Building Details

Buildings 3

Listing Agency: Chapin Real Estate j**@jenniechapin.com Show Phone

Listed By: Douglas Rusch Show Phone

Source: Exprealty

Added: Sep 16 Changed: Sep 19 Last Checked: Sep 19 at 9:22AM

Report an Issue

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 Chapin Real Estate

Investment Insights

Based on property information with market context.

This showroom property includes 9,000 square feet of open interior space that can be reconfigured for a new layout or operating plan. Two additional pole barns provide substantial storage capacity, with dimensions of 20 by 40 feet and 40 by 60 feet. The property comprises two parcels totaling 4.52 acres.

A fully paved site surrounds the improvements and adds usable outdoor area for property operations, circulation, or storage. Located at 2536 State Route 12B in Hamilton, NY, the offering combines a large showroom building, accessory storage structures, and an expansive paved setting.

Key Highlights

• 9,000‑square‑foot showroom with open interior layout
• Two parcels totaling 4.52 acres
• Two pole barns measuring 20 x 40 feet and 40 x 60 feet

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

$116,342

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

7.27%

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%

$2,326,840 $2.3M

Cap Rate 7%

$1,662,029 $1.7M

Cap Rate 9%

$1,292,689 $1.3M

Market Conditions

NOI Build-Up for 9,000 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

$170.6K $18.96/SF

− Vacancy

−$4.4K −$0.49/SF

EGI

$166.2K $18.47/SF

− OpEx

−$49.9K −$5.54/SF

NOI

$116.3K $12.93/SF

Area

Madison County, NY

Vacancy

2.60%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

30.00%

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%

$2,326,840

Cap Rate 7%

$1,662,029

Cap Rate 9%

$1,292,689

Alternative Uses

Best Use

Retail

$1.66M

$1.45M – $1.94M (±1% cap)

NOI $116,342 @ 7.0% cap · market cap 7.27%

Second Best

—

—

no second resolved use

Theoretical Best

Industrial

$3.02M

$2.64M – $3.53M (±1% cap)

NOI $211,582 @ 7.0% cap · market cap 13.22%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Showrooms

Suggested Use

Top Pick Grocery & Convenience Store Garden Center Big Box & Wholesale Store (Bike/Boat/Book/etc) Store Pharmacy Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

83

Businesses Nearby

42k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Groceries 53% Shops & Services 25% Home Improvements & Furnishings 22%

Price Chopper Groceries

22,253 visits/mo 0.4 miles

Tractor Supply Co. Home Improvements & Furnishings

9,097 visits/mo 0.4 miles

Dollar Tree Shops & Services

7,372 visits/mo 0.4 miles

Advance Auto Parts Shops & Services

1,565 visits/mo 0.4 miles

Friendly Ford Of Hamilton Shops & Services

937 visits/mo 0.0 miles

Demographics for 13346, NY

6,427

Population

2,261

Households

2.8

Avg Household Size

27

Median Age

46%

College-Educated

95%

High-School Grad

35.4 sq mi

ZIP Area

182

Density / Sq Mi

$65,391

Median Household Income

$10,719

Median Earnings

$1,099

Median Rent

$222,300

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this showrooms located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Showroom - Flexible showroom space with additional storage buildings and a fully paved site.

Where is this showroom located?

The property is located at 2536 State Route 12b Hamilton, NY.

What is the asking price?

The asking price for this property is $1,600,000.

What are key features of this property?

This property features: 9,000‑square‑foot showroom with open interior layout; Two parcels totaling 4.52 acres; Two pole barns measuring 20 x 40 feet and 40 x 60 feet