Warehouse Property with Paved
For Sale
$499,999
15 Pasco Avenue, Queensbury, NY 12804
COMMERCIAL - Queensberry, NY
Property Size3,300 SF
Lot Size10.21 Acres
Price / SF$151.51
Days on Market1031
Property Features for 15 Pasco Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
High school district
Queensberry
Standard status
Active
Lot size
10.21 Acres
Taxes and HOA fees
Tax Annual Amount
8990
Utilities
Heating system
Natural Gas
Building Details
Year built
1950
Listing Agency:
EXP REALTY
(888) 276-0630
Listed By:
Wayne Hartard · License #10301219674
Added: Oct 25, 2023
Changed: Aug 4
Last Checked: Aug 20 at 4:06AM
MLS# 11216183
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This warehouse property at 15 Pasco Avenue includes a recently constructed 3,300-square-foot building positioned on 10.21 acres. The structure is suited to business, storage, or warehouse use, while the surrounding grounds provide paved parking and room for 500+ vehicles. Natural gas heating serves the property.
The site is located in Queensberry, NY 12804, within Warren County. Its established prior use as a salvage yard is part of the property’s operating history, while the combination of enclosed building space and substantial outdoor vehicle capacity supports a range of commercial configurations.
The site is located in Queensberry, NY 12804, within Warren County. Its established prior use as a salvage yard is part of the property’s operating history, while the combination of enclosed building space and substantial outdoor vehicle capacity supports a range of commercial configurations.
Key Highlights
- 10.21‑acre commercial property in Queensberry, NY
- Recently constructed 3,300‑square‑foot building
- Building suited for business, storage, or warehouse use
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
$24,783
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
4.96%
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%
$495,660
$495.7K
Cap Rate 7%
$354,043
$354.0K
Cap Rate 9%
$275,367
$275.4K
Market Conditions
NOI Build-Up for 3,300 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
$31.3K $9.48/SF
− Vacancy
−$2.1K −$0.64/SF
EGI
$29.2K $8.84/SF
− OpEx
−$4.4K −$1.33/SF
NOI
$24.8K $7.51/SF
Area
Warren 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%
$495,660
Cap Rate 7%
$354,043
Cap Rate 9%
$275,367
Alternative Uses
Best Use
Warehouse
$354.0K
$309.8K – $413.1K
NOI $24,783 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$987.7K
$864.3K – $1.15M
NOI $69,142 @ 7.0% cap · market cap 13.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
29
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12804, NY
27,790
Population
13,287
Households
2.1
Avg Household Size
47
Median Age
39%
College-Educated
94%
High-School Grad
54.7 sq mi
ZIP Area
508
Density / Sq Mi
$90,074
Median Household Income
$50,368
Median Earnings
$1,209
Median Rent
$284,400
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Warehouse - Large commercial grounds include a recently constructed building suited to storage, warehouse, or business operations.
Where is this warehouse located?
The property is located at 15 Pasco Avenue Queensbury, NY.
What is the asking price?
The asking price for this property is $499,999.
What are key features of this property?
This property features: 10.21‑acre commercial property in Queensberry, NY; Recently constructed 3,300‑square‑foot building; Building suited for business, storage, or warehouse use
