Auto Shop with
New
For Sale
$675,000
111 Nott Terrace, Schenectady, NY 12308
Commercial Sale, Schenectady, NY
Property Size5,587 SF
Lot Size0.23 Acres
Price / SF$120.82
Days on Market5
Property Features for 111 Nott Terrace
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bathroom 3, Bathroom 2
Parking
20
Parking features
Off Street
Interior features
Paddle Fan, Built-in Features
Exterior features
Lighting
Lot features
Views, Road Frontage, Level
Directions
State Street to Nott Terrace. Property is located at 111 Nott Terrace in Downtown Schenectady, near Union College and Nott Terrace Heights.
Standard status
Active
APN
421500 39.73-2-33.1
Size
5,587 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Annual Amount
8861
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Ductless (Heating), Radiant, Natural Gas
Water source
Public
Amenities
15' ceilings
three overhead doors
multiple office areas
showroom space
finished second level
Building Details
Year built
1947
Floors in Building
2
Building materials
Steel Beam, Block, Brick
Roof type
Shingle, Rubber, Fiberglass
Architectural style
Other
Listing Agency:
Venture Fox Realty Group LLC
(518) 290-1070
Listed By:
Rachel Teidman · License #10301224225
(518) 888-2779
Added: Oct 1
Changed: Oct 2
Last Checked: Oct 5 at 3:06AM
MLS# 202627500
Copyright © 2026 Global MLS, Inc. 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 5,587-square-foot auto shop combines showroom space, multiple offices and a finished second level. Three overhead doors and 15-foot ceilings support the building’s service configuration, while brick, block and steel beam construction forms its exterior and structural framework. Recent work includes added insulation and exterior painting. The property was built in 1947 and occupies 0.23 acres.
The Schenectady property is near Union College, downtown businesses, restaurants, Proctors and Rivers Casino, with major highways also nearby. Its zoning is Commercial.
The Schenectady property is near Union College, downtown businesses, restaurants, Proctors and Rivers Casino, with major highways also nearby. Its zoning is Commercial.
Key Highlights
- 5,587 square feet on a 0.23‑acre site
- Three overhead doors and 15‑foot ceilings
- Showroom, multiple office areas and a finished second level
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
$34,554
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
5.12%
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%
$691,080
$691.1K
Cap Rate 7%
$493,629
$493.6K
Cap Rate 9%
$383,933
$383.9K
Market Conditions
NOI Build-Up for 5,587 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
$53.0K $9.48/SF
− Vacancy
−$3.6K −$0.64/SF
EGI
$49.4K $8.84/SF
− OpEx
−$14.8K −$2.65/SF
NOI
$34.6K $6.18/SF
Area
Schenectady 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%
$691,080
Cap Rate 7%
$493,629
Cap Rate 9%
$383,933
Alternative Uses
Best Use
Retail
$963.4K
$843.0K – $1.12M
NOI $67,440 @ 7.0% cap · market cap 9.99%
Second Best
Industrial
$493.6K
$431.9K – $575.9K
NOI $34,554 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$1.67M
$1.46M – $1.95M
NOI $117,059 @ 7.0% cap · market cap 17.34%
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
2,051
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12308, NY
15,285
Population
6,442
Households
2.4
Avg Household Size
31
Median Age
29%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
6,646
Density / Sq Mi
$59,789
Median Household Income
$35,966
Median Earnings
$1,159
Median Rent
$180,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Similar Off Market Nearby
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- State Street Mobil Services — 936 State St, Schenectady, NY 12307
- Ads Auto Repair — 3 Steuben St, Schenectady, NY 12307
- R&R Auto Repair — 199 Hulett St, Schenectady, NY 12307
- R & J Auto Repair — 828 State St, Schenectady, NY 12307
Frequently Asked Questions
What type of property is this?
Auto shop - Commercial zoning and a finished upper level complement the service-oriented layout.
Where is this auto shop located?
The property is located at 111 Nott Terrace Schenectady, NY.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 5,587 square feet on a 0.23‑acre site; Three overhead doors and 15‑foot ceilings; Showroom, multiple office areas and a finished second level
