Class A Warehouse with
For Sale
Contact for pricing
232 Industrial Park Dr, Frankfort, NY 13340
Class A warehouse and office building with 32' clear height, ESFR sprinklers, and dock and grade level doors.
Property Size141,072 SF
Lot Size26.10 Acres
Price / SF$85.06
Days on Market481
Property Features for 232 Industrial Park Dr
General Information
Standard status
Active
Size
141,072 SF
Class
A
Total Parking Spaces
205
Lot size
26.10 Acres
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Clear Height
32 ft
Dock-High Doors
8
Drive-In Doors
3
Heavy Power
Yes
Sprinkler System
Yes
Building Details
Year Built
1998
Year Renovated
2002
Properties For Sale
at 232 Industrial Park Dr Contact us- Floor
- Bldg
- Size
- 141,072 SF
- Type
- INDUSTRIAL
- Lease Type
- NNN
- Availability
- AVAILABLE, Now
- Sublease
- No
232 Industrial Park Dr
- Entire Class A Building available for sale or lease. Consists of 100,000SF of warehouse...
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Contact us
Listing Agency:
Cushman & Wakefield | Pyramid Brokerage - Albany
(518) 489-9199
Listed By:
Jeffrey D’Amore, SIOR
(518) 954-9160
Source:
Moodyscre
Added: May 22, 2025
Changed: Sep 6
Last Checked: Sep 14 at 10:07AM
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 Cushman & Wakefield | Pyramid Brokerage - Albany
Investment Insights
Based on property information with market context.
An entire Class A industrial facility is available for sale or lease, combining warehouse space with dedicated office space. The property totals 141,072 square feet across 26.1 acres, built in 1998 with a warehouse expansion completed in 2002. Warehouse features include 32' clear height and an ESFR sprinkler system, along with 8 dock doors and 3 grade level doors. Additional site and utility attributes include 205 car parking spaces, 2,000 amps of 480/277 volt 3-phase power, and municipal water and sewer with natural gas service.
The building is described as conveniently located with access to Route 5S and the NYS Thruway (I-90).
The building is described as conveniently located with access to Route 5S and the NYS Thruway (I-90).
Key Highlights
- Class A warehouse and office building totaling 141,072 SF on 26.1 acres (100,000 SF warehouse and 41,072 SF office).
- 32' clear height with ESFR sprinkler system.
- Loading includes 8 dock doors and 3 grade level doors.
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
$1,059,459
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
8.83%
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%
$21,189,180
$21.2M
Cap Rate 7%
$15,135,129
$15.1M
Cap Rate 9%
$11,771,767
$11.8M
Market Conditions
NOI Build-Up for 141,072 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
$1.34M $9.48/SF
− Vacancy
−$90.9K −$0.64/SF
EGI
$1.25M $8.84/SF
− OpEx
−$187.0K −$1.33/SF
NOI
$1.06M $7.51/SF
Area
Oneida 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%
$21,189,180
Cap Rate 7%
$15,135,129
Cap Rate 9%
$11,771,767
Alternative Uses
Best Use
Office B
$25.39M
$22.22M – $29.63M
NOI $1,777,507 @ 7.0% cap · market cap 14.81%
Second Best
Warehouse
$15.14M
$13.24M – $17.66M
NOI $1,059,459 @ 7.0% cap · market cap 8.83%
Theoretical Best
Office A
$37.18M
$32.53M – $43.37M
NOI $2,602,271 @ 7.0% cap · market cap 21.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
32 ft
Clear height
8
Dock-high doors
3
Drive-in doors
Yes
Heavy power
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
57
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13340, NY
7,652
Population
3,427
Households
2.2
Avg Household Size
45
Median Age
22%
College-Educated
94%
High-School Grad
60.3 sq mi
ZIP Area
127
Density / Sq Mi
$69,928
Median Household Income
$44,464
Median Earnings
$872
Median Rent
$143,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Warehouse - Class A warehouse and office building with 32' clear height, ESFR sprinklers, and dock and grade level doors.
Where is this warehouse located?
The property is located at 232 Industrial Park Dr Frankfort, NY.
What is the asking price?
The asking price for this property is $12,000,000.
What are key features of this property?
This property features: Class A warehouse and office building totaling 141,072 SF on 26.1 acres (100,000 SF warehouse and 41,072 SF office).; 32' clear height with ESFR sprinkler system.; Loading includes 8 dock doors and 3 grade level doors.
