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Imperial Lanes 249 Wallins Corners Rd 24,961 SF Retail Building Amsterdam, NY 12010 $1,250,605 CAD ($50.10 CAD/SF) 6.70% Cap Rate
INVESTMENT HIGHLIGHTS
- Long history of solid financial performance
- Turnkey business
- High traffic location
- Prime redevelopment opportunity
EXECUTIVE SUMMARY
25,000 SQ.FT. COMMERCIAL BUILDING ON 1.90 ACRES DIRECTLY ADJACENT TO LOWES HOME IMPROVEMENT
Ideal location for range of business or take advantage of the B-1 business development zoning and build to your specifications on the 1.9 acre lot.
Currently, the existing building is home to a long established recreation center, Imperial Lanes, and "as is" offers a prime opportunity to own a commercial real estate/turnkey business combination. The purchase includes the building and accompanying land, all bowling equipment & accessories plus a fully equipped bar & restaurant with additional square footage currently used for live entertainment and events. Current lease is month to month and below market. The tenant is willing to sign a longer term lease.
The 25,000 sq. ft. building could also be converted for warehouse/distribution, light industrial, retail, car wash, etc.
Ideal location for range of business or take advantage of the B-1 business development zoning and build to your specifications on the 1.9 acre lot.
Currently, the existing building is home to a long established recreation center, Imperial Lanes, and "as is" offers a prime opportunity to own a commercial real estate/turnkey business combination. The purchase includes the building and accompanying land, all bowling equipment & accessories plus a fully equipped bar & restaurant with additional square footage currently used for live entertainment and events. Current lease is month to month and below market. The tenant is willing to sign a longer term lease.
The 25,000 sq. ft. building could also be converted for warehouse/distribution, light industrial, retail, car wash, etc.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$139,592
|
$5.59
|
| Other Income |
$34,898
|
$1.40
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$174,490
|
$6.99
|
| Taxes |
$48,857
|
$1.96
|
| Operating Expenses |
$13,959
|
$0.56
|
| Total Expenses |
$62,816
|
$2.52
|
| Net Operating Income |
$111,674
|
$4.47
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $139,592 |
| Annual Per SF | $5.59 |
| Other Income (CAD) | |
|---|---|
| Annual | $34,898 |
| Annual Per SF | $1.40 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $174,490 |
| Annual Per SF | $6.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $48,857 |
| Annual Per SF | $1.96 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $13,959 |
| Annual Per SF | $0.56 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $62,816 |
| Annual Per SF | $2.52 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $111,674 |
| Annual Per SF | $4.47 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
24,961 SF
Building Class
B
Year Built
1949
Price
$1,250,605 CAD
Price Per SF
$50.10 CAD
Cap Rate
6.70%
NOI
$83,755 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.30
Lot Size
1.90 AC
Zoning
B-1 - Business development zone
Parking
80 Spaces (3.2 Spaces per 1,000 SF Leased)
Frontage
175’ on Wallins Corners Rd
AMENITIES
- Pylon Sign
- Restaurant
- Signage
- Air Conditioning
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Kelly's Imperial Lanes
- Arts, Entertainment, and Recreation
- -
- -
- -
Kelly's Imperial Lanes is a privately held company in Amsterdam, NY
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Kelly's Imperial Lanes | Arts, Entertainment, and Recreation | - | - | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 272089-024-016-0001-012-002-0000 | Total Assessment | $63,432 CAD (2024) |
| Land Assessment | $15,237 CAD (2024) | Annual Taxes | $48,857 CAD ($1.96 CAD/SF) |
| Improvements Assessment | $48,194 CAD (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
272089-024-016-0001-012-002-0000
Land Assessment
$15,237 CAD (2024)
Improvements Assessment
$48,194 CAD (2024)
Total Assessment
$63,432 CAD (2024)
Annual Taxes
$48,857 CAD ($1.96 CAD/SF)
Tax Year
2025
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Imperial Lanes | 249 Wallins Corners Rd
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