Leased Warehouse with Dock
For Sale
$379,000
2947 Strunk Road, Jamestown, NY 14701
CommercialSale, Jamestown, NY
Property Size4,800 SF
Lot Size2.01 Acres
Price / SF$78.96
Days on Market55
Property Features for 2947 Strunk Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
449
Zoning description
Commercial
Parking
40
Lot features
Irregular Lot
High school
Maple Grove Junior-Senior High
Elementary school district
Bemus Point
Middle school district
Bemus Point
High school district
Bemus Point
Subdivision
Ellicott-063889
Standard status
Active
APN
063889-369-007-0001-011-000
Size
4,800 SF
Lot size
2.01 Acres
Taxes and HOA fees
Tax Annual Amount
10499
Utilities
Sewer type
Septic Tank
Water source
Well
Building Details
Year built
1988
Floors in Building
1
Roof type
Flat
Listing Agency:
Century 21 Turner Brokers · Century 21 Real Estate
(716) 763-7506
Listed By:
Thomas Turner · License #10311200036
(716) 640-3912
Added: Jul 27
Changed: Sep 7
Last Checked: Sep 19 at 5:06AM
MLS# R1702027
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1988, this warehouse property includes 4,800 square feet of primary space plus 560 square feet of additional storage on a 2.0141-acre site. The building has a flat roof, four dock doors, well water, and a septic tank, supporting commercial loading and storage functions. Zoning is identified as 449.
The property is located at 2947 Strunk Road in Jamestown, near Interstate 86, which records an 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. The property is fully leased with an established tenant in place.
The property is located at 2947 Strunk Road in Jamestown, near Interstate 86, which records an 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. The property is fully leased with an established tenant in place.
Key Highlights
- 4,800‑square‑foot warehouse with an additional 560 square feet of storage
- Four dock doors support loading and unloading operations
- Fully leased with an established tenant in place
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
7.83%
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%
$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 9.51%
Second Best
Industrial
$424.1K
$371.1K – $494.8K
NOI $29,687 @ 7.0% cap · market cap 7.83%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,570 @ 7.0% cap · market cap 26.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
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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 - Fully leased warehouse property with loading infrastructure and access near Interstate 86.
Where is this warehouse located?
The property is located at 2947 Strunk Road Jamestown, NY.
What is the asking price?
The asking price for this property is $379,000.
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 loading and unloading operations; Fully leased with an established tenant in place
