Mixed-Use Property with
For Sale
$380,000
747-745 Erie Blvd W, Rome, NY 13440
First-floor laundromat paired with a two-bedroom apartment supports a combined commercial and residential setup.
Property Size2,400 SF
Price / SF$158.33
Days on Market926
Property Features for 747-745 Erie Blvd W
General Information
Standard status
Active
Size
2,400 SF
Taxes and HOA fees
Annual Taxes
$4,463
Listing Agency:
Miner Realty & Prop Management
(315) 709-4355
Listed By:
Michael J Miner · License #10491208203
(315) 709-4355
Source:
Exprealty
Added: Feb 16, 2024
Changed: Aug 29
Last Checked: Aug 29 at 9:01PM
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 Miner Realty & Prop Management
Investment Insights
Based on property information with market context.
This mixed-use property combines a first-floor laundromat with a residential apartment located within the premises. The commercial component operates under the name Keep Making Suds and includes laundry facilities and machines. The apartment provides two bedrooms and one bathroom, creating a live-work configuration within the same property.
The property is located at 747-745 Erie Blvd W in Rome, New York. Its listed property size is 2,400.
The property is located at 747-745 Erie Blvd W in Rome, New York. Its listed property size is 2,400.
Key Highlights
- First‑floor laundromat operating as Keep Making Suds
- Two‑bedroom, one‑bath apartment on the premises
- Commercial and residential components in one mixed‑use property
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
$28,512
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
7.50%
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%
$570,240
$570.2K
Cap Rate 7%
$407,314
$407.3K
Cap Rate 9%
$316,800
$316.8K
Market Conditions
NOI Build-Up for 2,400 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
$51.8K $21.60/SF
− Vacancy
−$6.2K −$2.59/SF
EGI
$45.6K $19.01/SF
− OpEx
−$17.1K −$7.13/SF
NOI
$28.5K $11.88/SF
Area
Oneida County, NY
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$570,240
Cap Rate 7%
$407,314
Cap Rate 9%
$316,800
Alternative Uses
Best Use
Mixed Use
$407.3K
$356.4K – $475.2K
NOI $28,512 @ 7.0% cap · market cap 7.50%
Second Best
Retail
$344.9K
$301.8K – $402.4K
NOI $24,142 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$632.4K
$553.4K – $737.9K
NOI $44,271 @ 7.0% cap · market cap 11.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
297
Businesses Nearby
Explore this area
Business Placement
Demographics for 13440, NY
41,024
Population
19,286
Households
2.1
Avg Household Size
42
Median Age
23%
College-Educated
88%
High-School Grad
116.5 sq mi
ZIP Area
352
Density / Sq Mi
$65,497
Median Household Income
$43,747
Median Earnings
$863
Median Rent
$155,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - First-floor laundromat paired with a two-bedroom apartment supports a combined commercial and residential setup.
Where is this mixed-use property located?
The property is located at 747-745 Erie Blvd W Rome, NY.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: First‑floor laundromat operating as Keep Making Suds; Two‑bedroom, one‑bath apartment on the premises; Commercial and residential components in one mixed‑use property
