For Sale Commercial Real Estate Listings in Utica, New York
FOR SALE * $5,500,000 * Industrial * Utica, New York * Full Listing Lease term: 2/2/2004 to 3/31/2024 with 1 ten year option to renew. Rents start at $339,700 for years 1-5 then increases to $373,670 (years 6-10), $411,037 (years 11-15) and $452,141 (years 16-20). Property has a ten-year property tax abatement through lease/leaseback and pilot agreement with the Utica Urban Renewal Agency. Lease is Net with Landlord responsible for repairs and replacements of exterior structure and interior structural supports. Tenant has termination rights on the 10th and 15th anniversaries with notice and penalties. Utica Converters, Inc is a subsidiary of Korean conglomerate Hyusong. Assumable financing at 6.72%/10 year term/30-year amortization. Original amount borrowed: $3,090,000. [ Loan Quote for this Property ] [ Find a Broker ] [ Advanced Search ]
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