Mixed-Use Property with Retail
New
For Sale
$1,800,000
110 E State St, Herkimer, NY 13350
COMMERCIAL - Herkimer, NY
Property Size14,260 SF
Lot Size2.10 Acres
Price / SF$126.23
Days on Market1
Property Features for 110 E State St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning description
Commercial
Exterior features
BlacktopDriveway
Lot features
City Lot, Rectangular, Rectangular Lot, Level
Elementary school district
Herkimer
Middle school district
Herkimer
High school district
Herkimer
Directions
Located on Corner of E Satate and S Washington st
Subdivision
Herkimer-Village-213001
Standard status
Active
APN
120.25-4-57 & 58
Size
14,260 SF
Lot size
2.10 Acres
Taxes and HOA fees
Tax Annual Amount
43359
Utilities
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1960
Floors in Building
2
Roof type
Rubber, Asphalt, Membrane
Listing Agency:
Keller-Williams Mohawk Valley · Keller Williams Realty
(315) 701-6900
Listed By:
Delbert Ball · License #10401246417
(315) 868-3933
Added: Aug 9
Last Checked: Aug 9 at 9:06PM
MLS# S1705568
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 mixed-use property spans four parcels and includes two commercial buildings with approximately 14,260 square feet. One building is occupied by Dollar General under a long-term lease. The second structure combines two commercial areas with second-floor residential quarters containing three bedrooms and three bathrooms; the owner currently uses the space for both living and business activities.
The property encompasses 2.1 acres at 110 E State St in Herkimer, with reported daily exposure to more than 20,000 vehicles. Blacktop driveway access and plentiful parking support the commercial improvements. WellNow Urgent Care, Bassett Health Center, and T-Mobile are nearby, while Hannaford, Walmart, and Herkimer County Community College serve as additional surrounding commercial and institutional references. Building systems include natural gas and forced-air heat, public water, and rubber, asphalt, and membrane roofing. The improvements date to 1960.
The property encompasses 2.1 acres at 110 E State St in Herkimer, with reported daily exposure to more than 20,000 vehicles. Blacktop driveway access and plentiful parking support the commercial improvements. WellNow Urgent Care, Bassett Health Center, and T-Mobile are nearby, while Hannaford, Walmart, and Herkimer County Community College serve as additional surrounding commercial and institutional references. Building systems include natural gas and forced-air heat, public water, and rubber, asphalt, and membrane roofing. The improvements date to 1960.
Key Highlights
- Two commercial buildings totaling approximately 14,260 square feet across four parcels
- Dollar General occupies one building under a long‑term lease
- Second building includes two commercial spaces and second‑floor living quarters
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
$144,383
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
8.02%
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%
$2,887,660
$2.9M
Cap Rate 7%
$2,062,614
$2.1M
Cap Rate 9%
$1,604,256
$1.6M
Market Conditions
NOI Build-Up for 14,260 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
$256.7K $18.00/SF
− Vacancy
−$25.7K −$1.80/SF
EGI
$231.0K $16.20/SF
− OpEx
−$86.6K −$6.07/SF
NOI
$144.4K $10.13/SF
Area
Herkimer County, NY
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$2,887,660
Cap Rate 7%
$2,062,614
Cap Rate 9%
$1,604,256
Alternative Uses
Best Use
Retail
$3.33M
$2.92M – $3.89M
NOI $233,339 @ 7.0% cap · market cap 12.96%
Second Best
Mixed Use
$2.06M
$1.80M – $2.41M
NOI $144,383 @ 7.0% cap · market cap 8.02%
Theoretical Best
Office A
$4.24M
$3.71M – $4.95M
NOI $297,112 @ 7.0% cap · market cap 16.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
819
Businesses Nearby
127k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 41%
Shops & Services 23%
Groceries 22%
Electronics 7%
Hannaford
Groceries
28,193 visits/mo
0.3 miles
Burger King
Dining
20,387 visits/mo
0.1 miles
Dunkin' Donuts
Dining
18,836 visits/mo
0.4 miles
Arby's
Dining
11,941 visits/mo
0.2 miles
Dollar General
Shops & Services
6,695 visits/mo
0.0 miles
Demographics for 13350, NY
9,513
Population
4,709
Households
2
Avg Household Size
41
Median Age
20%
College-Educated
92%
High-School Grad
31.6 sq mi
ZIP Area
301
Density / Sq Mi
$62,548
Median Household Income
$37,975
Median Earnings
$821
Median Rent
$136,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-building commercial holding combines an occupied retail structure with business and residential space.
Where is this mixed-use property located?
The property is located at 110 E State St Herkimer, NY.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: Two commercial buildings totaling approximately 14,260 square feet across four parcels; Dollar General occupies one building under a long‑term lease; Second building includes two commercial spaces and second‑floor living quarters
