Building Details

Year Built 1979

Buildings 2

Listing Agency: Davies Davies & Associates Real Estate LLC

Listed By: Daniel L Davies · License #49DA1061690 Show Phone

Source: Signatureonerealtygroup

Added: Oct 24 Changed: Oct 28 Last Checked: Oct 28 at 4:34AM

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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 Davies Davies & Associates Real Estate LLC

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Investment Insights

Based on property information with market context.

The 3,540-square-foot flex property includes two separate buildings on over 2 acres. The main building combines office space with warehouse and storage areas, plus a large garage. The second building is currently leased. Each building has two restrooms, for four across the property.

Outdoor storage and parking are also available. Built in 1979, the property brings office, warehouse, storage, and garage functions together across its two-building layout.

Key Highlights

• 3,540 SF across two separate buildings
• Over 2 acres
• Main building includes office space, warehouse and storage areas, and a large garage

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$38,105

Cap Rate

6.36%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$762,100 $762.1K

Cap Rate 7%

$544,357 $544.4K

Cap Rate 9%

$423,389 $423.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,540 SF

Gross rent

$63.7K $18.00/SF

− Vacancy

−$5.1K −$1.44/SF

EGI

$58.6K $16.56/SF

− OpEx

−$20.5K −$5.80/SF

NOI

$38.1K $10.76/SF

Area

Washington County, NY

Vacancy

8.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$762,100

Cap Rate 7%

$544,357

Cap Rate 9%

$423,389

Alternative Uses

Best Use

Flex RnD

$544.4K

$476.3K – $635.1K (±1% cap)

NOI $38,105 @ 7.0% cap · market cap 6.36%

Second Best

Warehouse

$379.8K

$332.3K – $443.1K (±1% cap)

NOI $26,586 @ 7.0% cap · market cap 4.44%

Theoretical Best

Office A

$878.2K

$768.5K – $1.02M (±1% cap)

NOI $61,477 @ 7.0% cap · market cap 10.26%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

V&H Construction, Inc. Construction Company

Suggested Use

Top Pick Real Estate Agency Daycare Center Nursing Home Bar & Pub

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

21

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 12828, NY

9,442

Population

3,974

Households

2.4

Avg Household Size

45

Median Age

19%

College-Educated

90%

High-School Grad

45.1 sq mi

ZIP Area

209

Density / Sq Mi

$77,776

Median Household Income

$44,153

Median Earnings

$1,147

Median Rent

$213,600

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Two separate buildings combine office, warehouse, storage, and garage space, with the second building currently leased.

Where is this flex space located?

The property is located at 195 Fort Edward Road Fort Edward, 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: 3,540 SF across two separate buildings; Over 2 acres; Main building includes office space, warehouse and storage areas, and a large garage