Description:

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.

Located in a quiet Vestal setting near Apalachin, adjacent to a town park and just two blocks from NYS Route 434, this property offers both long-term stability and strategic accessibility.

 


Ideally situated at 213 Tracy Creek Road in Vestal, NY, this property offers a peaceful, private setting just minutes from major thoroughfares. Located beside a Town of Vestal park with soccer fields, it combines a tranquil atmosphere with unmatched accessibility—only two blocks from NYS Route 434 and a short drive to the I-86 interchange.


Brand-New 10-Year Lease with DASNY at $10.50/SF plus utilities and expense reimbursements
Over $3M in Renovations – Customized across three phases to meet institutional needs
Solid Construction – Cement-and-brick build with firewalled rooms and 3-phase electric
5,000 SF Gymnasium – With 19’ ceiling clearance and flexible use potential
Excellent Location – Adjacent to a town park and 2 blocks from NYS Route 434 with easy highway access  

 

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