Building Details

Year Built 1890

Listing Agency: KW PLATFORM Show Phone

Listed By: ELIZABETH PAGE · License #10401333541 Show Phone

Source: Corcoran

Added: Jun 5, 2024 Changed: Oct 25 Last Checked: Oct 24 at 4:51PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KW PLATFORM

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Investment Insights

Based on property information with market context.

This property is a historic renovated barn structure that has been fully restored and equipped with modern amenities, wood-finish interiors, central air, and security systems. It is ADA compliant and offers a versatile space suitable for corporate offices, warehousing, or commercial ventures. The property has undergone a tremendous number of custom alterations to house corporate offices and a recreation area. It features more than 50 parking spots. The interior is well-suited for continued office use or adaptive reuse of the space, based on zoning. The property includes two adjacent vacant land parcels that are approximately 3 acres, which can be used for parking, building, or other uses. The building could also be converted into residential or shared habitat. The property size is 5888 square feet.

Key Highlights

• Historic renovated barn structure with versatile space.
• Includes two adjacent vacant land parcels (approximately 3 acres) for parking, building, or other uses.
• More than 50 parking spots available.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$44,219

Cap Rate

6.12%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$884,380 $884.4K

Cap Rate 7%

$631,700 $631.7K

Cap Rate 9%

$491,322 $491.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,888 SF

Gross rent

$55.8K $9.48/SF

− Vacancy

−$3.8K −$0.64/SF

EGI

$52.0K $8.84/SF

− OpEx

−$7.8K −$1.33/SF

NOI

$44.2K $7.51/SF

Area

Warren 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 Rate 5%

$884,380

Cap Rate 7%

$631,700

Cap Rate 9%

$491,322

Alternative Uses

Best Use

Office B

$1.30M

$1.14M – $1.52M (±1% cap)

NOI $91,146 @ 7.0% cap · market cap 12.62%

Second Best

Warehouse

$631.7K

$552.7K – $737.0K (±1% cap)

NOI $44,219 @ 7.0% cap · market cap 6.12%

Theoretical Best

Office A

$1.76M

$1.54M – $2.06M (±1% cap)

NOI $123,365 @ 7.0% cap · market cap 17.09%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Lotus Analytics Business To Business Service Lotus Group of Companies, ... Business Administration Service Lotus Healthcare Staffing Employment Agency TEF BRAID Hair Salon

Suggested Use

Top Pick Law Firm Parking Lot & Garage Real Estate Agency Grocery & Convenience Store Storage Facility (Bike/Boat/Book/etc) Store

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

359

Businesses Nearby

Explore this area Business Placement

Demographics for 12885, NY

4,371

Population

2,724

Households

1.6

Avg Household Size

46

Median Age

17%

College-Educated

84%

High-School Grad

80.3 sq mi

ZIP Area

54

Density / Sq Mi

$65,454

Median Household Income

$49,245

Median Earnings

$1,042

Median Rent

$149,000

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Restored barn with modern amenities, suitable for offices or warehousing.

Where is this office building located?

The property is located at 101 River Street Warrensburg, NY.

What is the asking price?

The asking price for this property is $721,999.

What are key features of this property?

This property features: Historic renovated barn structure with versatile space.; Includes two adjacent vacant land parcels (approximately 3 acres) for parking, building, or other uses.; More than 50 parking spots available.