Two-Story Flex Space with Drive-In
For Sale
$399,000
1203 N Main Street, Jamestown, NY 14701
CommercialSale, Jamestown, NY
Property Size3,569 SF
Lot Size0.44 Acres
Price / SF$111.80
Days on Market101
Property Features for 1203 N Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
433
Zoning description
Business
Parking
30
Lot features
Irregular Lot
Elementary school
Samuel G Love Elementary
Middle school
Washington Middle
High school
Jamestown High
Elementary school district
Jamestown
Middle school district
Jamestown
High school district
Jamestown
Subdivision
Jamestown-City-060800
Standard status
Active
APN
060800-370-014-0003-012-000
Size
3,569 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Annual Amount
3626
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas, Baseboard
Water source
Public
Amenities
private office
half bath
propane hookup
drive-through access
overhead doors
Building Details
Year built
1950
Floors in Building
2
Roof type
Membrane, Rubber, Flat
Listing Agency:
Real Estate Advantage
(716) 484-2020
Listed By:
Richard Benedetto · License #31BE0882362
(716) 665-9403
Added: Jun 1
Changed: Sep 7
Last Checked: Sep 9 at 12:06PM
MLS# R1686580
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story flex property contains approximately 3,569 square feet on a 0.4428-acre parcel. The upper level has two drive-in bays, a private office, and a half bath, while the lower level adds two private offices, two additional drive-in bays, and a propane hookup in the shop area. Four overhead doors support vehicle and equipment movement between the building and work areas. A vehicle lift, air compressor, and select shop tools may be included through negotiation.
The property occupies the corner of North Main Street and Fluvanna Ave in Jamestown, with exposure along a four-lane commercial corridor that connects directly to Interstate 86. Public water and public sewer serve the site. The building was constructed in 1950 and has a flat membrane and rubber roof, with forced-air, natural-gas, and baseboard heating systems.
The property occupies the corner of North Main Street and Fluvanna Ave in Jamestown, with exposure along a four-lane commercial corridor that connects directly to Interstate 86. Public water and public sewer serve the site. The building was constructed in 1950 and has a flat membrane and rubber roof, with forced-air, natural-gas, and baseboard heating systems.
Key Highlights
- 3,569 SF two‑story flex property on 0.4428 acres
- Four drive‑in bays and four overhead doors
- Two private offices, a separate office, and a half bath
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$31,067
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.79%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$621,340
$621.3K
Cap Rate 7%
$443,814
$443.8K
Cap Rate 9%
$345,189
$345.2K
Market Conditions
NOI Build-Up for 3,569 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$51.4K $14.40/SF
− Vacancy
−$3.6K −$1.01/SF
EGI
$47.8K $13.39/SF
− OpEx
−$16.7K −$4.69/SF
NOI
$31.1K $8.70/SF
Area
Chautauqua County, NY
Vacancy
7.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$621,340
Cap Rate 7%
$443,814
Cap Rate 9%
$345,189
Alternative Uses
Best Use
Retail
$625.7K
$547.5K – $730.0K
NOI $43,800 @ 7.0% cap · market cap 10.98%
Second Best
Flex RnD
$443.8K
$388.3K – $517.8K
NOI $31,067 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$1.07M
$934.7K – $1.25M
NOI $74,778 @ 7.0% cap · market cap 18.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Drive-in doors
4
Service bays
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
243
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14701, NY
38,428
Population
19,469
Households
2
Avg Household Size
42
Median Age
25%
College-Educated
90%
High-School Grad
92.6 sq mi
ZIP Area
415
Density / Sq Mi
$50,909
Median Household Income
$34,592
Median Earnings
$769
Median Rent
$98,400
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Elegant Edibles Catering — 1101 N Main St, Jamestown, NY 14701
Frequently Asked Questions
What type of property is this?
Flex space - Two-story commercial building with four drive-in bays, offices, and flexible shop space for service or warehouse operations.
Where is this flex space located?
The property is located at 1203 N Main Street Jamestown, NY.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 3,569 SF two‑story flex property on 0.4428 acres; Four drive‑in bays and four overhead doors; Two private offices, a separate office, and a half bath
