55 ELK STREET
STATE OF NY AND VA OFFICE
Albany, NY
PRICE $7,500,000
GLA 51,060 SF
PROPERTY TYPE Office Building
CAP RATE 9.9%
OCCUPANCY 100%
YEAR BUILT 1975
Albany, NY
PRICE $7,500,000
GLA 51,060 SF
PROPERTY TYPE Office Building
CAP RATE 9.9%
OCCUPANCY 100%
YEAR BUILT 1975
DEMOGRAPHICS
Population 96,460
Per Capita Inc $28,402
Median HH Inc $45,500
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INVESTMENT HIGHLIGHTS
- Located in the heart of New York’ s Capital next to the State Capitol Complex within easy walking distance of the State Capitol, The Empire State Plaza, City Hall and state and local courthouses
- The Property offers a unique combination of first class office space and maximum convenience
- Recently renovated three story building with 15,805 square foot floor plates allow for efficient design and flexibility for custom office layouts
- 100% occupied by Gov’t Tenants
- 67% leased to State of NY and 33% Lease to VA Office
- VA Clinic signed a new 10-year 5-year firm lease to take occupancy in May of 2020
- The State of New York (Legislative Bill Drafting Commission) has taken occupancy in this building for over 25 years
- Over $2.5M in renovations are underway between the VA Clinic improvements and landlord improvements
- All rooftop chillers were replaced in 2018
- Parking has been a profit center for this location
| Price: | $7,500,000 |
| City: | Albany |
| State: | NY |
| Square Feet: | 51,060 SF |
| Price: | $7,500,000 |
| Cap Rate: | 9.9% |