Leased Warehouse with Dock
New
For Sale
Contact for pricing
2947 Strunk Rd, Jamestown, NY 14701
Industrial facility includes separate storage and a lease structure with a renewal option.
Property Size4,800 SF
Price / SF$79.15
Days on Market6
Property Features for 2947 Strunk Rd
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Special Purpose
Occupancy
100%
Warehouse & Industrial
Warehouse Space
4,800 SF
Dock-High Doors
4
Additional Details
Highway Access
Yes
Building Details
Year Built
1988
Tenancy
Single
Listing Agency:
CENTURY 21 Turner Brokers
(716) 640-3912
Listed By:
Thomas Turner · License #10311200036
Source:
Crexi
Added: Aug 14
Changed: Aug 18
Last Checked: Aug 18 at 1:12PM
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 Turner Brokers
Investment Insights
Based on property information with market context.
Built in 1988, the property contains a 4,800-square-foot warehouse and an additional 560 square feet of storage. Four dock doors support loading and unloading, while the building is fully leased to an established tenant.
Located just off Interstate 86 in Ellicott, the property benefits from access to a reported average daily traffic count of approximately 12,100 vehicles. The existing lease includes one 5-year renewal option, with a 5% rental increase scheduled at the start of that option period.
Located just off Interstate 86 in Ellicott, the property benefits from access to a reported average daily traffic count of approximately 12,100 vehicles. The existing lease includes one 5-year renewal option, with a 5% rental increase scheduled at the start of that option period.
Key Highlights
- 4,800‑square‑foot warehouse with an additional 560 square feet of storage
- Four dock doors support commercial loading and unloading
- Fully leased to an established tenant
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
$29,687
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
7.81%
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%
$593,740
$593.7K
Cap Rate 7%
$424,100
$424.1K
Cap Rate 9%
$329,856
$329.9K
Market Conditions
NOI Build-Up for 4,800 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
$45.5K $9.48/SF
− Vacancy
−$3.1K −$0.64/SF
EGI
$42.4K $8.84/SF
− OpEx
−$12.7K −$2.65/SF
NOI
$29.7K $6.18/SF
Area
Chautauqua County, NY
Vacancy
6.80%
Lease Rate
$9.48 /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%
$593,740
Cap Rate 7%
$424,100
Cap Rate 9%
$329,856
Alternative Uses
Best Use
Warehouse
$515.0K
$450.6K – $600.8K
NOI $36,048 @ 7.0% cap · market cap 9.49%
Second Best
Industrial
$424.1K
$371.1K – $494.8K
NOI $29,687 @ 7.0% cap · market cap 7.81%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,570 @ 7.0% cap · market cap 26.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Dock-high doors
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
39
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14701, NY
38,428
Population
19,469
Households
2
Avg Household Size
42
Median Age
25%
College-Educated
90%
High-School Grad
92.6 sq mi
ZIP Area
415
Density / Sq Mi
$50,909
Median Household Income
$34,592
Median Earnings
$769
Median Rent
$98,400
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Pic 17 Self Storage — 3209 Fluvanna Ave Ext, Jamestown, NY 14701
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial facility includes separate storage and a lease structure with a renewal option.
Where is this warehouse located?
The property is located at 2947 Strunk Rd Jamestown, NY.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: 4,800‑square‑foot warehouse with an additional 560 square feet of storage; Four dock doors support commercial loading and unloading; Fully leased to an established tenant
