Leased Warehouse with Dock
For Sale
$379,000
2947 Strunk Road, Jamestown, NY 14701
Fully leased warehouse with four dock doors, including 4,800 SF warehouse plus 560 SF storage.
Property Size4,800 SF
Price / SF$78.96
Days on Market29
Property Features for 2947 Strunk Road
General Information
Standard status
Active
Size
4,800 SF
Total Parking Spaces
40
Property subtype
Commercial
Zoning
449, Commercial
Warehouse & Industrial
Warehouse Space
4,800 SF
Dock-High Doors
4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$10,499
Building Details
Building Size
4,800 SF
Year Built
1988
Buildings
1
Stories
1
Listing Agency:
Century 21 Turner Brokers
(716) 640-3912
Listed By:
Thomas Turner · License #10311200036
(716) 640-3912
Source:
Wcirealty
Added: Jul 27
Changed: Aug 23
Last Checked: Aug 22 at 8:33AM
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.
This fully leased warehouse property includes a 4,800-square-foot warehouse area with an additional 560-square-feet of storage space. Loading and unloading are supported by four dock doors, supporting efficient industrial operations and distribution activity.
The property is conveniently located just off Interstate 86, with an average daily traffic count of approximately 12,100 vehicles, which helps provide strong regional accessibility for transportation and logistics.
The current lease is in place with one 5-year renewal option and a 5% rental increase at the beginning of the option period.
The property is conveniently located just off Interstate 86, with an average daily traffic count of approximately 12,100 vehicles, which helps provide strong regional accessibility for transportation and logistics.
The current lease is in place with one 5-year renewal option and a 5% rental increase at the beginning of the option period.
Key Highlights
- Fully leased commercial warehouse with an established tenant already in place
- 4,800 SF warehouse plus 560 SF of storage space for industrial or distribution use
- Four dock doors for efficient loading and unloading
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
Property Profile
Current Use
Lease Details
4
Dock-high doors
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 - Fully leased warehouse with four dock doors, including 4,800 SF warehouse plus 560 SF storage.
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: Fully leased commercial warehouse with an established tenant already in place; 4,800 SF warehouse plus 560 SF of storage space for industrial or distribution use; Four dock doors for efficient loading and unloading
