Flex Space with Overhead
For Sale
$299,000
16 Market Street, Scotia, NY 12302
Commercial Sale, Scotia, NY
Property Size1,394 SF
Lot Size0.96 Acres
Price / SF$214.49
Days on Market10
Property Features for 16 Market Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Industrial
Parking
10
Security features
Security System
Lot features
Level, Cleared
High school
Scotia-Glenville
Elementary school district
Scotia Glenville
Middle school district
Scotia Glenville
High school district
Scotia Glenville
Directions
Banker, to Uncas to Parkland to Market.
Standard status
Active
APN
422201 29.68-1-14
Size
1,394 SF
Lot size
0.96 Acres
Taxes and HOA fees
Tax Annual Amount
3871
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Amenities
WiFi
security system
Building Details
Year built
1955
Floors in Building
1
Flooring type
Concrete
Building materials
Block
Roof type
Rubber
Listing Agency:
KW Platform · Keller Williams Realty
(518) 724-5800
Listed By:
Christopher Iwinski · License #10401237144
(518) 405-6888
Added: Aug 21
Changed: Aug 25
Last Checked: Aug 30 at 9:06PM
MLS# 202624577
Copyright © 2026 Global MLS, Inc. 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 1,394-square-foot flex space at 16 Market Street includes a work area, private office, two bathrooms, concrete flooring, and one included shed. Building improvements include a rubber roof, new windows, and a new gas furnace. Two 14-foot overhead doors support vehicle and equipment access, while 440 electrical service serves the facility. Heating is provided by natural gas, with window-unit cooling.
The property occupies 0.96 acres in Scotia, NY, with exterior parking and yard area for trucks, trailers, and equipment. Public water and septic service are in place. Constructed in 1955, the block building is zoned Industrial and includes a security system and WiFi.
The property occupies 0.96 acres in Scotia, NY, with exterior parking and yard area for trucks, trailers, and equipment. Public water and septic service are in place. Constructed in 1955, the block building is zoned Industrial and includes a security system and WiFi.
Key Highlights
- 1,394 SF flex building on 0.96 acres
- Two 14‑foot overhead doors and 440 electrical service
- Private office, two bathrooms, and concrete flooring
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
48
Businesses Nearby
Well-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-use facility with office, two bathrooms, exterior parking, and yard space for equipment maneuvering.
Where is this flex space located?
The property is located at 16 Market Street Scotia, 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: 1,394 SF flex building on 0.96 acres; Two 14‑foot overhead doors and 440 electrical service; Private office, two bathrooms, and concrete flooring
