Corner Lot Office
1616 State St Watertown, NY 13601
1616 State St, Watertown, NY, 13601
$425,000
For Sale
$425,000
Versatile corner office building with four private offices, a conference room, and ample on-site parking.
Property Size2,046 SF
Price / SF$207.72
Days on Market44
Property Features for 1616 State St
General Information
- Standard status
- Active
- Size
- 2,046 SF
Listing agency
North Star Real Estate & Property Management
(315) 777-4365
Listed by
Michael Hall
(315) 777-4365
Source
Exprealty
Added: Jun 8 Updated: Jul 21 at 2:55AM Checked: Jul 21 at 2:55AM
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 North Star Real Estate & Property Management
Investment Insights
Based on property information with market context.
This versatile office building is positioned on a corner lot and includes four private offices plus a conference room, supporting a range of business uses. The property is currently operating as an insurance office and has previously accommodated an ice cream shop, reflecting its adaptable interior layout.
The building is situated on State Street with strong visibility in a well-traveled area and easy access for customers and staff. Ample parking is available on site.
For buyers seeking a functional commercial property with a flexible floor plan, the configuration—private offices paired with a conference room—can support professional, retail, or service-oriented operations.
The building is situated on State Street with strong visibility in a well-traveled area and easy access for customers and staff. Ample parking is available on site.
For buyers seeking a functional commercial property with a flexible floor plan, the configuration—private offices paired with a conference room—can support professional, retail, or service-oriented operations.
Key Highlights
- Versatile corner office building with four private offices plus a conference room
- Flexible layout suited for a range of professional, retail, or service‑oriented business uses
- Currently operating as an insurance office, with prior use as an ice cream shop
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $49.1k | $24.00 |
| − Vacancy | −$11.1k | −$5.42 |
| EGI | $38.0k | $18.58 |
| − OpEx | −$9.5k | −$4.64 |
| NOI | $28.5k | $13.93 |
2,046 SF · lease $24.00/SF/yr · vacancy 22.60% · expense 25.00%
Alternative Uses
Best Use
Office B
$407.2K
$356.3K – $475.1K
NOI $28,505 @ 7.0% cap · market cap 6.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$564.0K
$493.5K – $658.0K
NOI $39,480 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Affordable McLaughlin Kehoe ...
Insurance Agency
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Versatile corner office building with four private offices, a conference room, and ample on-site parking.
Where is this office building located?
The property is located at 1616 State St Watertown, NY.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Versatile corner office building with four private offices plus a conference room; Flexible layout suited for a range of professional, retail, or service‑oriented business uses; Currently operating as an insurance office, with prior use as an ice cream shop
