Flexible Commercial
For Sale
$499,000
218 S Caroline Street, Herkimer, NY 13350
CommercialSale, Herkimer, NY
Property Size6,696 SF
Lot Size0.30 Acres
Price / SF$74.52
Days on Market140
Property Features for 218 S Caroline Street
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
484
Zoning description
Commercial
Parking
10
Lot features
Rectangular, Rectangular Lot
Elementary school district
Herkimer
Middle school district
Herkimer
High school district
Herkimer
Subdivision
Herkimer-Village-213001
Standard status
Active
APN
213001-120-032-0001-056-000-0000
Size
6,696 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Annual Amount
16739
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
half baths
office and conference room
central air
warehouse space with overhead door
200 Amp 3 phase electric service
Building Details
Year built
1983
Floors in Building
1
Number of units
1
Flooring type
Concrete
Building materials
Block, Concrete
Roof type
Rubber, Membrane
Listing Agency:
Accent Brokerage, Inc.
(315) 219-5990
Listed By:
Rebecca Smith · License #10311200694
(315) 868-3098
Added: May 21
Changed: Oct 6
Last Checked: Oct 7 at 8:06AM
MLS# S1683848
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 6,696-square-foot flex property, built in 1983, combines retail, office, and warehouse functions within a concrete and block building. The retail area is arranged as two sections, including an approximately 1,064-square-foot portion with separate heat, lighting, and water, plus a half bath; that section is currently rented. The larger area includes two half baths, an office, conference room, and central air, while the layout can be reconfigured into one retail area. A rear warehouse provides approximately 1,665 square feet and an 11-by-11-foot overhead door.
The property has 200 Amp 3-phase electric service with subfeeds, natural gas forced-air heat, public water, public sewer, and a membrane rubber roof. It is positioned near the NYS Thruway, State Route 5, and State Route 5S. The parcel contains 0.303 acres and is identified with zoning code 484.
The property has 200 Amp 3-phase electric service with subfeeds, natural gas forced-air heat, public water, public sewer, and a membrane rubber roof. It is positioned near the NYS Thruway, State Route 5, and State Route 5S. The parcel contains 0.303 acres and is identified with zoning code 484.
Key Highlights
- 6,696 SF flex property on a 0.303‑acre parcel
- Retail area divided into two sections, including an approximately 1,064 SF rented portion
- Rear warehouse measures approximately 1,665 SF with an 11‑by‑11‑foot overhead door
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.
Property Analytics
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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
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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 - Adaptable commercial space combines divided retail areas, office amenities, and a rear warehouse with separate utility feeds.
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 SF flex property on a 0.303‑acre parcel; Retail area divided into two sections, including an approximately 1,064 SF rented portion; Rear warehouse measures approximately 1,665 SF with an 11‑by‑11‑foot overhead door
