Three-Bay Auto Body
For Sale
$199,900
Pending
265 S Main Street, Gloversville, NY 12078
Commercial Sale, Gloversville, NY
Property Size1,200 SF
Lot Size0.72 Acres
Days on Market138
Property Features for 265 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking
50
Directions
s main st
Standard status
Pending
APN
170500 149.9-6-13.12
Size
1,200 SF
Lot size
0.72 Acres
Taxes and HOA fees
Tax Annual Amount
906
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Building materials
Block
Listing Agency:
Helou International Realty Corp
Listed By:
Burhan Helou · License #10311202641
(518) 844-2447
Added: Apr 29
Changed: Sep 12
Last Checked: Sep 13 at 10:06PM
MLS# 202616048
Copyright © 2026 Global MLS, Inc. 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.
Located at 265 S Main Street in Gloversville, this automotive property includes an insulated 36x40 shop configured with three bays. The improvements include vehicle lifts, a compressor, and new HVAC, along with a separate 24x24 garage. Block construction, central air, and forced-air heating support the existing facility configuration.
The property encompasses 0.72 acres and includes an adjacent 110x348 lot designated for additional parking. Public water and public sewer serve the site. The property is zoned Commercial and is identified for sale as an auto shop asset.
The property encompasses 0.72 acres and includes an adjacent 110x348 lot designated for additional parking. Public water and public sewer serve the site. The property is zoned Commercial and is identified for sale as an auto shop asset.
Key Highlights
- Insulated 36x40 shop with 3 bays
- Vehicle lifts and compressor included
- New HVAC system with central air
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
$11,298
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
5.65%
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%
$225,960
$226.0K
Cap Rate 7%
$161,400
$161.4K
Cap Rate 9%
$125,533
$125.5K
Market Conditions
NOI Build-Up for 1,200 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 $14.04/SF
− Vacancy
−$708 −$0.59/SF
EGI
$16.1K $13.45/SF
− OpEx
−$4.8K −$4.04/SF
NOI
$11.3K $9.42/SF
Area
Fulton County, NY
Vacancy
4.20%
Lease Rate
$14.04 /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%
$225,960
Cap Rate 7%
$161,400
Cap Rate 9%
$125,533
Alternative Uses
Best Use
Retail
$161.4K
$141.2K – $188.3K
NOI $11,298 @ 7.0% cap · market cap 5.65%
Second Best
Industrial
$106.0K
$92.8K – $123.7K
NOI $7,422 @ 7.0% cap · market cap 3.71%
Theoretical Best
Multifamily LT 5
$829.6K
$725.9K – $967.9K
NOI $58,071 @ 7.0% cap · market cap 29.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Service bays
Location Intelligence
Trade Area within ½ mile
344
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12078, NY
23,009
Population
11,668
Households
2
Avg Household Size
44
Median Age
18%
College-Educated
87%
High-School Grad
110.8 sq mi
ZIP Area
208
Density / Sq Mi
$54,565
Median Household Income
$36,769
Median Earnings
$908
Median Rent
$122,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Similar Off Market Nearby
- European Auto Works — 11 Harrison St, Gloversville, NY 12078
- Chad's Second Gear — 6 Jeffers St, Gloversville, NY 12078
- Jtm Mobile mechanic — 413 S Main St, Gloversville, NY 12078
- Nix Auto Body — 49 Hill St, Gloversville, NY 12078
- Glenn's Automotive — 20 S Nassau St, Gloversville, NY 12078
Frequently Asked Questions
What type of property is this?
Auto shop - Block-built automotive facility with supplemental garage space, public utilities, central air, and forced-air heating.
Where is this auto shop located?
The property is located at 265 S Main Street Gloversville, NY.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Insulated 36x40 shop with 3 bays; Vehicle lifts and compressor included; New HVAC system with central air
