Versatile Commercial Property in
For Sale
$388,000
122 1st Avenue, Waterford, NY 12188
Adaptable commercial space with parking and multiple overhead doors.
Property Size4,287 SF
Price / SF$90.51
Days on Market158
Property Features for 122 1st Avenue
General Information
Standard status
Active
Size
4,287 SF
Property subtype
Office
Building Details
Building Size
4,287 SF
Listing Agency:
Pyramidbrokerage
Listed By:
Pyramid Brokerage Albany
(518) 489-9199
Source:
Pyramidbrokerage
Added: Apr 1
Changed: Sep 3
Last Checked: Sep 4 at 2:04AM
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 Pyramidbrokerage
Investment Insights
Based on property information with market context.
This 4,287-square-foot commercial property is currently home to the Waterford Emergency Team. The rear parking lot is paved. The building features two 12-foot overhead doors and one 8-foot overhead door at grade. The shop and main area are equipped with two new heaters, and the main area is air-conditioned. Interior features include VAT flooring, drop ceilings, and recessed lighting. The property includes three meeting areas with a bar, two bathrooms (one with a shower), a kitchen, and a small upstairs storage office. The deep garage has 14-foot ceilings throughout. The garage section has a steel roof, while the main area has a flat roof. The current use is non-conforming. The property is zoned Residential and is subject to governmental approvals.
Key Highlights
- Deep garage with two 12' and one 8' overhead doors.
- Air‑conditioned main area and 2 new heaters.
- 14' ceilings throughout.**
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
$26,514
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
6.83%
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%
$530,280
$530.3K
Cap Rate 7%
$378,771
$378.8K
Cap Rate 9%
$294,600
$294.6K
Market Conditions
NOI Build-Up for 4,287 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
$40.6K $9.48/SF
− Vacancy
−$2.8K −$0.64/SF
EGI
$37.9K $8.84/SF
− OpEx
−$11.4K −$2.65/SF
NOI
$26.5K $6.18/SF
Area
Saratoga County, NY
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
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%
$530,280
Cap Rate 7%
$378,771
Cap Rate 9%
$294,600
Alternative Uses
Best Use
Flex RnD
$888.5K
$777.5K – $1.04M
NOI $62,196 @ 7.0% cap · market cap 16.03%
Second Best
Office B
$828.4K
$724.9K – $966.5K
NOI $57,990 @ 7.0% cap · market cap 14.95%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,821 @ 7.0% cap · market cap 23.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
121
Businesses Nearby
Explore this area
Business Placement
Demographics for 12188, NY
11,035
Population
5,197
Households
2.1
Avg Household Size
43
Median Age
32%
College-Educated
94%
High-School Grad
13.0 sq mi
ZIP Area
849
Density / Sq Mi
$87,212
Median Household Income
$46,738
Median Earnings
$1,097
Median Rent
$278,100
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 units - Adaptable commercial space with parking and multiple overhead doors.
Where is this office units located?
The property is located at 122 1st Avenue Waterford, NY.
What is the asking price?
The asking price for this property is $388,000.
What are key features of this property?
This property features: Deep garage with **two 12' and one 8' overhead doors**.; Air‑conditioned main area and 2 new heaters.; 14' ceilings throughout.**
