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    5140 Commercial Dr Yorkville, NY

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    Retail property with high traffic and strong tenant potential.

    Type:RETAIL
    Property size:
    23,250 SF
    Lot size:
    1.90 Acres
    Price / SF:
    $50/SF
    Added:
    Apr 25, 2024
    Days on Market:
    728
    Last Refresh:
    Apr 5 at 9:40 pm

    Property Features for 5140 Commercial Dr

    General Information

    Standard status
    Active
    Size
    23,250 SF
    Lot size
    1.90 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Shane Smith

    Listing agent Shane Smith

    Listing office Friedman Integrated Real Estate - Corporate

    Listing date Apr 25, 2024

    Source Moodyscre

    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 Friedman Integrated Real Estate - Corporate

    Overview

    Commercial Drive Retail Opportunity

    This retail property is situated on Commercial Drive, a retail thoroughfare experiencing approximately 18,000 vehicles per day. The location offers direct access to New York State Route 5A, facilitating convenient access to the regional expressway system. The property benefits from its proximity to numerous auto retailers and servicers, including Nissan, Toyota, Honda, Chrysler, Ram, Dodge, Jeep, Subaru, Volkswagen, Chevrolet, Ford, Lincoln, Mazda, Napa Auto Parts, Speedway, Hyundai, and Advance Auto Parts. This concentration of automotive businesses may attract additional auto-related customers to the site. Within a five-mile radius, the population exceeds 108,000 residents, with an average household income surpassing $74,000. The retail space within a three-mile radius encompasses approximately 9.9 million square feet, with a vacancy rate of approximately 1.0%, indicating a significant demand and limited supply for retail space in the area. The property can be sold in a portfolio with Gerber Collision at 973 Hertel Ave in Buffalo, NY. The Gerber Collision lease includes a corporate guarantee by the Boyd Group. Gerber Collision is described as a service-oriented and recession-resistant tenant. There are currently only two Gerber Collisions on the market nationwide. The property size is 23,250 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Enterprise Truck Rental Car Rental Facility Gerber Collision & Glass Auto Repair Shop JM Door Co Building Supply

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Steet Toyota of Yorkville Service — 4991 Commercial Dr, Yorkville, NY 13495
    • Quick Change Inc — 4990 Commercial Dr, Yorkville, NY 13495
    • Steet Ponte Body Shop — 4988 Commercial Dr, Yorkville, NY 13495
    • Mohawk Automotive — 4952 Commercial Dr, Yorkville, NY 13495
    • Steet Ponte Nissan Service — 4967 Commercial Dr, Yorkville, NY 13495

    Location Insight

    • Map
    • Local Demand
    City
    Yorkville
    County
    Oneida
    State
    New York
    Longitude
    -75.2885
    Latitude
    43.1143

    FAQs

    What type of property is this?
    Auto shop - Retail property with high traffic and strong tenant potential.
    Where is this auto shop located?
    The property is located at 5140 Commercial Dr Yorkville, NY.
    What is the asking price?
    The asking price for this property is $1,180,000.
    What are key features of this property?
    This property features: Corporate guarantee by the Boyd Group (TSX:BYD) on the Gerber Collision lease.; Gerber Collision is a service‑oriented and recession‑resistant tenant.; Limited supply of retail space in the area, with a vacancy rate of ±1.0% within a three‑mile radius.
    (248) 324-2000 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Shane Smith
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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