COMMERCIAL DEVELOPMENT LAND - 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 shopping center, hotel-motel, retail center, office complex, medical facilities, trucking uses, warehouse facilities, and almost any other commercial use.

This 63 acre development site is 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. This is one of the last pieces of prime development property located next to an Interstate interchange in the Capital District area of New York State. With only a small handful of residential 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. Most recently, another highly traveled entrance/exit ramp (Exit 12) from Interstate I-90 was constructed 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 this land at some future date. It also has a good water supply and 3 phase electrical power and optical cable lines are available.

The Owners of the Peacedale development site have one primary goal and that is to have the property developed not only the way they would want it, but to develop it in conformance with the wishes and desires of the Town planners and the community as well. The Peacedale development site is not something to be wasted with a hodgepodge of smaller independently developed parcels, which quickly becomes apparent after a visit to the site.

The Sellers have completed and will continue to do a substantial amount of ground work for the development of this project such as:

• Infrastructure 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 our engineering firm Owner 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.

ADDED VALUE:

For those who are extremely value conscious, there are four elements to this sale that exceed the asking price:

1. 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.
2. The Value of the structures. Conservative estimates over a million dollars.
3. 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 our property with wall to wall cars whizzing by 24/7.
4. 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.

If you would like more information on this property, please call John Wallace at 518-392-7062, or click on the mailbox below to email him.