Free-Standing Office/Warehouse
For Sale
Contact for pricing
22252 US Route 11, Watertown, NY 13601
Renovated flex building with office and warehouse space, two grade-level doors, and a fenced yard for versatile operations.
Property Size3,116 SF
Lot Size0.70 Acres
Price / SF$88.25
Days on Market53
Property Features for 22252 US Route 11
General Information
Standard status
Active
Size
3,116 SF
Lot size
0.70 Acres
Property subtype
Retail
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Additional Details
Drive-In Doors
2
Building Details
Year Built
1987
Year Renovated
2019
Stories
2
Listing Agency:
Bridgeway Commercial Realty, LLC
Listed By:
Tom Lischak, CCIM · License #10491204314
Source:
Crexi
Added: Jun 16
Changed: Jul 10
Last Checked: Aug 7 at 5:22AM
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 Bridgeway Commercial Realty, LLC
Investment Insights
Based on property information with market context.
This free-standing commercial building offers a functional mix of office and warehouse/flex space within a steel frame structure. The property was renovated in 2019 and includes hanging forced-air heaters for climate support. Two 8 ft grade-level overhead doors provide practical loading access, and a second-floor area can serve storage needs or be configured for additional office space. Outside, a large paved parking area supports day-to-day visits and deliveries, while a fenced-in backyard adds flexibility for a range of commercial uses.
The building is positioned directly off US Route 11 and is minutes from downtown Watertown. It sits on a 0.7-acre parcel with excellent visibility and access, located on the east side of Route 11 before Route 37. The property is adjacent to a gas station/convenience store within a high-traffic corridor.
With its combination of office functionality, warehouse/flex space, and loading access via two overhead doors, the building is well-suited for an owner-user that needs both workspace and distribution capability. It also fits buyers looking for a versatile setup that can accommodate office, storage, or light warehouse operations on the same site.
The building is positioned directly off US Route 11 and is minutes from downtown Watertown. It sits on a 0.7-acre parcel with excellent visibility and access, located on the east side of Route 11 before Route 37. The property is adjacent to a gas station/convenience store within a high-traffic corridor.
With its combination of office functionality, warehouse/flex space, and loading access via two overhead doors, the building is well-suited for an owner-user that needs both workspace and distribution capability. It also fits buyers looking for a versatile setup that can accommodate office, storage, or light warehouse operations on the same site.
Key Highlights
- 3,116 SF free‑standing commercial building on a 0.7‑acre parcel, directly off US Route 11 and minutes from downtown Watertown
- Renovated in 2019 and built with a steel frame; functional office plus warehouse/flex space layout
- Two 8 ft grade‑level overhead doors for loading and flexible warehouse access
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
$23,401
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
8.51%
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%
$468,020
$468.0K
Cap Rate 7%
$334,300
$334.3K
Cap Rate 9%
$260,011
$260.0K
Market Conditions
NOI Build-Up for 3,116 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
$29.5K $9.48/SF
− Vacancy
−$2.0K −$0.64/SF
EGI
$27.5K $8.84/SF
− OpEx
−$4.1K −$1.33/SF
NOI
$23.4K $7.51/SF
Area
Jefferson County, NY
Vacancy
6.80%
Lease Rate
$9.48 /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%
$468,020
Cap Rate 7%
$334,300
Cap Rate 9%
$260,011
Alternative Uses
Best Use
Office B
$620.2K
$542.7K – $723.5K
NOI $43,412 @ 7.0% cap · market cap 15.79%
Second Best
Warehouse
$334.3K
$292.5K – $390.0K
NOI $23,401 @ 7.0% cap · market cap 8.51%
Theoretical Best
Office A
$858.9K
$751.6K – $1.00M
NOI $60,126 @ 7.0% cap · market cap 21.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
49
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13601, NY
37,287
Population
18,653
Households
2
Avg Household Size
37
Median Age
25%
College-Educated
90%
High-School Grad
140.8 sq mi
ZIP Area
265
Density / Sq Mi
$57,503
Median Household Income
$37,061
Median Earnings
$974
Median Rent
$170,100
Median Home Value
Market
Vacancy Rate% for Office 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 - Renovated flex building with office and warehouse space, two grade-level doors, and a fenced yard for versatile operations.
Where is this flex space located?
The property is located at 22252 US Route 11 Watertown, NY.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 3,116 SF free‑standing commercial building on a 0.7‑acre parcel, directly off US Route 11 and minutes from downtown Watertown; Renovated in 2019 and built with a steel frame; functional office plus warehouse/flex space layout; Two 8 ft grade‑level overhead doors for loading and flexible warehouse access
