Office Building on Corner
For Sale
$875,000
1150 ARSENAL ST, Watertown, NY 13601
Office space on two combined lots on a high-visibility corner, with multiple system and interior updates over the last five years.
Property Size3,240 SF
Price / SF$270.06
Days on Market41
Property Features for 1150 ARSENAL ST
General Information
Standard status
Active
Size
3,240 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$6,115
Amenities
Gas
3
Asphalt
Parking.
10 Parking Spaces. Other Parking.
Rectangular
120X142
Other Road Type, Rectangular.
Building Details
Year Built
2007
Stories
1
Listing Agency:
Marzano Real Estate, LLC.
(315) 788-7777
Listed By:
Tara Marzano
(315) 788-7777
Source:
Xome
Added: Jul 18
Changed: Aug 23
Last Checked: Aug 26 at 5:47AM
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 Marzano Real Estate, LLC.
Investment Insights
Based on property information with market context.
This offering includes two lots with office space and room to expand. Recent improvements over the last five years include a new roof, AC, furnace, updated flooring, paving, electrical work, and interior paint.
The property is located on Watertown’s busiest street and sits on a high-visibility corner. Assessment, road frontage, and tax information are reported for both parcels together, and the provided square footage is stated as larger than what city records reflect by approximately 2,200 square feet.
The property is located on Watertown’s busiest street and sits on a high-visibility corner. Assessment, road frontage, and tax information are reported for both parcels together, and the provided square footage is stated as larger than what city records reflect by approximately 2,200 square feet.
Key Highlights
- Two combined lots on Watertown’s busiest street with office space on a high‑visibility corner.
- Year built 2007 with asphalt roof.
- Updates in the last five years include roof, AC, furnace, flooring, paving, electrical, and paint.
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
$45,140
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
5.16%
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%
$902,800
$902.8K
Cap Rate 7%
$644,857
$644.9K
Cap Rate 9%
$501,556
$501.6K
Market Conditions
NOI Build-Up for 3,240 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
$77.8K $24.00/SF
− Vacancy
−$17.6K −$5.42/SF
EGI
$60.2K $18.58/SF
− OpEx
−$15.0K −$4.64/SF
NOI
$45.1K $13.93/SF
Area
Jefferson County, NY
Vacancy
22.60%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$902,800
Cap Rate 7%
$644,857
Cap Rate 9%
$501,556
Alternative Uses
Best Use
Office B
$644.9K
$564.3K – $752.3K
NOI $45,140 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$893.1K
$781.5K – $1.04M
NOI $62,519 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
Explore this area
Business Placement
Demographics for 13601, NY
37,287
Population
18,653
Households
2
Avg Household Size
37
Median Age
25%
College-Educated
90%
High-School Grad
140.8 sq mi
ZIP Area
265
Density / Sq Mi
$57,503
Median Household Income
$37,061
Median Earnings
$974
Median Rent
$170,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office space on two combined lots on a high-visibility corner, with multiple system and interior updates over the last five years.
Where is this office building located?
The property is located at 1150 ARSENAL ST Watertown, NY.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Two combined lots on Watertown’s busiest street with office space on a high‑visibility corner.; Year built 2007 with asphalt roof.; Updates in the last five years include roof, AC, furnace, flooring, paving, electrical, and paint.
