Description
RARE opportunity to own a 100% occupied and cash-flowing retail strip mall in a prime location. Situated in the heart of Central Square, NY this center is located at a high traffic point giving lots of visibility. Well established tenants with thriving businesses throughout the entire property serving as a great retail mix. 9 total diverse tenants. 9 storefronts with 1 two bedroom apartment on the second level. Major capex invested by the current owner in the last several years. Strong basis at only $90/sf. Room to grow rents to market rate of about $16/sf and bill back CAM's. NOI currently sits at $70,842 valuing this property at a 8.86% cap rate. Each tenant has a meter for gas/electric and pays their own utilities. Landlord pays water/sewer and one house meter on each building for exterior lighting. Water/sewer/taxes/insurance/exterior maintenance can be billed back to tenants allowing for a NN or NNN opportunity. This plaza consists of two buildings and two separate tax parcels.
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0BEDS
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0.31ACRES
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0BATHS
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01/2 BATHS
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10,602SQFT
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$75$/SQFT
Description
RARE opportunity to own a 100% occupied and cash-flowing retail strip mall in a prime location. Situated in the heart of Central Square, NY this center is located at a high traffic point giving lots of visibility. Well established tenants with thriving businesses throughout the entire property serving as a great retail mix. 9 total diverse tenants. 9 storefronts with 1 two bedroom apartment on the second level. Major capex invested by the current owner in the last several years. Strong basis at only $90/sf. Room to grow rents to market rate of about $16/sf and bill back CAM's. NOI currently sits at $70,842 valuing this property at a 8.86% cap rate. Each tenant has a meter for gas/electric and pays their own utilities. Landlord pays water/sewer and one house meter on each building for exterior lighting. Water/sewer/taxes/insurance/exterior maintenance can be billed back to tenants allowing for a NN or NNN opportunity. This plaza consists of two buildings and two separate tax parcels.
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Listing information © 2025 CNYIS, GENRIS, WNYREIS. Listing provided by Dante Belmonte of Hunt Real Estate ERA : .