Utica Investment Opportunity For
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1425 Lincoln Ave, Utica, NY 13502
Modified gross investment opportunity with a 10-year lease.
Property Size15,060 SF
Price / SF$119.19
Days on Market158
Property Features for 1425 Lincoln Ave
General Information
Standard status
Active
Size
15,060 SF
Property subtype
Retail
Zoning
Industrial
Listing Agency:
Pavia Real Estate
(315) 269-4081
Listed By:
John Jweid · License #NY 10301208997
Source:
Crexi
Added: Mar 10
Changed: Aug 13
Last Checked: Aug 13 at 3:16PM
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 Pavia Real Estate
Investment Insights
Based on property information with market context.
This commercial property in Utica, New York, presents a modified gross investment opportunity. The property is currently leased to Caliber Collision under a 10-year lease that commenced in 2021, with options for two five-year renewals. The site benefits from access on Lincoln Avenue, featuring approximately 272 feet of road frontage. Signage is visible on Route 12, which experiences a traffic volume of approximately 36,000 vehicles per day. The property is suitable for auto shops, automotive purposes, retail, NNN properties, and specialty purposes. The property size is 15,060 square feet.
Key Highlights
- 10‑year lease commenced in 2021 provides stable, long‑term income.
- Modified gross lease structure.
- High traffic location on Route 12 with 36,000 ± vehicles per day.**
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
$151,489
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
8.44%
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%
$3,029,780
$3.0M
Cap Rate 7%
$2,164,129
$2.2M
Cap Rate 9%
$1,683,211
$1.7M
Market Conditions
NOI Build-Up for 15,060 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
$225.9K $15.00/SF
− Vacancy
−$9.5K −$0.63/SF
EGI
$216.4K $14.37/SF
− OpEx
−$64.9K −$4.31/SF
NOI
$151.5K $10.06/SF
Area
Oneida County, NY
Vacancy
4.20%
Lease Rate
$15.00 /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%
$3,029,780
Cap Rate 7%
$2,164,129
Cap Rate 9%
$1,683,211
Alternative Uses
Best Use
Retail
$2.16M
$1.89M – $2.52M
NOI $151,489 @ 7.0% cap · market cap 8.44%
Second Best
Industrial
$1.33M
$1.16M – $1.55M
NOI $93,142 @ 7.0% cap · market cap 5.19%
Theoretical Best
Office A
$3.97M
$3.47M – $4.63M
NOI $277,803 @ 7.0% cap · market cap 15.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,601
Businesses Nearby
33k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 58%
Shops & Services 42%
Dunkin' Donuts
Dining
12,006 visits/mo
0.5 miles
NBT Bank
Shops & Services
5,079 visits/mo
0.2 miles
Dunkin' Donuts
Dining
4,921 visits/mo
0.3 miles
Family Dollar
Shops & Services
3,860 visits/mo
0.4 miles
M&T Bank
Shops & Services
3,464 visits/mo
0.4 miles
Demographics for 13502, NY
33,990
Population
15,337
Households
2.2
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
51.4 sq mi
ZIP Area
661
Density / Sq Mi
$59,530
Median Household Income
$36,927
Median Earnings
$965
Median Rent
$149,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Kingsley's Automotive — 2017 Sunset Ave, Utica, NY 13502
- Bohling's Auto Services — 301 James St, Utica, NY 13501
- Tallman's Tire & Auto Repair — 1719 Genesee St, Utica, NY 13501
- Mavis Discount Tire — 2020 Genesee St, Utica, NY 13502
- Cole Muffle & Brake — Utica, NY 13502
Frequently Asked Questions
What type of property is this?
Auto shop - Modified gross investment opportunity with a 10-year lease.
Where is this auto shop located?
The property is located at 1425 Lincoln Ave Utica, NY.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: 10‑year lease commenced in 2021 provides stable, long‑term income.; Modified gross lease structure.; High traffic location on Route 12 with 36,000 ± vehicles per day.**
