Commercial Development Land
For Sale
$275,000
5403 Willow Place, Verona, NY 13478
Land, Verona, NY
Property Size2,096 SF
Lot Size1.10 Acres
Price / SF$131.20
Days on Market1197
Property Features for 5403 Willow Place
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
5
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 5, Bathroom 1, Bedroom 1
Vegetation
Wooded
Exterior features
GravelDriveway
Lot features
Residential Lot, Wooded
Elementary school district
Sherrill City
Middle school district
Sherrill City
High school district
Sherrill City
Directions
rt 365 to willow place , dead end rd
Subdivision
Verona-306200
Standard status
Active
APN
306200-298-000-0001-029-000-0000
Size
2,096 SF
Lot size
1.10 Acres
Taxes and HOA fees
Tax Annual Amount
2783
Building Details
Year built
1865
Floors in Building
1
Listing Agency:
Berkshire Hathaway CNY Realty · Berkshire Hathaway HomeServices
(315) 733-0463
Listed By:
James Clute · License #10401360762
(315) 542-9158
Added: Jun 7, 2023
Changed: Sep 12
Last Checked: Sep 15 at 2:06AM
MLS# S1476002
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 commercial land lot at 5403 Willow Place offers approximately 1.1 acres for future development. The seller’s remarks indicate the site may be part of a larger opportunity, with the possibility of additional property.
The property is located in Verona, New York (Oneida County). The public remarks also note close proximity to hotels and restaurants, which may support a variety of development concepts consistent with commercial use.
While specific improvements and site details are not provided, this is a straightforward land offering for buyers looking to develop a commercial parcel in the Verona area.
The property is located in Verona, New York (Oneida County). The public remarks also note close proximity to hotels and restaurants, which may support a variety of development concepts consistent with commercial use.
While specific improvements and site details are not provided, this is a straightforward land offering for buyers looking to develop a commercial parcel in the Verona area.
Key Highlights
- 1.10‑acre lot with gravel driveway
- Year built listed as 1865
- Rooms include 5 bedrooms and 1 bathroom
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
$17,448
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
6.34%
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%
$348,960
$349.0K
Cap Rate 7%
$249,257
$249.3K
Cap Rate 9%
$193,867
$193.9K
Market Conditions
NOI Build-Up for 2,096 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
$34.0K $16.20/SF
− Vacancy
−$2.2K −$1.06/SF
EGI
$31.7K $15.14/SF
− OpEx
−$14.3K −$6.81/SF
NOI
$17.4K $8.32/SF
Area
Oneida County, NY
Vacancy
6.57%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$348,960
Cap Rate 7%
$249,257
Cap Rate 9%
$193,867
Alternative Uses
Best Use
Apartment 5plus
$249.3K
$218.1K – $290.8K
NOI $17,448 @ 7.0% cap · market cap 6.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$552.3K
$483.3K – $644.4K
NOI $38,664 @ 7.0% cap · market cap 14.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
29
Businesses Nearby
Explore this area
Business Placement
Demographics for 13478, NY
3,084
Population
1,547
Households
2
Avg Household Size
45
Median Age
19%
College-Educated
97%
High-School Grad
35.0 sq mi
ZIP Area
88
Density / Sq Mi
$77,195
Median Household Income
$39,872
Median Earnings
$850
Median Rent
$189,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Land - For sale in Verona, NY, this commercial land parcel offers about 1.1 acres for development.
Where is this land located?
The property is located at 5403 Willow Place Verona, NY.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1.10‑acre lot with gravel driveway; Year built listed as 1865; Rooms include 5 bedrooms and 1 bathroom
