Updated Two-Story Office
For Sale
$674,990
2 Daggett Drive, Rexford, NY 12148
Flexible office layout includes private rooms, shared work areas, a kitchen, and ADA-accessible entry.
Property Size2,858 SF
Lot Size1.00 Acre
Price / SF$236.18
Days on Market8
Property Features for 2 Daggett Drive
General Information
Standard status
Active
Size
2,858 SF
Total Parking Spaces
18
Lot size
1.00 Acre
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Amenities
Accessible Approach with Ramp
Building Details
Year Built
1960
Buildings
1
Stories
2
Building Size
2,858 SF
Listing Agency:
Miranda Real Estate Group Inc
(518) 438-4511
Listed By:
Christine M Serafini · License #30WA0832219
(518) 639-4663
Source:
Signatureonerealtygroup
Added: Aug 22
Changed: Aug 28
Last Checked: Aug 26 at 9:04AM
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 Miranda Real Estate Group Inc
Investment Insights
Based on property information with market context.
This 2,858-square-foot office building occupies a full acre and is arranged across two stories. The existing layout provides multiple private offices, shared workspace, a working kitchen, dedicated copy room, and two bathrooms. Recent improvements include a new furnace installed in 2025, a new rubber roof on the side section, professional interior paint, newer flooring and carpeting, and updated light fixtures.
Located at 2 Daggett Drive, also identified as 1585 Route 146, the property offers a prominent position along a high-traffic corridor in Rexford. An ADA-compliant entrance, central air, public water, commercial zoning, and 18 private parking spaces support day-to-day office operations. The configuration is suited to professional office, medical, dental, legal, accounting, financial services, insurance, wellness, counseling, and real estate uses.
Located at 2 Daggett Drive, also identified as 1585 Route 146, the property offers a prominent position along a high-traffic corridor in Rexford. An ADA-compliant entrance, central air, public water, commercial zoning, and 18 private parking spaces support day-to-day office operations. The configuration is suited to professional office, medical, dental, legal, accounting, financial services, insurance, wellness, counseling, and real estate uses.
Key Highlights
- 2,858 SF two‑story office building on a full acre
- 18 private parking spaces and ADA‑compliant entry
- New furnace installed in 2025
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
$48,157
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
7.13%
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%
$963,140
$963.1K
Cap Rate 7%
$687,957
$688.0K
Cap Rate 9%
$535,078
$535.1K
Market Conditions
NOI Build-Up for 2,858 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
$75.5K $26.40/SF
− Vacancy
−$11.2K −$3.93/SF
EGI
$64.2K $22.47/SF
− OpEx
−$16.1K −$5.62/SF
NOI
$48.2K $16.85/SF
Area
Schenectady County, NY
Vacancy
14.90%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
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%
$963,140
Cap Rate 7%
$687,957
Cap Rate 9%
$535,078
Alternative Uses
Best Use
Office B
$688.0K
$602.0K – $802.6K
NOI $48,157 @ 7.0% cap · market cap 7.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$855.4K
$748.5K – $998.0K
NOI $59,881 @ 7.0% cap · market cap 8.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
25
Businesses Nearby
Explore this area
Business Placement
Demographics for 12148, NY
4,935
Population
1,949
Households
2.5
Avg Household Size
47
Median Age
58%
College-Educated
95%
High-School Grad
15.6 sq mi
ZIP Area
316
Density / Sq Mi
$135,694
Median Household Income
$103,654
Median Earnings
$1,134
Median Rent
$406,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Flexible office layout includes private rooms, shared work areas, a kitchen, and ADA-accessible entry.
Where is this office building located?
The property is located at 2 Daggett Drive Rexford, NY.
What is the asking price?
The asking price for this property is $674,990.
What are key features of this property?
This property features: 2,858 SF two‑story office building on a full acre; 18 private parking spaces and ADA‑compliant entry; New furnace installed in 2025
