Office Medical
St. Peter's Multi-Tenant Medical Office
2546 Balltown Rd, Niskayuna, NY 12309
Listing Price: $5,500,000
Investment Overview
Marcus & Millichap is pleased to present this multi-tenant medical office located at 2546 Balltown Road, Schenectady, New York. The building was constructed in 1990 and is comprised of 27,700 square feet situated on 2.03 acres of land.
This property is anchored by St. Peters Health Partners (Cardiology Associates of Schenectady), which occupies 46.9% of the GLA in suites 202, 203, and 300 under a triple-net lease structure. St. Peters Health Partners is currently paying below-market rent, presenting upside potential. The tenant roster also includes Community Care Physicians, occupying 100 and 200 suites and representing 46.4% of the GLA. They operate under a triple-net lease with 2% annual rental increases and one 5-year renewal option. Additionally, Susan A. Kessler, MD (Ophthalmology) occupies suites 101, 102, and 103 under a gross lease with one 5-year renewal option and scheduled rental increases in years 6, 8, and 10. Recent lease renewals across the tenants underscore their long-term commitment to the site.
Strategically located on Balltown Road, a major 10-mile thoroughfare in New York’s Capital Region connecting Schenectady and Niskayuna, the property benefits from high visibility and strong accessibility. It is positioned at the signalized, hard-corner intersection of River Road and Balltown Road, which sees approximately 16,908 vehicles per day, and features two full-access points off Balltown Road and Zenner Road. The surrounding area supports a robust trade area, with over 140,597 residents and approximately 57,000 employees within a five-mile radius, and an average household income of $107,557. The property is situated among other medical offices and in close proximity to Ellis Hospital, a 438-bed community and teaching hospital that is part of the Ellis Medicine system, serving the Capital Region.
St. Peter's Multi-Tenant Medical Office
Investment Highlights
- Strategically Located on Balltown Road, a Major 10-Mile Thoroughfare in New York's Capital Region Connecting Schenectady and Niskayuna. Schenectady is 20 Minutes Outside of Downtown Albany, New York
- St. Peter's Health Cardiology Associates (in 47% RBA) has No Renewal Options. Future LL has the Ability to Raise the Rent from a Low Basis of $12.87 per Square Foot Triple-Net to market in 2029
- Strong Guarantees - St. Peters Health is Considered the Top Five Major Employers for Schenectady with over 1,800 employees under Trinity Health System. Community Care Physicians has 70+ locations
- Community Care Physicians/St. Peters Health has Strong Historical Occupancy Dating Back to 2010/2011, Utilizing 93.2% of Subject Property
- On Site MRI Machines, X-Ray Machines and Equipment, and CT Scanners
Listing Price: $5,500,000
Investment Highlights
- Strategically Located on Balltown Road, a Major 10-Mile Thoroughfare in New York's Capital Region Connecting Schenectady and Niskayuna. Schenectady is 20 Minutes Outside of Downtown Albany, New York
- St. Peter's Health Cardiology Associates (in 47% RBA) has No Renewal Options. Future LL has the Ability to Raise the Rent from a Low Basis of $12.87 per Square Foot Triple-Net to market in 2029
- Strong Guarantees - St. Peters Health is Considered the Top Five Major Employers for Schenectady with over 1,800 employees under Trinity Health System. Community Care Physicians has 70+ locations
- Community Care Physicians/St. Peters Health has Strong Historical Occupancy Dating Back to 2010/2011, Utilizing 93.2% of Subject Property
- On Site MRI Machines, X-Ray Machines and Equipment, and CT Scanners
Investment Overview
Marcus & Millichap is pleased to present this multi-tenant medical office located at 2546 Balltown Road, Schenectady, New York. The building was constructed in 1990 and is comprised of 27,700 square feet situated on 2.03 acres of land. This property is anchored by St. Peters Health Partners (Cardiology Associates of Schenectady), which occupies 46.9% of the GLA in suites 202, 203, and 300 under a triple-net lease structure. St. Peters Health Partners is currently paying below-market rent, presenting upside potential. The tenant roster also includes Community Care Physicians, occupying 100 and 200 suites and representing 46.4% of the GLA. They operate under a triple-net lease with 2% annual rental increases and one 5-year renewal option. Additionally, Susan A. Kessler, MD (Ophthalmology) occupies suites 101, 102, and 103 under a gross lease with one 5-year renewal option and scheduled rental increases in years 6, 8, and 10. Recent lease renewals across the tenants underscore their long-term commitment to the site. Strategically located on Balltown Road, a major 10-mile thoroughfare in New York’s Capital Region connecting Schenectady and Niskayuna, the property benefits from high visibility and strong accessibility. It is positioned at the signalized, hard-corner intersection of River Road and Balltown Road, which sees approximately 16,908 vehicles per day, and features two full-access points off Balltown Road and Zenner Road. The surrounding area supports a robust trade area, with over 140,597 residents and approximately 57,000 employees within a five-mile radius, and an average household income of $107,557. The property is situated among other medical offices and in close proximity to Ellis Hospital, a 438-bed community and teaching hospital that is part of the Ellis Medicine system, serving the Capital Region.
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