213 Tracy Creek Road | VESTAL
Originally built as a school, this durable cement-and-brick structure has served the State of New York since 1989. Over $3 million has been invested across three phases of renovations, resulting in a highly secure, institutional-grade facility. The lease is structured as modified net with 1% annual rent increases, the tenant pays increases in major expenses - ensuring stable, increasing and predictable cash flow. The property features 3-phase electric, upgraded HVAC systems (including high-efficiency Mitsubishi units), a 3-year-old ballasted roof with 3” insulation, firewalled rooms, and a 5,000 SF gymnasium with 19’ ceilings. It is now leased to DASNY under a brand-new 10-year agreement at $10.50/SF plus utilities, janitorial, and select reimbursements (modified net lease). DASNY, a state agency with 75+ years of experience, is a national leader in public construction and finance, specializing in health and education infrastructure. GBAR MLS #321816
Directions to property: Route 434 to Owego Rd to Tracy Creek.
