Amish-Built Garage with
For Sale
$209,500
Pending
144 State Highway 29a, Gloversville, NY 12078
A maintained mixed-use property with a 36' x 60' garage, overhead doors, utilities, and heated space for flexible operations.
Property Size2,160 SF
Lot Size1.37 Acres
Days on Market58
Property Features for 144 State Highway 29a
General Information
Standard status
Pending
Size
2,160 SF
Lot size
1.37 Acres
Property subtype
Residential
Zoning
Mixed Use 1
Additional Details
Utilities to Site
Yes
Drive-In Doors
2
Taxes and HOA fees
Annual Taxes
$1,655
Listing Agency:
Howard Hanna Capital Inc
(518) 423-2502
Listed By:
Katrina F Ruberti
(518) 423-2502
Source:
Exprealty
Added: Jun 24
Changed: Aug 20
Last Checked: Aug 20 at 1:19PM
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 Howard Hanna Capital Inc
Investment Insights
Based on property information with market context.
This beautifully maintained 1.37-acre property includes a substantial Amish-built 36' x 60' garage/workshop building designed for practical storage and use. The structure is equipped with 10' high by 12' wide automatic overhead doors on both ends, providing drive-through access. Attached to the building is a functional kitchen area with a sink, water, electric, and appliances. A fully insulated and heated room currently used as a bedroom adds an indoor option that could serve as an office or reception area. Outdoor amenities include a covered patio with optional side enclosures, plus a second open patio with a fire pit. A separate outbuilding with a working toilet and sink is also on-site.
The property is improved with a drilled well, septic system, and electric service to support on-site utility needs. Two dedicated 50 amp electric hookups are available for camper trailers or fifth wheels, adding practicality for seasonal hosting. The site is described as zoned Mixed Use 1, with certain commercial uses potentially available subject to municipal approvals and zoning regulations.
This setup can work well for operators needing enclosed storage and convenient access, including landscapers, hardscape providers, general contractors, or hobby and workshop use. The additional heated room and kitchen support day-to-day work needs, while the outdoor patio areas provide space for meetings or hosting as permitted by use and zoning requirements.
The property is improved with a drilled well, septic system, and electric service to support on-site utility needs. Two dedicated 50 amp electric hookups are available for camper trailers or fifth wheels, adding practicality for seasonal hosting. The site is described as zoned Mixed Use 1, with certain commercial uses potentially available subject to municipal approvals and zoning regulations.
This setup can work well for operators needing enclosed storage and convenient access, including landscapers, hardscape providers, general contractors, or hobby and workshop use. The additional heated room and kitchen support day-to-day work needs, while the outdoor patio areas provide space for meetings or hosting as permitted by use and zoning requirements.
Key Highlights
- 1.37‑acre mixed‑use property with a drilled well, septic system, and electric service
- Amish‑built 36' x 60' garage/building with 10' high x 12' wide automatic overhead doors on both ends
- Garage/building includes a functional attached kitchen area with sink, water, electric, and appliances
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
$16,222
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
7.74%
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%
$324,440
$324.4K
Cap Rate 7%
$231,743
$231.7K
Cap Rate 9%
$180,244
$180.2K
Market Conditions
NOI Build-Up for 2,160 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
$20.5K $9.48/SF
− Vacancy
−$1.4K −$0.64/SF
EGI
$19.1K $8.84/SF
− OpEx
−$2.9K −$1.33/SF
NOI
$16.2K $7.51/SF
Area
Fulton County, NY
Vacancy
6.80%
Lease Rate
$9.48 /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%
$324,440
Cap Rate 7%
$231,743
Cap Rate 9%
$180,244
Alternative Uses
Best Use
Warehouse
$231.7K
$202.8K – $270.4K
NOI $16,222 @ 7.0% cap · market cap 7.74%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.49M
$1.31M – $1.74M
NOI $104,527 @ 7.0% cap · market cap 49.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12078, NY
23,009
Population
11,668
Households
2
Avg Household Size
44
Median Age
18%
College-Educated
87%
High-School Grad
110.8 sq mi
ZIP Area
208
Density / Sq Mi
$54,565
Median Household Income
$36,769
Median Earnings
$908
Median Rent
$122,400
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Strategic Storage LLC — 356 County Hwy 155, Gloversville, NY 12078
Frequently Asked Questions
What type of property is this?
Warehouse - A maintained mixed-use property with a 36' x 60' garage, overhead doors, utilities, and heated space for flexible operations.
Where is this warehouse located?
The property is located at 144 State Highway 29a Gloversville, NY.
What is the asking price?
The asking price for this property is $209,500.
What are key features of this property?
This property features: 1.37‑acre mixed‑use property with a drilled well, septic system, and electric service; Amish‑built 36' x 60' garage/building with 10' high x 12' wide automatic overhead doors on both ends; Garage/building includes a functional attached kitchen area with sink, water, electric, and appliances
