Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Former Garage with Finished Office Title is generated by Realmo AI

    388 W 1st Street, Oswego, NY 13126

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $325,000 SF/Yr $44,470,833/Mo (calc)

    Two-bay garage with office and ample parking for rent.

    Type:Rental
    Property size:
    1,642 SF
    Lot size:
    0.28 Acres
    Added:
    Dec 16, 2024
    Days on Market:
    522
    Last Refresh:
    May 20 at 2:46 am

    Property Features for 388 W 1st Street

    General Information

    Standard status
    Active
    Size
    1,642 SF
    Lot size
    0.28 Acres
    Property subtype
    Rental

    Building Details

    Year Built
    1955

    We can help!

    Listing Contact
    William R Galloway
    William R Galloway

    Listing agent William R Galloway License #31GA0866669

    Listing office Century 21 Galloway Realty

    Listing date Dec 16, 2024

    Source Exitrealty

    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 Century 21 Galloway Realty

    HighLights

    • Excellent location for business
    • Fully paved corner lot with ample parking
    • Stand‑alone building
    • Former 2‑bay garage, inform
    • Finished office with full bath
    • Additional storage room inform

    Overview

    This stand-alone building, formerly a two-bay garage, features a finished office with a full bath. Situated on a corner lot, the property is fully paved, providing ample parking space. An additional room behind the garage offers storage capabilities. The property is suitable for commercial use.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Glider Oil Co ... Big Box & Wholesale Store The Oz Bait and Tackle ... (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Similar Places Nearby

    • Trustworthy Auto Body Shop in Oswego, NY — 428 W 1st St, Oswego, NY 13126
    • Port City Collision — 428 W 1st St, Oswego, NY 13126
    • Port City Car Care — 20 Ohio St, Oswego, NY 13126
    • Burritt Motors — 410 w 1st st, oswego, ny 13126
    • Scotty's Towing & Road Service INC — 500 W 1st St, Oswego, NY 13126

    Location Insight

    • Map
    • Local Demand
    City
    Oswego
    County
    Oswego
    State
    New York
    Longitude
    -76.5067866
    Latitude
    43.4488252

    Nearby Similar for Lease

    • $1,795/Mo
      1,050 SF

      Oswego Office/Medical Space for Lease

      Professional office or medical space for lease in Oswego, NY.
      50 W Utica Street, Oswego, NY 13126
      View Details
    • $1,300/Mo
      675 SF

      Downtown Oswego Office Space Available

      Well-maintained office building in downtown Oswego with parking.
      55 W Second Street, Oswego, NY 13126
      View Details
    • $1,795/Mo
      1,050 SF

      Oswego Office/Medical Space For Lease

      Professional/Medical office space for lease in Oswego, NY.
      50 W Utica St, Oswego, NY 13126
      View Details
    • $1,300/Mo
      680 SF

      Downtown Oswego Office Space Available

      Well-maintained office building in downtown Oswego, approximately 680 sqft units.
      55 West Second St, Oswego, NY 13126
      View Details
    • $2,500/Mo

      Professional Office Space For Rent

      Well-maintained office space suitable for various professional uses.
      218 W 8th St, Oswego, NY 13126
      View Details
    • $8 SF/Yr
      1,745 SF

      Former Chiropractor Space Available

      1,745 SF former chiropractor space suitable for medical or office use.
      11 4th Ave, Oswego, NY 13126
      View Details
    • Contact for pricing
      980 SF

      Retail Space in Lifestyle Center

      980 SF retail space suitable for various businesses.
      250 W Seneca St, Oswego, NY 13126
      View Details
    • Contact for pricing
      1,545 SF

      Versatile Open Space Available

      1,545 SF open space suitable for various businesses.
      11 4th Ave, Oswego, NY 13126
      View Details
    • Contact for pricing

      Retail, Office

      53 E 3rd St, Oswego, NY 13126
      View Details
    • Contact for pricing
      6,000 SF

      Retail Space in Oswego, NY

      6,000 SF retail space available for lease.
      359 State Route 104, Oswego, NY
      View Details

    FAQs

    What type of property is this?
    Auto shop - Two-bay garage with office and ample parking for rent.
    Where is this auto shop located?
    The property is located at 388 W 1st Street Oswego, NY.
    What is the lease rate?
    The lease rate is $325,000.
    What are key features of this property?
    This property features: Excellent location for business; Fully paved corner lot with ample parking; Stand‑alone building
    (315) 342-2111
    We can help!
    Listing Contact
    William R Galloway
    William R Galloway
    Real Estate License ID: 31GA0866669
    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

    Thank You for Inquiry
    388 W 1st Street, Oswego, NY 13126
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!