Market 32
65,000 SF | Retail Building | Albany, NY 12206 | $25,700,000 ($395/SF) | 6.35% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $25,700,000
- Property Type
-
Retail
- Square Feet
- 65,000 SF
- Price / Square Foot
- $395
Listing Contacts
James Koury
Verified Profile
Brad Nathanson
Verified Profile
Alex Quinn
Verified Profile
- Property Info
Property Overview
The site has had a long and successful history as a Wakefern ShopRite. Price Chopper recently acquired the site from Wakefern and is spending $1.5mm to convert the ShopRite to their upscale Market 32 concept. Grand opening is June 14th.
Property Details
- Class
- B
- Year Built
- 2012
- Stories
- 1
- Lot Size (sq. ft)
- 240,887 SF
Highlights
- New 5 Yr LifeCo Interest Only Debt Available at 67% LV, 6.08% Interest Rate
- Price Chopper has the dominant market share in the Upstate New York CBSA, and is headquartered just 16.6 miles away in Schenectady, New York
- New, Fully NNN 15 year lease term through 2038
- Lease is secrely backstopped by Golub Corp. and Wakefern Food Corp., a $20 Billion company
- Dense population of 123,000 people within 3 miles
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