitment to this site and market. Tenant pays utilities, taxes, and maintains all aspects of the premises—No landlord responsibilities, perfect for a passive investor.
The Chase Bank investment property is located in Rotterdam, NY, a suburb of the Albany, NY MSA. Other tenants in the trade area include Market 32, Hannaford, Walmart, Crunch Fitness, Citi Trends, Advance Auto Parts, AutoZone, Moe’s Southwest Grill, Dollar Tree, Wendy’s, McDonald’s, Dunkin’, and Planet Fitness.
The Albany region is a vital economic hub with a total labor force of approximately 554,900 and a low unemployment rate of just 3.3%. Its economy is both diverse and resilient, anchored by government, healthcare, education, technology, and advanced manufacturing. The area is also a major logistics center, hosting fulfillment and distribution facilities for companies such as AceHardware, Coca-Cola, FedEx, UPS, and Target, which together employ more than 14,000 workers and strengthen the region’s position in transportation, trade, and utilities.
As the capital of New York State, Albany supports tens of thousands of public-sector jobs across state agencies and legislative offices. Healthcare and life sciences further drive regional growth, led by top employers including Albany Medical Center, St. Peter’s Health Partners, and Ellis Medicine.
The Chase Bank investment property is located in Rotterdam, NY, a suburb of the Albany, NY MSA. Other tenants in the trade area include Market 32, Hannaford, Walmart, Crunch Fitness, Citi Trends, Advance Auto Parts, AutoZone, Moe’s Southwest Grill, Dollar Tree, Wendy’s, McDonald’s, Dunkin’, and Planet Fitness.
The Albany region is a vital economic hub with a total labor force of approximately 554,900 and a low unemployment rate of just 3.3%. Its economy is both diverse and resilient, anchored by government, healthcare, education, technology, and advanced manufacturing. The area is also a major logistics center, hosting fulfillment and distribution facilities for companies such as AceHardware, Coca-Cola, FedEx, UPS, and Target, which together employ more than 14,000 workers and strengthen the region’s position in transportation, trade, and utilities.
As the capital of New York State, Albany supports tens of thousands of public-sector jobs across state agencies and legislative offices. Healthcare and life sciences further drive regional growth, led by top employers including Albany Medical Center, St. Peter’s Health Partners, and Ellis Medicine.
Data Room Click Here to Access
- Offering Memorandum
Property Facts Under Contract
Sale Type
Investment NNN
Property Type
Building Size
2,985 SF
Building Class
C
Year Built
1950
Price
$2,757,880 CAD
Price Per SF
$923.91 CAD
Cap Rate
4.75%
NOI
$130,999 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
2,985 SF
Building FAR
0.12
Lot Size
0.55 AC
Zoning
B-2
Parking
18 Spaces (6.03 Spaces per 1,000 SF Leased)
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Finance and Insurance
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
JPMorganChase traces its roots to a bank founded in 1799 and later grew through major mergers involving Chase Manhattan Bank and J.P. Morgan & Co. The company now operates across consumer and community banking, commercial banking, corporate and investment banking, and asset and wealth management. Chase serves millions of customers, small businesses, and institutional clients, with a broad presence in the United States and in global markets.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Finance and Insurance | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
50/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 059-009-0002-026-001-0000 | Improvements Assessment | $553,975 CAD |
| Land Assessment | $144,728 CAD | Total Assessment | $698,704 CAD |
Property Taxes
Parcel Number
059-009-0002-026-001-0000
Land Assessment
$144,728 CAD
Improvements Assessment
$553,975 CAD
Total Assessment
$698,704 CAD
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1875 Altamont Ave
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