Flex Space with Ample
For Sale
$599,000
17612 COUNTY ROUTE 63, Watertown, NY 13601
Freestanding commercial building with adaptable interior space, public water, natural gas, and customer-oriented parking capacity.
Property Size7,224 SF
Price / SF$82.92
Days on Market378
Property Features for 17612 COUNTY ROUTE 63
General Information
Standard status
Active
Size
7,224 SF
Property subtype
General Commercial
Additional Details
Asking Price
$599,000
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$6,213
Amenities
Gas, A/C - Other
3
Other
80 Parking Spaces.
Rectangular
250X1
Other Road Type, Rectangular.
Building Details
Year Built
1987
Buildings
1
Stories
1
Listing Agency:
(315) 786-1900
Listed By:
Keller Williams Northern New York
(315) 786-1900
Source:
Xome
Added: Jul 31, 2025
Changed: Aug 12
Last Checked: Aug 12 at 4:00AM
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 Keller Williams Northern New York
Investment Insights
Based on property information with market context.
This 7,224-square-foot flex property was built in 1987 and is currently configured as an indoor sports center. The commercial building offers a broad, adaptable footprint that can accommodate a range of business formats, including event, retail, warehouse, fitness, manufacturing, professional service, and office operations as described in the property information. Existing features include air conditioning, gas service, public water, and natural gas.
The property occupies a rectangular site at 17612 County Route 63 in Watertown, New York, with 80 parking spaces. Its location is described as being just minutes from historic Sackets Harbor, providing a setting suited to customer- or client-facing commercial activity. The combination of usable building area, on-site parking, and established utility service supports continued sports use or repositioning for another commercial purpose.
The property occupies a rectangular site at 17612 County Route 63 in Watertown, New York, with 80 parking spaces. Its location is described as being just minutes from historic Sackets Harbor, providing a setting suited to customer- or client-facing commercial activity. The combination of usable building area, on-site parking, and established utility service supports continued sports use or repositioning for another commercial purpose.
Key Highlights
- 7,224‑square‑foot commercial building
- Currently operating as an indoor sports center
- 80 parking spaces on a rectangular site
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
$54,253
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
9.06%
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%
$1,085,060
$1.1M
Cap Rate 7%
$775,043
$775.0K
Cap Rate 9%
$602,811
$602.8K
Market Conditions
NOI Build-Up for 7,224 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
$68.5K $9.48/SF
− Vacancy
−$4.7K −$0.64/SF
EGI
$63.8K $8.84/SF
− OpEx
−$9.6K −$1.33/SF
NOI
$54.3K $7.51/SF
Area
Jefferson 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%
$1,085,060
Cap Rate 7%
$775,043
Cap Rate 9%
$602,811
Alternative Uses
Best Use
Warehouse
$775.0K
$678.2K – $904.2K
NOI $54,253 @ 7.0% cap · market cap 9.06%
Second Best
Industrial
$638.3K
$558.5K – $744.7K
NOI $44,679 @ 7.0% cap · market cap 7.46%
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,394 @ 7.0% cap · market cap 23.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13601, NY
37,287
Population
18,653
Households
2
Avg Household Size
37
Median Age
25%
College-Educated
90%
High-School Grad
140.8 sq mi
ZIP Area
265
Density / Sq Mi
$57,503
Median Household Income
$37,061
Median Earnings
$974
Median Rent
$170,100
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 - Freestanding commercial building with adaptable interior space, public water, natural gas, and customer-oriented parking capacity.
Where is this flex space located?
The property is located at 17612 COUNTY ROUTE 63 Watertown, NY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 7,224‑square‑foot commercial building; Currently operating as an indoor sports center; 80 parking spaces on a rectangular site
