Renovated Auto Shop with
For Sale
$220,000
Pending
2164 Broad Street, Utica, NY 13501
CommercialSale, Utica, NY
Property Size1,120 SF
Lot Size0.25 Acres
Days on Market37
Property Features for 2164 Broad Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Zoning description
Commercial
Parking
10
Security features
Security
Lot features
Rectangular, Rectangular Lot
Elementary school district
Utica
Middle school district
Utica
High school district
Utica
Subdivision
Utica-City-301600
Standard status
Pending
APN
301600-319-020-0001-004-000-0000
Size
1,120 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Annual Amount
1656
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Space Heater, Forced Air
Water source
Public
Building Details
Year built
1955
Floors in Building
1
Flooring type
Concrete
Building materials
Block
Roof type
Flat
Listing Agency:
Coldwell Banker Faith Properties · Coldwell Banker Real Estate
(315) 735-2222
Listed By:
Elzbieta Pawlowski · License #10401302245
(315) 272-9525
Added: Jul 24
Changed: Aug 19
Last Checked: Aug 29 at 8:06AM
MLS# S1701241
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 1,120-square-foot auto shop is configured for automotive repair and body-work operations, with five functional rooms, office space, a bathroom, storage, and a concrete floor. The property includes two car lifts, two spot heaters, a compressor, an oil-change canister, shelving, a storage cabinet, washer and dryer, and related furnishings and equipment. Recent improvements include stucco, windows, lighting, a door, paint, and an upgraded concrete floor.
Vehicle access is provided by two 12*10 garage doors plus a side entrance. The site includes public water, public sewer, natural gas heating, two CB electric boxes, an eight-year-old RBM roof, a water heater, and a furnace. An oversized compact-stone driveway supports customer parking, vehicle storage, or daily shop operations. The 0.25-acre property also includes an adjoining 0.12-acre commercial lot.
Vehicle access is provided by two 12*10 garage doors plus a side entrance. The site includes public water, public sewer, natural gas heating, two CB electric boxes, an eight-year-old RBM roof, a water heater, and a furnace. An oversized compact-stone driveway supports customer parking, vehicle storage, or daily shop operations. The 0.25-acre property also includes an adjoining 0.12-acre commercial lot.
Key Highlights
- 1,120‑square‑foot auto shop on a 0.25‑acre property
- Two car lifts, two spot heaters, compressor, and oil‑change canister included
- Five functional rooms with office space, bathroom, and storage
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
$11,266
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
5.12%
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%
$225,320
$225.3K
Cap Rate 7%
$160,943
$160.9K
Cap Rate 9%
$125,178
$125.2K
Market Conditions
NOI Build-Up for 1,120 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
$16.8K $15.00/SF
− Vacancy
−$706 −$0.63/SF
EGI
$16.1K $14.37/SF
− OpEx
−$4.8K −$4.31/SF
NOI
$11.3K $10.06/SF
Area
Oneida County, NY
Vacancy
4.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$225,320
Cap Rate 7%
$160,943
Cap Rate 9%
$125,178
Alternative Uses
Best Use
Retail
$160.9K
$140.8K – $187.8K
NOI $11,266 @ 7.0% cap · market cap 5.12%
Second Best
Industrial
$99.0K
$86.6K – $115.5K
NOI $6,927 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$295.1K
$258.3K – $344.3K
NOI $20,660 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Service bays
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13501, NY
40,885
Population
17,071
Households
2.4
Avg Household Size
35
Median Age
22%
College-Educated
78%
High-School Grad
8.8 sq mi
ZIP Area
4,646
Density / Sq Mi
$49,771
Median Household Income
$33,632
Median Earnings
$865
Median Rent
$136,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- WORLDWIDE AUTO & PARTS — 2323 Bleecker St, Utica, NY 13501
- Rob's Auto Repair — 2269 Bleecker St, Utica, NY 13501
- Utica Towing NY — 2404 Broad St, Frankfort, NY 13340
- Syracuse Radiator Repair Co — 167 Taft Ave, Frankfort, NY 13340
- Ram Collision Inc — 104 Zoar Ave, Frankfort, NY 13340
Frequently Asked Questions
What type of property is this?
Auto shop - Commercial auto-body facility with multiple work areas, vehicle access, and an oversized driveway for parking or storage.
Where is this auto shop located?
The property is located at 2164 Broad Street Utica, NY.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: 1,120‑square‑foot auto shop on a 0.25‑acre property; Two car lifts, two spot heaters, compressor, and oil‑change canister included; Five functional rooms with office space, bathroom, and storage
