Listing Agency: CBRE UPSTATE NY Show Phone

Listed By: DANIEL L SIMPSON

Source: Corcoran

Added: Jun 3 Changed: Aug 21 Last Checked: Aug 21 at 8:26AM

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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 CBRE UPSTATE NY

Investment Insights

Based on property information with market context.

This well maintained professional office building offers 3,952 SF of office space configured to support daily business operations. The property includes a private shower on the first floor, adding practical amenity value for an on-site workforce. A natural gas generator is also on site and is described as capable of powering the whole building.

The building is located at a signalized intersection on New Scotland Road in Bethlehem, NY. It is positioned for easy wayfinding and access, with ample parking provided on site, including 20 spaces. The property is situated in Hamlet zoning for the Town of Bethlehem.

For an office user, this asset offers a recognizable, easily accessed location combined with useful on-site amenities and backup power. The parking capacity supports convenient arrival for employees and visitors, while the generator adds continuity for day-to-day operations. Its size and office-focused improvements make it well suited for professional teams seeking a turn-key property for continued occupancy or acquisition as a dedicated office facility.

Key Highlights

• 3,952 SF professional office building on New Scotland Road at a signalized intersection
• Ample on‑site parking with 20 spaces for client and staff access
• Natural gas generator can power the whole building

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

$61,035

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

8.73%

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%

$1,220,700 $1.2M

Cap Rate 7%

$871,929 $871.9K

Cap Rate 9%

$678,167 $678.2K

Market Conditions

NOI Build-Up for 3,952 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

$104.3K $26.40/SF

− Vacancy

−$23.0K −$5.81/SF

EGI

$81.4K $20.59/SF

− OpEx

−$20.3K −$5.15/SF

NOI

$61.0K $15.44/SF

Area

Albany County, NY

Vacancy

22.00%

Lease Rate

$26.40 /SF/Yr

Expense Ratio

25.00%

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%

$1,220,700

Cap Rate 7%

$871,929

Cap Rate 9%

$678,167

Alternative Uses

Best Use

Office B

$871.9K

$762.9K – $1.02M (±1% cap)

NOI $61,035 @ 7.0% cap · market cap 8.73%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.23M

$1.08M – $1.44M (±1% cap)

NOI $86,324 @ 7.0% cap · market cap 12.35%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Office buildings

Suggested Use

Top Pick Dental Office Restaurant Spa & Massage Center Hair Salon Parking Lot & Garage Pharmacy

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

261

Businesses Nearby

Explore this area Business Placement

Demographics for 12159, NY

8,524

Population

3,980

Households

2.1

Avg Household Size

47

Median Age

65%

College-Educated

97%

High-School Grad

15.1 sq mi

ZIP Area

565

Density / Sq Mi

$109,073

Median Household Income

$63,604

Median Earnings

$1,632

Median Rent

$430,800

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Office building - Well-appointed office building at a signalized intersection with ample on-site parking for convenient client and staff access.

Where is this office building located?

The property is located at 1280 New Scotland Road Bethlehem, NY.

What is the asking price?

The asking price for this property is $699,000.

What are key features of this property?

This property features: 3,952 SF professional office building on New Scotland Road at a signalized intersection; Ample on‑site parking with 20 spaces for client and staff access; Natural gas generator can power the whole building