Green Development Land in Schodack, NY - $2.8M

Located in the Capital Region of New York State and only 15 minutes from downtown Albany and Troy, Peacedale Farm is ideal for expanded agricultural development, speciality farm, a variety of Agri-businesses, Natural Wellness Village with various health-related shops, or for other commercial uses.

Peacedale farm 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.

THE CURRENT OWNERS' VISION:

A buyer would have at the least 3 specific ways to go when purchasing the Peacedale property.

1. Buy the property and use what is in place with a Luke warm thought regarding the future of the property if not for them but their heirs.

2. Using the market as a theme either leaving the antique dealer with its rental income in place or resurrecting it back to the original farm market that could serve as the corner post of a health oriented development.

3. Throw everything to the wind, disregard the buildings and their worth and concentrate on marketing it for a pure commercial/industrial development that would include serious integration of the 300 acre Peacedale envelope in which we own 100 acres of it.

It is important that because of the Peacedale 100 acres fronting all of the properties in the 300 acre envelope that the purchaser would determine the mix. Nothing can go forward to any degree unless the new owner approves it.

The property is in a very liberal zoning classification of the Town regarding allowed uses, because of its isolation from the Towns residents using the B-1 Interchange as a large buffer.

In the first two options listed above agricultural and marketing goals along with self sustainability for family, friends and associates could very well be the priority of a new owner considering the multiple living space on the property with the eventual developmental potential of the property left in the hands of their heirs. Peacedale Farm Market is a land mark and could easily be resurrected to its past prominence in the farm market industry.

With the experience we had in close to a 50 year period operating Peacedale Farms and in particular the roadside market, we would commit ourselves in an advisory capacity to get an owner started in a Farm and Market operation.

The mix of products in the approximate 3000 square feet market building could involve during the growing season all types of produce preferably organically grown by local farmers large and small. We had a very successful relationship with home gardeners that grew all types of different fruits and vegetables. We never had a glut of product. When a product was delivered either by our farm operation or by local growers, it was consumed at times faster than we could display it.

We would encourage a market operation to bring back our bakery operation and concentrate the products to perhaps gluten free and other health oriented and prepared products.

Local grown meats as in free range chickens, beef and buffalo could be considered. Peacedale has a history going back hundreds of years with free range chickens and ducks. We would encourage a full line of nuts and seed similar to a Whole Foods concept.

This market could operate on a all year round basis.

PARCEL OPTIONS:

There are different options that can be provided.

One option would be where a buyer could consider the purchase of a modest parcel consisting of the home, the small out building, the 8 unit apartment house and the original roadside market building on the Route 9 frontage. These buildings are clearly shown in the epeacedale.com website. Carving out this option would require a subdivision procedure and months of process. We have a 63 acre package that consists of 3 deeded parcels that would not require subdivision and would make the property immediately available. Larger packages can be negotiated as well. We have a neighbor to our west with approximately 48 acres that could be included at a very reasonable price that would fit in nicely with a conservation easement application.

With a conservation easement approach on the back land along with the depreciation schedule of approximately 1.5 mil dollars worth of buildings and other write offs this could be huge incentive for a buyer.

Prices of these packages can be discussed and property shown with a visit.

The packages above are owned by us and are part of the Peacedale Ecovillage and clear titles on 3 of the key parcels would allow for a swift transfer and the possession of the buildings including the home.

For those who are interested in the developmental potential of the area.

The proposed Peacedale Eco-Village development encompasses approximately 300 acres owned by 5 individual owners. We commissioned a master plan (link below) that has been conceptually constructed by Brewer Engineering of East Greenbush New York. They have designed the properties around a long term comprehensive traffic and infrastructure plan, as well as projected placement of residential, commercial, office and some clean light industrial uses in appropriate areas. This plan would serve any of the 3 concepts detailed at the start of this material.

A traffic plan was mandated by the Town and the New York State DOT because of the enormous safety concerns generated by the amount of traffic (approximately 20 M per day) and other traffic considerations including traffic generated off of the 2 Interstate connections bordering the property. In fact we have studies that show site visibility before exit from all directions on both Interstates. In our projected 300 acre use plan there is an area overlooking both Interstates that would be perfect for a hotel, perhaps a destination facility and would be an asset to the adjacent golf facility.

Although the current master plan indicates potential big box uses, we envision smaller Eco type applications (Similar to our number 2 choice at the start of this feature) including a super market that focuses on organic and other health oriented food sources along with standard products to serve the local community as well. There are hypothetical residential type uses planned in areas off the road, condos, apartments, duplexes etc. In our previous vision regarding the farm market as a corner stone we believe this application would fit in nicely with the other carriage trade/health oriented uses in the development.

In addition to the surrounding areas thar include five (5) rather affluent townships there is close to 20,000 cars per day passing the site as well as many thousands traveling the two interstate highways that borders the property.

See Link below for a suggested Master Plan of the 300 acre Peacedale Envelope and a Times Union Newspaper article

PEACEDALE VILLAGE MASTER PLAN

TIMES UNION: "SCHODACK PLANS FOR LAND PARCEL" MAY 11, 2011

In addition to the on site support of this development the below demographics clearly indicates generous peripheral support around the area even to the extent of a 1 hour drive time.

1. Located in the precise center of the Northeast. Approximately 15 miles south east of the State Capital of New York.

2. Located on a major double interstate 1-87- and I-90

3. Approximate population within a 1 hours drive, 5,000,000

4. Approximate population within a 15 minute drive, dead center of 5 affluent rural Townships Schodack, Kinderhook, the Chatham's, Southern areas of East Greenbush and Stuyvesant, 100,000 plus

Planned Town municipal water is designated on master plan. A large sand filtration area has been designated for effluent and eventually sewer treatment. There are large water reserves on the property.

If the potential buyer is attracted to the idea of developing an ecovillage, residences, turn key condos, town houses, apartments, commercial services, offices, perhaps some health and medical oriented establishments it will cater to metropolitan interests as well as the 5 rather affluent Townships that surround this property. There are numerous urban interests some for second homes who made a transition to the area after the 9-11 attacks and that includes branches of their different business's that dot the country side. Some of these business's have maintained their presence in the metropolitan areas and frequent the rail service in and out of the city. A Peacedale purchaser would have no problems moving their present business activities to Peacedale because of it favorable zoning classification that mixes residential and commercial together.

1031 EXCHANGE: To defer Capital Gains

For those who contemplate selling property and are faced with huge capital gains and are not acquainted with the 1031 deferment laws, the owners would welcome an opportunity to work with the buyers attorney regarding the critical timing parameters involved with 1031 deferments. Between capital gains deferment, conservation easement potential, depreciation of the buildings along with a modest income return from property rentals the cost of this property becomes very attractive.

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 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.

ADDED VALUE:

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

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.