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Listed by Kyle J Bradley • Carrow Real Estate Services LLC

$3,890,000

Est. payment - /mo

49,965 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

Square Footage 49,965 sqft

Price per Sqft $77

MLS Listing ID 202628189

Year Built 1840

Annual Tax Amount $79,408

Lot Size 0.310 Acres

Acres 0.31

Lot Dimensions 162' x 122'

Property Sub-Type Mixed Use

Source Global MLS

Property Description

Rare opportunity to acquire The Market Block, an iconic +/-49,965 SF, three-story mixed-use landmark in the heart of historic Downtown Troy. Offered at $3,890,000 ($77.85 PSF) with a 6.0% capitalization rate on in-place income. This 100% occupied retail/office property features a diverse tenant mix including Warner Bros., Velan Studios, Stacks Espresso and other established businesses. Flexible lease terms offer significant owner-user potential, while below-market rents provide investors with upside opportunity. Prominent corner location steps from Monument Square, River Street and the Hudson River waterfront. Excellent walkability, strong pedestrian activity, nearby public parking and convenient access to I-787, RPI and Russell Sage College. Downtown Mixed Use (DMU) zoning.

Location

State NY

County Rensselaer

Zoning Commercial

Direction I-787, take Exit 9E toward Downtown Troy/Route 7 East. Cross the Collar City Bridge and continue toward Downtown Troy. Turn right onto 3rd Street. Property is located at 1-13 Third Street, at the corner of Third Street and Broadway, in the heart of Downtown Troy.

Interior

Heating Forced Air, Natural Gas

Inclusions Building & Land

Exterior

Roof Type Rubber

Building

Sewer Public Sewer

Water Public

New Construction No

Schools

School District Troy

Others

Tax ID 381700 101.45-9-1

Special Listing Condition Standard

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Nearby Locations

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Sterling Real Estate Group

+1(518) 688-2211

1 3rd Street Troy, NY 12180