Freestanding Office/Warehouse Facility For
For Sale
Contact for pricing
138 Sicker Rd, Latham, NY 12110
27,698 SF office/warehouse with loading docks and fenced yard.
Property Size27,698 SF
Lot Size2.00 Acres
Price / SF$148.03
Days on Market110
Property Features for 138 Sicker Rd
General Information
Standard status
Active
Size
27,698 SF
Lot size
2.00 Acres
Property subtype
INDUSTRIAL
Listing Agency:
CBRE | Albany
(518) 281-4497
Listed By:
Tom Savino · License #30SA0815314
Source:
Moodyscre
Added: May 5
Changed: Aug 22
Last Checked: Aug 22 at 1:20PM
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 | Albany
Investment Insights
Based on property information with market context.
This freestanding office/warehouse facility offers approximately 27,698 square feet of space on a site of approximately 2 acres. The building includes approximately 9,205 square feet of office space and approximately 18,493 square feet of warehouse space. The warehouse features ceiling heights of approximately 14 to 16 feet. Loading and access are facilitated by two 10’ x 10’ loading docks, four 12’ x 14’ overhead doors at grade, one 8’ x 10’ overhead door at grade, and one additional 10’ x 10’ overhead door at grade. The property also includes a fenced yard with outside storage. The electrical service is 400 amp/208 volt. The warehouse is equipped with two two-ton cranes.
Key Highlights
- Freestanding office/warehouse facility totaling ±27,698 SF.
- Large ±2 acre site with fenced yard and outside storage.
- Substantial warehouse space of ±18,493 SF.
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
$315,970
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
7.71%
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%
$6,319,400
$6.3M
Cap Rate 7%
$4,513,857
$4.5M
Cap Rate 9%
$3,510,778
$3.5M
Market Conditions
NOI Build-Up for 27,698 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
$398.9K $14.40/SF
− Vacancy
−$27.1K −$0.98/SF
EGI
$371.7K $13.42/SF
− OpEx
−$55.8K −$2.01/SF
NOI
$316.0K $11.41/SF
Area
Albany County, NY
Vacancy
6.80%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
15.00%
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%
$6,319,400
Cap Rate 7%
$4,513,857
Cap Rate 9%
$3,510,778
Alternative Uses
Best Use
Warehouse
$4.51M
$3.95M – $5.27M
NOI $315,970 @ 7.0% cap · market cap 7.71%
Second Best
Industrial
$3.72M
$3.25M – $4.34M
NOI $260,211 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$8.64M
$7.56M – $10.08M
NOI $605,009 @ 7.0% cap · market cap 14.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
143
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12110, NY
19,682
Population
8,269
Households
2.4
Avg Household Size
44
Median Age
46%
College-Educated
93%
High-School Grad
14.3 sq mi
ZIP Area
1,376
Density / Sq Mi
$101,839
Median Household Income
$53,658
Median Earnings
$1,431
Median Rent
$306,100
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- A Metro Self Storage — 889 Troy-Schenectady Rd, Latham, NY 12110
- Room To Spare Storage — 151 Wade Rd, Latham, NY 12110
Frequently Asked Questions
What type of property is this?
Warehouse - 27,698 SF office/warehouse with loading docks and fenced yard.
Where is this warehouse located?
The property is located at 138 Sicker Rd Latham, NY.
What is the asking price?
The asking price for this property is $4,100,000.
What are key features of this property?
This property features: Freestanding office/warehouse facility totaling ±27,698 SF.; Large ±2 acre site with fenced yard and outside storage.; Substantial warehouse space of ±18,493 SF.
