Flex Space Garage with Multiple
For Sale
$159,900
85 E Fulton St, Gloversville, NY 12078
COMMERCIAL - Gloversville, NY
Property Size1,458 SF
Price / SF$109.67
Days on Market155
Property Features for 85 E Fulton St
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1
Directions
Main st to E fulton .
Standard status
Active
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1276
Utilities
Heating system
Natural Gas, Forced Air, Zoned
Water source
Public
Building Details
Floors in Building
1
Building materials
Vinyl Siding
Roof type
Rubber
Listing Agency:
JOSEPH M LANDER REALTY INC
(518) 848-6993
Listed By:
Joseph Lander
Added: Mar 5
Changed: Aug 5
Last Checked: Aug 7 at 12:06PM
MLS# 11668410
Copyright © 2026 My State MLS. 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.
Renovated flex space garage totaling 54x27 with one 10x9.6 door and one 11x12 door. There is another opening that could allow for a third door. The building has undergone renovations and is described as in excellent condition. Exterior materials include vinyl siding with a rubber roof.
The property is located across from a busy discount beverage and liquor store and is described as a gateway to downtown Gloversville. Signage includes a huge sign plus a separate digital display sign for messaging.
Mechanical and operational features include a newer furnace with direct hot water, insulated doors, and an air compressor. Heat is provided via forced air with zoned natural gas service, and water is supplied by public water. Possible owner financing is mentioned.
The property is located across from a busy discount beverage and liquor store and is described as a gateway to downtown Gloversville. Signage includes a huge sign plus a separate digital display sign for messaging.
Mechanical and operational features include a newer furnace with direct hot water, insulated doors, and an air compressor. Heat is provided via forced air with zoned natural gas service, and water is supplied by public water. Possible owner financing is mentioned.
Key Highlights
- 54x27 garage layout with one 10x9.6 door and one 11x12 door
- Additional opening could accommodate a third door
- Huge sign plus separate digital display sign for messaging
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
$10,950
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
6.85%
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%
$219,000
$219.0K
Cap Rate 7%
$156,429
$156.4K
Cap Rate 9%
$121,667
$121.7K
Market Conditions
NOI Build-Up for 1,458 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
$13.8K $9.48/SF
− Vacancy
−$940 −$0.64/SF
EGI
$12.9K $8.84/SF
− OpEx
−$1.9K −$1.33/SF
NOI
$10.9K $7.51/SF
Area
Fulton County, NY
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$219,000
Cap Rate 7%
$156,429
Cap Rate 9%
$121,667
Alternative Uses
Best Use
Warehouse
$156.4K
$136.9K – $182.5K
NOI $10,950 @ 7.0% cap · market cap 6.85%
Second Best
Industrial
$128.8K
$112.7K – $150.3K
NOI $9,017 @ 7.0% cap · market cap 5.64%
Theoretical Best
Multifamily LT 5
$1.01M
$882.0K – $1.18M
NOI $70,556 @ 7.0% cap · market cap 44.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
723
Businesses Nearby
Under-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
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Renovated flex space garage with public water, natural gas forced-air heat, insulated doors, and sign messaging displays.
Where is this flex space located?
The property is located at 85 E Fulton St Gloversville, NY.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: 54x27 garage layout with one 10x9.6 door and one 11x12 door; Additional opening could accommodate a third door; Huge sign plus separate digital display sign for messaging
