Office-Storage Flex
New
For Sale
$750,000
1992 New Scotland Road, Slingerlands, NY 12159
Commercially zoned flex property with a mixed office and storage configuration.
Property Size5,400 SF
Price / SF$138.89
Days on Market3
Property Features for 1992 New Scotland Road
General Information
Standard status
Active
Size
5,400 SF
Total Parking Spaces
15
Zoning
Commercial
Taxes and HOA fees
Annual Taxes
$8,466
Building Details
Year Built
1950
Buildings
1
Stories
1
Listing Agency:
Staged Nest Real Estate LLC
Listed By:
Frances P Callahan · License #30CA0949290
(518) 265-9295
Source:
Capmarkrealty
Added: Sep 22
Last Checked: Sep 22 at 1:40PM
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 Staged Nest Real Estate LLC
Investment Insights
Based on property information with market context.
Located at 1992 New Scotland Road in New Scotland, this 5,400-square-foot flex property combines office and storage/warehouse areas within a commercially zoned building. Approximately 40% of the space is configured for office use and 60% for storage or warehouse functions, with ceiling heights varying across the building. The property is currently used for clean equipment storage and includes ample parking.
Built in 1950, the building previously accommodated a gymnastics studio and offices. Its existing mix of finished office space and storage areas supports a range of commercial configurations, subject to applicable approvals and site requirements.
Built in 1950, the building previously accommodated a gymnastics studio and offices. Its existing mix of finished office space and storage areas supports a range of commercial configurations, subject to applicable approvals and site requirements.
Key Highlights
- 5,400 square feet of office and storage/flex space
- Approximately 40% office and 60% storage/warehouse configuration
- Commercial zoning
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
$61,601
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
8.21%
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%
$1,232,020
$1.2M
Cap Rate 7%
$880,014
$880.0K
Cap Rate 9%
$684,456
$684.5K
Market Conditions
NOI Build-Up for 5,400 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
$77.8K $14.40/SF
− Vacancy
−$5.3K −$0.98/SF
EGI
$72.5K $13.42/SF
− OpEx
−$10.9K −$2.01/SF
NOI
$61.6K $11.41/SF
Area
Albany County, NY
Vacancy
6.80%
Lease Rate
$14.40 /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%
$1,232,020
Cap Rate 7%
$880,014
Cap Rate 9%
$684,456
Alternative Uses
Best Use
Warehouse
$880.0K
$770.0K – $1.03M
NOI $61,601 @ 7.0% cap · market cap 8.21%
Second Best
Industrial
$724.7K
$634.1K – $845.5K
NOI $50,731 @ 7.0% cap · market cap 6.76%
Theoretical Best
Office A
$1.69M
$1.47M – $1.97M
NOI $117,953 @ 7.0% cap · market cap 15.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12159, NY
8,524
Population
3,980
Households
2.1
Avg Household Size
47
Median Age
65%
College-Educated
97%
High-School Grad
15.1 sq mi
ZIP Area
565
Density / Sq Mi
$109,073
Median Household Income
$63,604
Median Earnings
$1,632
Median Rent
$430,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Flex space - Commercially zoned flex property with a mixed office and storage configuration.
Where is this flex space located?
The property is located at 1992 New Scotland Road Slingerlands, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 5,400 square feet of office and storage/flex space; Approximately 40% office and 60% storage/warehouse configuration; Commercial zoning
