Two-Story Flex Space with Drive-In
For Sale
$399,000
1203 N Main Street, Jamestown, NY 14701
COMMERCIAL - Jamestown, NY
Property Size3,569 SF
Lot Size0.44 Acres
Price / SF$111.80
Days on Market93
Property Features for 1203 N Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
433
Zoning description
Business
Parking
30
Lot features
Irregular Lot
Elementary school
Samuel G Love Elementary
Middle school
Washington Middle
High school
Jamestown High
Elementary school district
Jamestown
Middle school district
Jamestown
High school district
Jamestown
Subdivision
Jamestown-City-060800
Standard status
Active
APN
060800-370-014-0003-012-000
Size
3,569 SF
Lot size
0.44 Acres
Taxes and HOA fees
Tax Annual Amount
3626
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas, Baseboard
Water source
Public
Amenities
private office
half bath
drive-in bays
overhead doors
propane hookup
Building Details
Year built
1950
Floors in Building
2
Roof type
Rubber, Membrane, Flat
Listing Agency:
Real Estate Advantage
(716) 484-2020
Listed By:
Richard Benedetto · License #31BE0882362
(716) 665-9403
Added: Jun 1
Changed: Aug 4
Last Checked: Sep 1 at 9:06AM
MLS# R1686580
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 two-story flex space at 1203 N Main Street, Jamestown offers approximately 3,569 square feet of functional interior space designed for automotive, contractor, distribution, warehouse, service, or mixed-use showroom operations. The upper level includes two drive-in bays, a private office, and a convenient half bath. The lower level adds two more drive-in bays, two private offices, and a propane hookup in the shop area, supporting expanded service operations, storage, or fabrication. Four overhead doors provide drive-through functionality and streamlined vehicle and equipment movement. A vehicle lift, air compressor, and select shop tools may be included through negotiation.
The property is positioned at the visible corner of North Main Street and Fluvanna Ave along four-lane North Main Street, a major commercial corridor connecting directly to Interstate 86, supporting strong daily traffic.
Built in 1950, the building features forced air, natural gas, and baseboard heating, a flat membrane/rubber roof, public water, and public sewer. Zoning is listed as 433.
The property is positioned at the visible corner of North Main Street and Fluvanna Ave along four-lane North Main Street, a major commercial corridor connecting directly to Interstate 86, supporting strong daily traffic.
Built in 1950, the building features forced air, natural gas, and baseboard heating, a flat membrane/rubber roof, public water, and public sewer. Zoning is listed as 433.
Key Highlights
- 0.4428‑acre corner property at North Main Street and Fluvanna Ave
- Two‑story layout with two drive‑in bays upstairs and two drive‑in bays downstairs
- Four overhead doors for seamless drive‑through access
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
$31,067
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
7.79%
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%
$621,340
$621.3K
Cap Rate 7%
$443,814
$443.8K
Cap Rate 9%
$345,189
$345.2K
Market Conditions
NOI Build-Up for 3,569 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
$51.4K $14.40/SF
− Vacancy
−$3.6K −$1.01/SF
EGI
$47.8K $13.39/SF
− OpEx
−$16.7K −$4.69/SF
NOI
$31.1K $8.70/SF
Area
Chautauqua County, NY
Vacancy
7.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
35.00%
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%
$621,340
Cap Rate 7%
$443,814
Cap Rate 9%
$345,189
Alternative Uses
Best Use
Retail
$625.7K
$547.5K – $730.0K
NOI $43,800 @ 7.0% cap · market cap 10.98%
Second Best
Flex RnD
$443.8K
$388.3K – $517.8K
NOI $31,067 @ 7.0% cap · market cap 7.79%
Theoretical Best
Office A
$1.07M
$934.7K – $1.25M
NOI $74,778 @ 7.0% cap · market cap 18.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
243
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14701, NY
38,428
Population
19,469
Households
2
Avg Household Size
42
Median Age
25%
College-Educated
90%
High-School Grad
92.6 sq mi
ZIP Area
415
Density / Sq Mi
$50,909
Median Household Income
$34,592
Median Earnings
$769
Median Rent
$98,400
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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- Elegant Edibles Catering — 1101 N Main St, Jamestown, NY 14701
Frequently Asked Questions
What type of property is this?
Flex space - Corner flex property with four overhead doors and two levels configured for automotive, contractor, distribution, or mixed-use showroom use.
Where is this flex space located?
The property is located at 1203 N Main Street Jamestown, NY.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 0.4428‑acre corner property at North Main Street and Fluvanna Ave; Two‑story layout with two drive‑in bays upstairs and two drive‑in bays downstairs; Four overhead doors for seamless drive‑through access
