Retail Flex Building with
218 South Caroline Street Herkimer, NY 13350
218 South Caroline Street, Herkimer, NY, 13350
$499,000
For Sale
$499,000
Flexible retail layout and rear warehouse use provide options for retail operations and additional income streams.
Property Size6,696 SF
Price / SF$74.52
Days on Market95
Property Features for 218 South Caroline Street
General Information
- Standard status
- Active
- Size
- 6,696 SF
- Property subtype
- Land / Commercial
Building Details
- Year Built
- 1983
Listing agency
Accent Brokerage, Inc.
(315) 219-5990
Listed by
Rebecca Smith · License #10311200694
(315) 219-5990
Source
Compass
Added: Apr 19 Updated: Jul 10 at 1:49PM Checked: Jul 21 at 6:09AM
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 property is a flex-style commercial building combining retail space with warehouse space at the rear. The retail area is described as being over 5,000 square feet and is offered with a flexible floor plan that can be split into two sides. One smaller side is approximately 1,064 square feet and has separate utilities, including heat, lights, and water, plus a half bath area. The larger retail portion includes multiple half baths, an office area, and a conference room, with central air. Out back is an approximately 1,665 square foot warehouse space featuring an 11x11 overhead door. The building also includes a 200 amp, 3-phase electric service with sub feeds.
The property is positioned in a high-traffic location and is described as centrally located to the NYS Thruway, State Route 5, and 5S, supporting accessibility for customers and deliveries.
For tenants, buyers, or operators seeking a single building that can support both front-of-house retail and back-of-house storage or fulfillment, this configuration provides direct flexibility. The ability to separate retail into two sides with separate utilities is particularly relevant for businesses that want to control their own space while potentially using the other portion to support additional occupancy or shared expenses.
The property is positioned in a high-traffic location and is described as centrally located to the NYS Thruway, State Route 5, and 5S, supporting accessibility for customers and deliveries.
For tenants, buyers, or operators seeking a single building that can support both front-of-house retail and back-of-house storage or fulfillment, this configuration provides direct flexibility. The ability to separate retail into two sides with separate utilities is particularly relevant for businesses that want to control their own space while potentially using the other portion to support additional occupancy or shared expenses.
Key Highlights
- One‑story commercial building built in 1983 with 6,696 total SF and no basement
- Over 5,000 SF retail space can be split into two sides for flexible use
- Smaller retail side approx. 1,064 SF with separate heat, lights, and water plus half bath area
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $63.5k | $9.48 |
| − Vacancy | −$4.3k | −$0.64 |
| EGI | $59.2k | $8.84 |
| − OpEx | −$17.7k | −$2.65 |
| NOI | $41.4k | $6.18 |
6,696 SF · lease $9.48/SF/yr · vacancy 6.80% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
John's Floorcovering Company, ...
Carpet & Flooring Store
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Flexible retail layout and rear warehouse use provide options for retail operations and additional income streams.
Where is this flex space located?
The property is located at 218 South 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: One‑story commercial building built in 1983 with 6,696 total SF and no basement; Over 5,000 SF retail space can be split into two sides for flexible use; Smaller retail side approx. 1,064 SF with separate heat, lights, and water plus half bath area
