Building Details

Building Size 4,860 SF

Year Built 2005

Year Renovated 2018

Buildings 3

Stories 1

Units 3

Listing Agency: Berkshire Hathaway Home Services CNY m***@msn.com Show Phone

Listed By: Matthew G. Pryputniewicz · License #40PR0919917 Show Phone

Source: Homeprocny

Added: Apr 14, 2023 Changed: Aug 7 Last Checked: Aug 7 at 4:01AM

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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 Berkshire Hathaway Home Services CNY

Investment Insights

Based on property information with market context.

This commercial car wash property includes two tax parcels and a coordinated group of paved improvements. The front parcel contains a 1,440-square-foot wash building with two manual bays, additional room for a bay, vacuum equipment, trash collection, a concrete floor, and radiant heat intended to reduce ice buildup. The car wash was constructed in 2005 and occupies 0.91 acres of paved surface.

The adjoining 1.76-acre parcel includes a 1,500-square-foot office building/apartment with garage, renovated in 2018, plus a 30-by-60-foot building completed in 2003 with two car lifts. A 10-by-12-foot storage shed is also included. Paved parking and driveways serve the property, while the second parcel extends approximately 500 feet to the rear and includes a 60-foot R.O.W. contributing to 243 feet of road frontage on River Road. The property is zoned Com1/Res1, Commercial, and is located at 9809 River Road in Marcy, NY.

Key Highlights

• 1,440‑square‑foot car wash with 2 manual bays and room for an additional bay
• Front parcel contains 0.91 acres of paved surface
• Second parcel adds 1.76 acres and extends approximately 500 feet to the rear

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

$55,978

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

8.05%

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%

$1,119,560 $1.1M

Cap Rate 7%

$799,686 $799.7K

Cap Rate 9%

$621,978 $622.0K

Market Conditions

NOI Build-Up for 4,860 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

$78.7K $16.20/SF

− Vacancy

−$4.1K −$0.84/SF

EGI

$74.6K $15.36/SF

− OpEx

−$18.7K −$3.84/SF

NOI

$56.0K $11.52/SF

Area

Oneida County, NY

Vacancy

5.20%

Lease Rate

$16.20 /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%

$1,119,560

Cap Rate 7%

$799,686

Cap Rate 9%

$621,978

Alternative Uses

Best Use

Specialty Retail

$799.7K

$699.7K – $933.0K (±1% cap)

NOI $55,978 @ 7.0% cap · market cap 8.05%

Second Best

Retail

$698.4K

$611.1K – $814.8K (±1% cap)

NOI $48,887 @ 7.0% cap · market cap 7.03%

Theoretical Best

Office A

$1.28M

$1.12M – $1.49M (±1% cap)

NOI $89,650 @ 7.0% cap · market cap 12.90%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Drillbrush (Bike/Boat/Book/etc) Store Useful Products LLC Marketing & Advertising

Suggested Use

Top Pick Real Estate Agency Law Firm Electrical Service Auto Parts Store Plumbing Service Grocery & Convenience Store

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

Lease Details

2

Service bays

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

118

Businesses Nearby

291

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Autopart International Shops & Services

291 visits/mo 0.3 miles

Demographics for 13403, NY

6,844

Population

2,082

Households

3.3

Avg Household Size

40

Median Age

19%

College-Educated

79%

High-School Grad

27.8 sq mi

ZIP Area

246

Density / Sq Mi

$100,060

Median Household Income

$55,885

Median Earnings

$1,209

Median Rent

$207,700

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Car wash - Paved manual-wash facility with vacuum stations, an office apartment, garage, and additional automotive service improvements.

Where is this car wash located?

The property is located at 9809 River Road Marcy, NY.

What is the asking price?

The asking price for this property is $695,000.

What are key features of this property?

This property features: 1,440‑square‑foot car wash with 2 manual bays and room for an additional bay; Front parcel contains 0.91 acres of paved surface; Second parcel adds 1.76 acres and extends approximately 500 feet to the rear