Flex Building with Office and
For Sale
$250,000
24 Ohio Street, Oswego, NY 13126
Flex-style building offering office space, workshop zones, and storage, plus outdoor area for parking and snow management.
Property Size3,202 SF
Price / SF$83.33
Days on Market47
Property Features for 24 Ohio Street
General Information
Standard status
Active
Size
3,202 SF
Total Parking Spaces
10
Property subtype
Commercial
Zoning
TN2, Restricted Business
Taxes and HOA fees
Annual Taxes
$2,891
Building Details
Building Size
3,202 SF
Year Built
1980
Buildings
1
Stories
1
Listing Agency:
Century 21 Galloway Realty
(315) 342-2111
Listed By:
Jeffrey Tonkin · License #30TO0955654
(315) 342-2111
Source:
Homeprocny
Added: Jul 11
Changed: Aug 24
Last Checked: Aug 25 at 8:47AM
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 Century 21 Galloway Realty
Investment Insights
Based on property information with market context.
This for-sale commercial building provides a flexible setup for businesses needing both work and storage. The layout includes a combination of office space, workshop zones, and storage areas designed to support multiple day-to-day functions under one roof.
The property is located in a rapidly developing area of the City of Oswego. It also features ample outdoor space that can accommodate extra parking for staff and clients, with practical room for snow management during the winter months.
With more than one functional area in place, the building is well suited for users looking to combine client-facing space with operational and storage needs.
The property is located in a rapidly developing area of the City of Oswego. It also features ample outdoor space that can accommodate extra parking for staff and clients, with practical room for snow management during the winter months.
With more than one functional area in place, the building is well suited for users looking to combine client-facing space with operational and storage needs.
Key Highlights
- Commercial building built in 1980
- Just over 3,000 SF with office, workshop, and storage zones
- Flex‑style layout for expanding operations, workshops, storage, and client‑facing office space
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
$22,530
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
9.01%
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%
$450,600
$450.6K
Cap Rate 7%
$321,857
$321.9K
Cap Rate 9%
$250,333
$250.3K
Market Conditions
NOI Build-Up for 3,000 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
$28.4K $9.48/SF
− Vacancy
−$1.9K −$0.64/SF
EGI
$26.5K $8.84/SF
− OpEx
−$4.0K −$1.33/SF
NOI
$22.5K $7.51/SF
Area
Oswego 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%
$450,600
Cap Rate 7%
$321,857
Cap Rate 9%
$250,333
Alternative Uses
Best Use
Flex RnD
$553.6K
$484.4K – $645.8K
NOI $38,750 @ 7.0% cap · market cap 15.50%
Second Best
Warehouse
$321.9K
$281.6K – $375.5K
NOI $22,530 @ 7.0% cap · market cap 9.01%
Theoretical Best
Office A
$598.4K
$523.6K – $698.1K
NOI $41,887 @ 7.0% cap · market cap 16.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
744
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13126, NY
35,477
Population
15,668
Households
2.3
Avg Household Size
36
Median Age
29%
College-Educated
92%
High-School Grad
100.7 sq mi
ZIP Area
352
Density / Sq Mi
$63,590
Median Household Income
$30,469
Median Earnings
$992
Median Rent
$134,600
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Flex space - Flex-style building offering office space, workshop zones, and storage, plus outdoor area for parking and snow management.
Where is this flex space located?
The property is located at 24 Ohio Street Oswego, NY.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Commercial building built in 1980; Just over 3,000 SF with office, workshop, and storage zones; Flex‑style layout for expanding operations, workshops, storage, and client‑facing office space
