Flexible Flex Space with
For Sale
$499,000
218 S Caroline Street, Herkimer, NY 13350
Commercial layout combines divisible retail areas, office functions, and rear warehouse space.
Property Size6,696 SF
Price / SF$74.52
Days on Market84
Property Features for 218 S Caroline Street
General Information
Standard status
Active
Size
6,696 SF
Property subtype
Land
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Warehouse Space
1,665 SF
Power
200 amps
Three-Phase Power
Yes
Amenities
conference room
Listing Agency:
Accent Brokerage, Inc.
(315) 219-5990
Listed By:
Rebecca Smith · License #10311200694
(315) 868-3098
Source:
Nicholcityrealty
Added: Jul 22
Changed: Oct 10
Last Checked: Oct 12 at 7:52PM
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 Accent Brokerage, Inc.
Investment Insights
Based on property information with market context.
This 6,696-square-foot flex property combines customer-facing space, office functions, and rear warehouse capacity. The retail component measures over 5,000 square feet and includes two half baths, an office, a conference room, and central air. A separate section of approximately 1,064 square feet includes its own half bath area, heat, lighting, and water services, while the larger retail area can be configured as two sections. The rear warehouse provides approximately 1,665 square feet and includes an 11x11 overhead door.
Electrical service is 200 Amp, 3 phase, with sub feeds. The property is located at 218 S Caroline Street in Herkimer, NY, with access to the NYS Thruway, State Route 5, and 5S.
Electrical service is 200 Amp, 3 phase, with sub feeds. The property is located at 218 S Caroline Street in Herkimer, NY, with access to the NYS Thruway, State Route 5, and 5S.
Key Highlights
- 6,696‑square‑foot flex property at 218 S Caroline Street, Herkimer, NY 13350
- Retail component measures over 5,000 square feet and can be configured as two sections
- Separate retail section of approximately 1,064 square feet with independent heat, lights, and water
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,413
Cap Rate
8.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$828,260
$828.3K
Cap Rate 7%
$591,614
$591.6K
Cap Rate 9%
$460,144
$460.1K
Market Conditions
NOI Build-Up for 6,696 SF
Gross rent
$63.5K $9.48/SF
− Vacancy
−$4.3K −$0.64/SF
EGI
$59.2K $8.84/SF
− OpEx
−$17.7K −$2.65/SF
NOI
$41.4K $6.18/SF
Area
Herkimer County, NY
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$828,260
Cap Rate 7%
$591,614
Cap Rate 9%
$460,144
Alternative Uses
Best Use
Retail
$1.57M
$1.37M – $1.83M
NOI $109,568 @ 7.0% cap · market cap 21.96%
Second Best
Flex RnD
$1.24M
$1.08M – $1.44M
NOI $86,491 @ 7.0% cap · market cap 17.33%
Theoretical Best
Office A
$1.99M
$1.74M – $2.33M
NOI $139,514 @ 7.0% cap · market cap 27.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
751
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13350, NY
9,513
Population
4,709
Households
2
Avg Household Size
41
Median Age
20%
College-Educated
92%
High-School Grad
31.6 sq mi
ZIP Area
301
Density / Sq Mi
$62,548
Median Household Income
$37,975
Median Earnings
$821
Median Rent
$136,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Commercial layout combines divisible retail areas, office functions, and rear warehouse space.
Where is this flex space located?
The property is located at 218 S Caroline Street Herkimer, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 6,696‑square‑foot flex property at 218 S Caroline Street, Herkimer, NY 13350; Retail component measures over 5,000 square feet and can be configured as two sections; Separate retail section of approximately 1,064 square feet with independent heat, lights, and water
