Building Details

Year Built 2004

Listing Agency: REALIZE BROKERS n**@realizebrokers.com Show Phone

Listed By: NICHOLAS KETTER · License #10491210023

Source: Corcoran

Added: Jan 5 Changed: Aug 14 Last Checked: Aug 14 at 7:22AM

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Investment Insights

Based on property information with market context.

The property at 10 Commerce Park Drive is an industrial/flex warehouse compound situated on 2.6 acres in Saratoga County. It benefits from C3 zoning and convenient access to I-87 (Northway) at Exit 16. The site features three Butler-style steel buildings, totaling approximately 13,344 square feet. Two buildings each measure approximately 6,000 square feet (60' x 100') and offer 18-foot ceiling heights. These buildings have a mix of warehouse and office buildout, with non-load-bearing interior walls that allow for easy conversion to fully clear-span spaces. Additionally, there is a 1,344 square foot garage/shop building with 16-foot ceilings and three overhead doors. The property includes a total of 11 at-grade overhead doors across the site, along with ample parking, turn-around space, and an outdoor storage area. Each building has separate utilities. The site is served by a private well and septic system. The warehouse spaces are equipped with radiant floor heat. The property is well maintained with short-term tenants and can be delivered vacant at closing.

Key Highlights

• Excellent access to I‑87 (Northway) at Exit 16.
• C3 zoning in Saratoga County allows for a variety of uses.
• Three buildings totaling 13,344 SF, including two 6,000 SF warehouses with 18' ceilings.**

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

$82,529

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

5.89%

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%

$1,650,580 $1.7M

Cap Rate 7%

$1,178,986 $1.2M

Cap Rate 9%

$916,989 $917.0K

Market Conditions

NOI Build-Up for 13,344 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

$126.5K $9.48/SF

− Vacancy

−$8.6K −$0.64/SF

EGI

$117.9K $8.84/SF

− OpEx

−$35.4K −$2.65/SF

NOI

$82.5K $6.18/SF

Area

Saratoga County, NY

Vacancy

6.80%

Lease Rate

$9.48 /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%

$1,650,580

Cap Rate 7%

$1,178,986

Cap Rate 9%

$916,989

Alternative Uses

Best Use

Flex RnD

$2.77M

$2.42M – $3.23M (±1% cap)

NOI $193,595 @ 7.0% cap · market cap 13.83%

Second Best

Industrial

$1.18M

$1.03M – $1.38M (±1% cap)

NOI $82,529 @ 7.0% cap · market cap 5.89%

Theoretical Best

Office A

$3.99M

$3.49M – $4.66M (±1% cap)

NOI $279,583 @ 7.0% cap · market cap 19.97%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

518 Disaster Restoration Hardware & Home Improvement SERVPRO of Southern Saratoga ... Hardware & Home Improvement

Suggested Use

Top Pick Building Supply Garden Center Furniture & Home Goods Butcher Restaurant Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

56

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 12831, NY

17,483

Population

7,228

Households

2.4

Avg Household Size

43

Median Age

44%

College-Educated

94%

High-School Grad

65.2 sq mi

ZIP Area

268

Density / Sq Mi

$100,833

Median Household Income

$59,278

Median Earnings

$1,361

Median Rent

$308,700

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Well-located industrial/flex warehouse compound on 2.6 acres in Saratoga County.

Where is this flex space located?

The property is located at 10 Commerce Park Drive Wilton, NY.

What is the asking price?

The asking price for this property is $1,400,000.

What are key features of this property?

This property features: Excellent access to I‑87 (Northway) at Exit 16.; C3 zoning in Saratoga County allows for a variety of uses.; Three buildings totaling 13,344 SF, including two 6,000 SF warehouses with 18' ceilings.**