Tesla Service Center

Colonie
NY
New York
Albany

Call for Details

$

18,202,000

Call for Details
5.75
%
CAP Rate
FILE PHOTO

Brand New Construction

with Excellent Exposure & Visibility on Central Ave (43,405 ADT)

Annual Rent Increases

$129,947 Average Household Income

within a 3-Mile Radius

Property details
  1. New Long Term Lease with a Corporate Guaranty from Tesla, Inc. (NASDAQ: TSLA)
    • Annual Rent Increases Throughout Primary Term & Options Providing an Excellent Hedge Against Inflation
  2. Investment Grade Tenant, Rated Baa3 by Moody’s & Rated BBB by S&P
  3. Mission-Critical Location Serving the Greater Albany Metropolitan Area
    • Strong Regional Connectivity with Convenient Access to Interstates 87 (125,622 ADT) & 90 (87,330 ADT), which Provide Direct Routes to NYC & Boston, Respectively
  4. Exceptional Exposure with Ample Frontage Along Central Ave
    • Major Thoroughfare and Established Commercial Corridor Experiencing 43,405 Vehicles per Day
  5. Premier Capital Region Submarket
    • Albany CSA Population of Over 1.2 Million
    • One of the Most Affluent, Educated, and Fastest-Growing Metro Areas in New York
  6. Diverse Regional Economy with Growing “Tech Valley” Hub
    • Anchored in Government, Health Care, and Higher Education, with Expanding Sectors in AI, Nanotechnology, Semiconductor, Computer Hardware, & More
  7. Demographics Aligned with Tesla’sCustomer Base
    • Population of 523,503 within 10 Miles with High Concentration of Commuters
    • Average Household Income of $129,947 within a 3-Mile Radius
    • ~47% of Residents Age 25+ within 5 Miles Hold a Bachelor’s Degree or Higher
  8. ~5 Miles from University at Albany (17,500+ Students), One of the Four Major University Centers of the State University of New York
  9. ~7 Miles from Harriman State Office Building Campus, 3M SF Employment Center Spanning 330 Acres
  10. Qualifies for 100% Bonus Depreciation via Cost Segregation

In Association with Scott Reid & ParaSell, Inc. | P: 949.942.6578 | A Licensed New York Real Estate Broker #10991231395

Listing leads
Putnam Daily
Managing Partner
CA RE Lic #01750064
Lindsey Snider
Senior Partner
CA RE Lic #01443387
Scott Reid
ParaSell, Inc.
NY RE Lic #10991231395
Property Specs
Tenancy
Single Tenant
Multi Tenant
Building Size
29,998
SF
Lot Size
7.4
AC
Listing leads
Putnam Daily
Managing Partner
CA RE Lic #01750064
Lindsey Snider
Senior Partner
CA RE Lic #01443387
Scott Reid
ParaSell, Inc.
NY RE Lic #10991231395