For Sale
$499,999
15 Pasco Avenue, Queensbury, NY 12804
Warehouses
Property Size3,300 SF
Lot Size10.21 Acres
Price / SF$151.51
Days on Market297
Property Features for 15 Pasco Avenue
General Information
Standard status
Active
Size
3,300 SF
Lot size
10.21 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,990
Amenities
Metal Roof
Workshop in Garage
Accessible Approach with Ramp
Detached
Forced Air Heating
Garage Door Opener
Natural Gas Heating
Paved
Private
Building Details
Year Built
2003
Listing Agency:
EXP REALTY
(888) 276-0630
Listed By:
WAYNE HARTARD · License #10301219674
Source:
Corcoran
Added: Oct 29, 2025
Changed: Aug 21
Last Checked: Aug 21 at 8:09AM
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 EXP REALTY
Investment Insights
Based on property information with market context.
Key Highlights
- Large 10.21‑acre property suitable for various business ventures.
- Newly built 3,300 sq ft building ideal for business, storage, or warehouse use.**
- Paved parking with space for 500+ vehicles.**
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
$31,878
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
6.38%
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%
$637,560
$637.6K
Cap Rate 7%
$455,400
$455.4K
Cap Rate 9%
$354,200
$354.2K
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
$49.5K $15.00/SF
− Vacancy
−$4.0K −$1.20/SF
EGI
$45.5K $13.80/SF
− OpEx
−$13.7K −$4.14/SF
NOI
$31.9K $9.66/SF
Area
Warren County, NY
Vacancy
8.00%
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%
$637,560
Cap Rate 7%
$455,400
Cap Rate 9%
$354,200
Alternative Uses
Best Use
Retail
$455.4K
$398.5K – $531.3K
NOI $31,878 @ 7.0% cap · market cap 6.38%
Second Best
Warehouse
$354.0K
$309.8K – $413.1K
NOI $24,783 @ 7.0% cap · market cap 4.96%
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
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: Large 10.21‑acre property suitable for various business ventures.; Newly built 3,300 sq ft building ideal for business, storage, or warehouse use.**; Paved parking with space for 500+ vehicles.**
