Industrial Property with Storage
For Sale
$1,225,038
192 Railroad Avenue, Delanson, NY 12053
Industrial property featuring three buildings and outdoor storage.
Property Size13,500 SF
Lot Size11.39 Acres
Price / SF$90.74
Days on Market149
Property Features for 192 Railroad Avenue
General Information
Standard status
Active
Size
13,500 SF
Lot size
11.39 Acres
Property subtype
Industrial
Listing Agency:
CBRE - Albany
(518) 312-7171
Listed By:
Dan Davitt · License #Associate Real Estate Broker
(518) 312-7171
Source:
Cbre
Added: Mar 25
Changed: Aug 8
Last Checked: Aug 8 at 6:29AM
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 CBRE - Albany
Investment Insights
Based on property information with market context.
The property at 192 Railroad Avenue in Delanson, NY, presents an opportunity to acquire a NNN lease to Sunbelt Rentals Matting Division. This industrial outside storage (IOS) property includes an approximately 4,000-square-foot and approximately 2,500-square-foot updated Sunbelt facility. An additional building of approximately 7,000 square feet is leased to a local storage tenant. The property is situated approximately 4.7 miles from I-88, accessible from I-88 Exit 24 to Route 7 (Duanesburg Rd) to East Shore Rd to Railroad Ave. The total building area is approximately 13,500 square feet, distributed across three buildings: approximately 7,000 square feet, approximately 4,000 square feet, and approximately 2,500 square feet. The property spans approximately 11.39 acres and features ceiling heights of 14 to 18 feet. It includes one canopy dock capable of supporting 5 trailers, along with 4 grade-level doors. The electrical system provides 208 volts, 800 amps, and 3-phase power. There is a large area available for parking, laydown, and outdoor storage.
Key Highlights
- NNN lease to Sunbelt Rentals Matting Division.
- ±11.39 Acres of industrial outside storage (IOS) property.
- Three buildings totaling ±13,500 SF (±7,000 SF, ±4,000 SF, ±2,500 SF).
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
$101,386
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
8.28%
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%
$2,027,720
$2.0M
Cap Rate 7%
$1,448,371
$1.4M
Cap Rate 9%
$1,126,511
$1.1M
Market Conditions
NOI Build-Up for 13,500 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
$128.0K $9.48/SF
− Vacancy
−$8.7K −$0.64/SF
EGI
$119.3K $8.84/SF
− OpEx
−$17.9K −$1.33/SF
NOI
$101.4K $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%
$2,027,720
Cap Rate 7%
$1,448,371
Cap Rate 9%
$1,126,511
Alternative Uses
Best Use
Warehouse
$1.45M
$1.27M – $1.69M
NOI $101,386 @ 7.0% cap · market cap 8.28%
Second Best
Industrial
$1.19M
$1.04M – $1.39M
NOI $83,494 @ 7.0% cap · market cap 6.82%
Theoretical Best
Office A
$4.04M
$3.54M – $4.71M
NOI $282,852 @ 7.0% cap · market cap 23.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
39
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12053, NY
4,142
Population
1,997
Households
2.1
Avg Household Size
47
Median Age
31%
College-Educated
92%
High-School Grad
56.4 sq mi
ZIP Area
73
Density / Sq Mi
$99,831
Median Household Income
$61,523
Median Earnings
$788
Median Rent
$258,600
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial property featuring three buildings and outdoor storage.
Where is this warehouse located?
The property is located at 192 Railroad Avenue Delanson, NY.
What is the asking price?
The asking price for this property is $1,225,038.
What are key features of this property?
This property features: NNN lease to Sunbelt Rentals Matting Division.; ±11.39 Acres of industrial outside storage (IOS) property.; Three buildings totaling ±13,500 SF (±7,000 SF, ±4,000 SF, ±2,500 SF).
