Historic Renovated Barn For
For Sale
$721,999
Pending
101 River Street, Warrensburg, NY 12885
Restored barn with modern amenities, suitable for offices or warehousing.
Property Size5,888 SF
Lot Size0.28 Acres
Days on Market826
Property Features for 101 River Street
General Information
Standard status
Pending
Size
5,888 SF
Lot size
0.28 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,084
Amenities
Central air
Central Air Cooling
Forced Air Heating
Building Details
Year Built
1890
Listing Agency:
KW PLATFORM
(518) 724-5800
Listed By:
ELIZABETH PAGE · License #10401333541
(518) 573-1112
Source:
Corcoran
Added: Jun 5, 2024
Changed: Aug 8
Last Checked: Jul 23 at 7:52AM
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 KW PLATFORM
Investment Insights
Based on property information with market context.
This property is a historic renovated barn structure that has been fully restored and equipped with modern amenities, wood-finish interiors, central air, and security systems. It is ADA compliant and offers a versatile space suitable for corporate offices, warehousing, or commercial ventures. The property has undergone a tremendous number of custom alterations to house corporate offices and a recreation area. It features more than 50 parking spots. The interior is well-suited for continued office use or adaptive reuse of the space, based on zoning. The property includes two adjacent vacant land parcels that are approximately 3 acres, which can be used for parking, building, or other uses. The building could also be converted into residential or shared habitat. The property size is 5888 square feet.
Key Highlights
- Historic renovated barn structure with versatile space.
- Includes two adjacent vacant land parcels (approximately 3 acres) for parking, building, or other uses.
- More than 50 parking spots available.
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
$44,219
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
6.12%
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%
$884,380
$884.4K
Cap Rate 7%
$631,700
$631.7K
Cap Rate 9%
$491,322
$491.3K
Market Conditions
NOI Build-Up for 5,888 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
$55.8K $9.48/SF
− Vacancy
−$3.8K −$0.64/SF
EGI
$52.0K $8.84/SF
− OpEx
−$7.8K −$1.33/SF
NOI
$44.2K $7.51/SF
Area
Warren County, NY
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$884,380
Cap Rate 7%
$631,700
Cap Rate 9%
$491,322
Alternative Uses
Best Use
Office B
$1.30M
$1.14M – $1.52M
NOI $91,146 @ 7.0% cap · market cap 12.62%
Second Best
Warehouse
$631.7K
$552.7K – $737.0K
NOI $44,219 @ 7.0% cap · market cap 6.12%
Theoretical Best
Office A
$1.76M
$1.54M – $2.06M
NOI $123,365 @ 7.0% cap · market cap 17.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
359
Businesses Nearby
Explore this area
Business Placement
Demographics for 12885, NY
4,371
Population
2,724
Households
1.6
Avg Household Size
46
Median Age
17%
College-Educated
84%
High-School Grad
80.3 sq mi
ZIP Area
54
Density / Sq Mi
$65,454
Median Household Income
$49,245
Median Earnings
$1,042
Median Rent
$149,000
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 - Restored barn with modern amenities, suitable for offices or warehousing.
Where is this office building located?
The property is located at 101 River Street Warrensburg, NY.
What is the asking price?
The asking price for this property is $721,999.
What are key features of this property?
This property features: Historic renovated barn structure with versatile space.; Includes two adjacent vacant land parcels (approximately 3 acres) for parking, building, or other uses.; More than 50 parking spots available.
