Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    126 Business Park Dr Utica, NY

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office building in Utica Business Park with vacant space.

    Type:OFFICE
    Property size:
    39,025 SF
    Lot size:
    5.54 Acres
    Added:
    Jun 4, 2024
    Days on Market:
    687
    Last Refresh:
    Apr 5 at 10:03 pm

    Property Features for 126 Business Park Dr

    General Information

    Standard status
    Active
    Size
    39,025 SF
    Lot size
    5.54 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 126 Business Park Dr Contact us

    We can help!

    Listing Contact
    Dominic Pavia

    Listing agent Dominic Pavia License #10301219851

    Listing office Pavia Real Estate Services

    Listing date Jun 4, 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 Pavia Real Estate Services

    Overview

    Utica Business Park Office Building

    This turn-key office building is available for sale or lease and is located within the Utica Business Park. The property has a total size of 39,025 square feet, with 25,973 square feet currently occupied. There is 13,052 square feet of vacant space available for lease. The building is in close proximity to Slocum Dickson and Utica University.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Raab Gregory P Physician Surace Gina M Physician Tidal Basin Group Consultant Smith Richard R Insurance Agency

    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.

    Location Insight

    • Map
    • Local Demand
    City
    Utica
    County
    Oneida
    State
    New York
    Longitude
    -75.2842
    Latitude
    43.0927

    Nearby Similar for Lease

    • Contact for pricing

      Bright Utica Commercial Space Available

      Spacious second-floor commercial space in Franklin Square, Utica.
      421 Seneca Street, Utica, NY 13502
      View Details
    • Contact for pricing

      Downtown Utica Office Space For Rent

      Renovated office space in Utica's Downtown Arts District.
      505 Henry Street, Utica, NY 13502
      View Details
    • Contact for pricing

      Utica Office Space For Rent

      Spacious office suite with high visibility and ample parking.
      2427 Chenango Road, Utica, NY 13502
      View Details
    • Contact for pricing

      Turn-Key Flex Space Available

      Professional flex space for lease with shared amenities in Utica.
      2219 Genesee Street, Utica, NY 13501
      View Details
    • $399,999/mo

      Remodeled Office Building in Utica

      Remodeled office building in high-traffic area, suitable for various uses.
      320 Herkimer Road, Utica, NY 13502
      View Details
    • Contact for pricing

      Downtown Utica Office Space For Sale

      Office space in Downtown Utica, near courthouse and new hospital.
      610 Charlotte St, Utica, NY
      View Details
    • $8/mo

      Utica Business Park Flex Space

      Medical/office/flex space in Utica Business Park for rent.
      6 Rhoads Dr, Utica, NY
      View Details
    • Contact for pricing

      Former Restaurant with Drive-Thru

      Downtown Utica restaurant space with drive-thru and parking.
      326 Genesee St, Utica, NY
      View Details
    • Contact for pricing

      Brewery District Restaurant/Bar Space

      Partially renovated bar and restaurant space in the Brewery District.
      728730 Columbia St, Utica, NY
      View Details
    • $8/mo

      Flexible Space Available For Lease

      Up to 11,003 SF flexible space ideal for various uses.
      506 Nichols St, Utica, NY
      View Details
    • $12/mo

      Office Space in Bagg's Square

      Office space for rent in mixed-use building, build-to-suit.
      421423 Broad St, Utica, NY
      View Details
    • $15/mo

      Office Space Near Government Buildings

      Office space for rent near city, county, and state offices.
      268 Genesee St, Utica, NY
      View Details

    FAQs

    What type of property is this?
    Office building - Office building in Utica Business Park with vacant space.
    Where is this office building located?
    The property is located at 126 Business Park Dr Utica, NY.
    What is the lease rate?
    The lease rate is $22 SF/Yr.
    What are key features of this property?
    This property features: Turn‑key office building ready for immediate occupancy.; Located within the Utica Business Park.; 25,973 ± SF currently occupied, providing immediate income.
    (315) 736-1555 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Dominic Pavia
    Real Estate License ID: 10301219851
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!