Flex Building With Overhead
For Sale
$299,000
16 MARKET ST, Schenectady, NY 12302
Industrial-zoned facility with office space, truck access, exterior yard area, and updated building systems.
Property Size1,394 SF
Price / SF$214.49
Days on Market12
Property Features for 16 MARKET ST
General Information
Standard status
Active
Size
1,394 SF
Property subtype
Mixed Use
Taxes and HOA fees
Annual Taxes
$3,871
Amenities
private office
two bathrooms
WiFi
security system
overhead doors
440 electrical service
Window Air Conditioning
3
Concrete
Rubber
10 Parking Spaces. Paved Driveway.
240 x 175
Clear lot.
Building Details
Year Built
1955
Listing Agency:
KW Platform
(518) 405-6888
Listed By:
Christopher Iwinski · License #10401237144
(518) 405-6888
Source:
Xome
Added: Aug 19
Changed: Aug 28
Last Checked: Aug 29 at 6:26AM
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 KW Platform
Investment Insights
Based on property information with market context.
Built in 1955, this flex property combines a substantial work area with a private office and two bathrooms. Two 14-foot overhead doors support access for trucks, trailers, and equipment, while 440 electrical service accommodates commercial and industrial operations. The building also includes WiFi and a security system.
Recent improvements include a new gas furnace, new windows, and a new roof. Exterior parking and yard space provide room for vehicles, equipment, and maneuvering. Located on Market Street in Scotia, the property is zoned Industrial and offers a practical configuration for contractor, service, storage, and other commercial users.
Recent improvements include a new gas furnace, new windows, and a new roof. Exterior parking and yard space provide room for vehicles, equipment, and maneuvering. Located on Market Street in Scotia, the property is zoned Industrial and offers a practical configuration for contractor, service, storage, and other commercial users.
Key Highlights
- Two 14‑foot overhead doors provide access for trucks, trailers, and equipment
- 440 electrical service
- Private office and two bathrooms
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
$10,469
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
3.50%
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%
$209,380
$209.4K
Cap Rate 7%
$149,557
$149.6K
Cap Rate 9%
$116,322
$116.3K
Market Conditions
NOI Build-Up for 1,394 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
$13.2K $9.48/SF
− Vacancy
−$899 −$0.64/SF
EGI
$12.3K $8.84/SF
− OpEx
−$1.8K −$1.33/SF
NOI
$10.5K $7.51/SF
Area
Schenectady 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%
$209,380
Cap Rate 7%
$149,557
Cap Rate 9%
$116,322
Alternative Uses
Best Use
Warehouse
$149.6K
$130.9K – $174.5K
NOI $10,469 @ 7.0% cap · market cap 3.50%
Second Best
Industrial
$123.2K
$107.8K – $143.7K
NOI $8,622 @ 7.0% cap · market cap 2.88%
Theoretical Best
Office A
$417.2K
$365.1K – $486.8K
NOI $29,207 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
161
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12302, NY
27,618
Population
12,406
Households
2.2
Avg Household Size
45
Median Age
42%
College-Educated
95%
High-School Grad
43.3 sq mi
ZIP Area
638
Density / Sq Mi
$94,156
Median Household Income
$55,305
Median Earnings
$1,207
Median Rent
$240,700
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?
Flex space - Industrial-zoned facility with office space, truck access, exterior yard area, and updated building systems.
Where is this flex space located?
The property is located at 16 MARKET ST Schenectady, NY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two 14‑foot overhead doors provide access for trucks, trailers, and equipment; 440 electrical service; Private office and two bathrooms
