143 Longview Drive
Chatham, New York
Located in the Capital
Region of New York State and only 15 minutes from downtown Albany and Troy,
this prime commercial development site is ideal for 1031 Tax Exchange, future
shopping center, destination hotel-motel, retail center, office complex, medical
facilities, indoor waterpark, trucking uses, distribution center, warehouse facilities,
outlet mall, and almost any other commercial use.
THE PROPERTY OFFER
100+/- Acres on westside of U.S. Route
9 - $3,175,000.
under $32,000. per Acre
(Includes Discount for purchasing the combined parcels below)
63+/- Acres on Route
9 (Westside) - $2,800,000.
under $45,000 per Acre
33+/- Acres on Route
9 (Eastside) - $1,500,000.
under $50,000. per Acre
MORE LAND IS AVAILABLE!
These development parcels are part of a
300+/- acre Planned Development area
that has been designated as such because of its prominent location on Route 9,
in the town of Schodack just north of the Columbia County - Rensselaer County
border. As new commercial development has moved out from the state capital in
Albany and traffic has increased along the Albany to Boston corridor, the
property has become even more important because of its close proximity to the
last underdeveloped interstate exit ramp on I-90 in the Capital District area of
New York State. With only a small handful of rsidential properties in the same general area,
community opposition would be minimal.
The traffic to the site
and the development potential of the land increased dramatically when the New
York State Thruway built an entrance/exit ramp (Exit B-1) onto Route 9, located
about a mile from the property. Another highly traveled entrance/exit ramp (Exit 12)
from Interstate I-90 is located even closer to the property. The site is also the "key" to
providing access to some of the adjoining commercial properties in the area and the Buyers
may be able to recoup some of the purchase price by permitting access to these other
properties over these parcels of land at some future date. The property also has a good water
supply and 3 phase electrical power and optical cable lines are available.
THE CURRENT OWNERS' VISION: PEACEDALE VILLAGE MASTER PLAN
A proposed Peacedale commercial development would encompass approximately 300 acres. The owners of these
130+ Acres (with more land availavble) commissioned a draft master plan by Brewer Engineering of East Greenbush New York.
They have designed the properties around a comprehensive traffic and infrastructure plan, as well as projected placement
of residential, commercial and some clean light industrial uses in appropriate areas. Retaining any agricultural lands will
be determined by the purchasers.
See Link below for the Master Plan of the 300 acre Peacedale Envelope and a Times Union Newspaper article
TIMES UNION: "SCHODACK PLANS FOR LAND PARCEL" MAY 11, 2011
The Sellers have
completed and will continue to do a substantial amount of ground work for the
development of this project such as:
planning for one that could reach the engineering stage.
- Wetland studies are on
file for the project.
- Tentative limited
access points have been studied by NY DOT.
- A major water storage
tank in the 500,000 gallon range has been investigated by an engineering firm
hired by the Owner who will donate land to the town for this purpose.
- Perk tests have been
taken in a 10 plus acre sand area for gray water disposal.
- Optical cable as well
as a huge electric power dedication runs through the middle of the property.
For those who are
extremely value conscious, there are four elements to this sale that exceed the
- The Value of a 1031
deferment for some one that has a sizable property for sale could defer the
entire amount of capital gains tax into the Peacedale purchase.
- The Value of the
structures. Conservative estimates over a million dollars.
- The Value of the
internal Town Road (Peacedale Road) that traverses through the middle of the
property and provides immediate shovel ready parcels. The construction of this
road with electrical 3 phase service and optical cable we believe could not be
duplicated for close to a million dollars. We are not talking about the
thousands of feet of road frontage on Route 9 that fronts the property with
wall to wall cars whizzing by 24/7.
- The Value of the
preservation/easement charitable donations on a bargain sale to individuals
with generous incomes along with the other considerations stated above would
most likely put one way over the top value wise regarding listed price and
relative to all the other features the property holds and especially its
proximity to 2 major interstate roads.