Troy, NY Brian Ahrens, Bob Horvath and Todd Tremblay of Horvath & Tremblay have completed the sale of a Napa Auto Parts and OTB (Off-Track Betting). Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1.1 million.
The property is located at 369 Second Ave. The two-tenant plaza is improved with Napa Auto Parts and an OTB and contains 10,455 s/f on a 0.89-acre parcel. Napa’s building was constructed for them in 2012 and they have two years remaining on their lease with one, five-year renewal option. The OTB has been at this location since 2011 and is on a month-to-month lease. Napa’s lease calls for a 8% rent increase at the start of their renewal option. The property is positioned along the banks of the Hudson River at the intersection of 109th St. and Second Ave. (U.S. Rte. 4) one of the area’s primary commercial and commuter corridors. The property benefits from visibility and frontage along Second Ave. (U.S. Rte. 4) and is two-miles from Hoosick St. (U.S. Rte. 7), and three-miles from I-787. Additionally, the property is 2.8-miles from Rensselaer Polytechnic Institute, (6,900 students), and several other area schools. The property is surrounded by populated residential neighborhoods providing a built-in customer base.
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