Office Building With Private
For Sale
Contact for pricing
15 Irving Ave, Granville, NY 12832
Finished professional space includes reception, waiting, and two bathrooms.
Property Size2,576 SF
Lot Size0.36 Acres
Price / SF$193.32
Days on Market186
Property Features for 15 Irving Ave
General Information
Standard status
Active
Size
2,576 SF
Lot size
0.36 Acres
Property subtype
Office
Additional Details
Floor
Main Level
Utilities to Site
Yes
Amenities
central air conditioning
Generac generator
Building Details
Buildings
1
Building Size
2,576 SF
Tenancy
Single
Listing Agency:
Carrow Real Estate Services
(518) 788-7206
Listed By:
Amber Hensley · License #NY
Source:
Crexi
Added: Feb 26
Changed: Aug 30
Last Checked: Aug 30 at 7:38PM
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 Carrow Real Estate Services
Investment Insights
Based on property information with market context.
This office building provides 1,288 SF of finished main-level space on a 0.36-acre double lot. The layout includes a waiting room with reception area, six private offices, and two bathrooms, supporting a range of professional service operations. A full unfinished basement adds another 1,288 square feet for storage or additional buildout.
The property is served by municipal water and sewer and includes central air conditioning. A Generac generator is also installed. Located at 15 Irving Ave in Granville, NY, the building combines dedicated office rooms with supporting utility and storage areas.
The property is served by municipal water and sewer and includes central air conditioning. A Generac generator is also installed. Located at 15 Irving Ave in Granville, NY, the building combines dedicated office rooms with supporting utility and storage areas.
Key Highlights
- 1,288 SF of finished main‑level office space
- Six private offices with waiting room and reception area
- Full unfinished basement adds 1,288 square feet
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
$16,620
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
6.67%
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%
$332,400
$332.4K
Cap Rate 7%
$237,429
$237.4K
Cap Rate 9%
$184,667
$184.7K
Market Conditions
NOI Build-Up for 1,288 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
$28.6K $22.20/SF
− Vacancy
−$6.4K −$5.00/SF
EGI
$22.2K $17.21/SF
− OpEx
−$5.5K −$4.30/SF
NOI
$16.6K $12.90/SF
Area
Washington County, NY
Vacancy
22.50%
Lease Rate
$22.20 /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%
$332,400
Cap Rate 7%
$237,429
Cap Rate 9%
$184,667
Alternative Uses
Best Use
Office B
$237.4K
$207.8K – $277.0K
NOI $16,620 @ 7.0% cap · market cap 6.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$319.5K
$279.6K – $372.8K
NOI $22,368 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
Explore this area
Business Placement
Demographics for 12832, NY
6,559
Population
3,136
Households
2.1
Avg Household Size
47
Median Age
19%
College-Educated
89%
High-School Grad
79.0 sq mi
ZIP Area
83
Density / Sq Mi
$66,415
Median Household Income
$39,343
Median Earnings
$705
Median Rent
$155,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Finished professional space includes reception, waiting, and two bathrooms.
Where is this office building located?
The property is located at 15 Irving Ave Granville, NY.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 1,288 SF of finished main‑level office space; Six private offices with waiting room and reception area; Full unfinished basement adds 1,288 square feet
