Investment Overview

Marcus & Millichap, as Exclusive Agent for Seller, is pleased to present the opportunity to acquire 450 Duane Avenue, an approximately 97,000 square foot Office/Industrial/R&D/ Flex building. The Property is located at 450 Duane Avenue in the City of Schenectady, NY benefiting from over 400 feet of frontage on I-890, immediate access via Exit 6, and is less than three miles from the New York State Thruway. The Property is located on one tax parcel, consisting of 2.2 acres, and is currently served by all required utilities. On-site parking is provided and consists of approximately +/-100 surface spaces. Long occupied by the prior tenant who relocated to meet their expansion needs, the building is presently vacant, allowing a prospective Investor/User a multitude of opportunities for repositioning and retenanting the Property. Many of the major Building systems, Roofs and HVAC, have benefitted from recent replacements, minimizing Core & Shell capital needs in repurposing the Property. Like many markets throughout the US, the Albany Industrial/Flex market has witnessed incredible strength over the past several years with continued job growth, an increase in E-commerce needs, limited development and vibrant investor demand. The Property is listed at $6,000,000, or $62 per square foot (cell phone tower is not included). There will not be a formal Call for Offers process and offers will be responded to by the Seller and Agent as appropriate.