Office
NY State Credit (AA+ S&P) Single Tenant Government Office Leasehold
563 Reed St, New Windsor, NY 12553
Listing Price: $7,037,640
Cap Rate
7.50%
Gross SF
25,272
Rentable SF
25,272
Price/Gross SF
$278.48
Lot Size
1.20 acres
Year Built
1942
Investment Overview
Marcus & Millichap is pleased to bring to market the New York State Department of Corrections and Community Supervision building located in New Windsor, New York.
NY State Credit (AA+ S&P) Single Tenant Government Office Leasehold
Investment Highlights
- New York State Government Leasehold Interest with Over Seven Years Remaining on the Leasehold and Over 75 Years Remaining On the Ground Lease with The Town of New Windsor
- Recent Renovations Include a New Roof, Furnaces, Fire Alarm Systems and an Interior Renovation Completed in 2021
- Property is Fully Occupied by New York State Department of Corrections and Community Supervision as a Corporate Housing Facility
- Three-Story Dormitory Building Features Masonry Construction with a Large Rear Parking Lot
- Situated Adjacent to New York Stewart International Airport, a Regional Airport Operated by the New York, New Jersey Port Authority Connecting to Newark, JFK and La Guardia International Airports
- Located in a Dense Office, Industrial and Logistics Corridor with Easy Access to the I-84/I-87 Interchange
- Strong Demographics: Population Exceeds 200,000 Within 10-Miles and is Projected to Increase by 2027 | Average Household Income Exceeds $103,000 Within Five-Miles
- New Windsor is One Hour From New York City and 90 Minutes from Albany, New York
Exclusively Listed By
Broker of Record
Financing By
Office
NY State Credit (AA+ S&P) Single Tenant Government Office Leasehold
Listing Price: $7,037,640
Cap Rate
7.50%
Gross SF
25,272
Rentable SF
25,272
Price/Gross SF
$278.48
Lot Size
1.20 acres
Year Built
1942
Investment Highlights
- New York State Government Leasehold Interest with Over Seven Years Remaining on the Leasehold and Over 75 Years Remaining On the Ground Lease with The Town of New Windsor
- Recent Renovations Include a New Roof, Furnaces, Fire Alarm Systems and an Interior Renovation Completed in 2021
- Property is Fully Occupied by New York State Department of Corrections and Community Supervision as a Corporate Housing Facility
- Three-Story Dormitory Building Features Masonry Construction with a Large Rear Parking Lot
- Situated Adjacent to New York Stewart International Airport, a Regional Airport Operated by the New York, New Jersey Port Authority Connecting to Newark, JFK and La Guardia International Airports
- Located in a Dense Office, Industrial and Logistics Corridor with Easy Access to the I-84/I-87 Interchange
- Strong Demographics: Population Exceeds 200,000 Within 10-Miles and is Projected to Increase by 2027 | Average Household Income Exceeds $103,000 Within Five-Miles
- New Windsor is One Hour From New York City and 90 Minutes from Albany, New York
Investment Overview
Marcus & Millichap is pleased to bring to market the New York State Department of Corrections and Community Supervision building located in New Windsor, New York.
Exclusively Listed By
Broker of Record
Financing By
