Queensbury Warehouse with
For Sale
$2,900,000
3 Highland Avenue, Queensbury, NY 12804
35,000 SF warehouse with 18,000 SF mezzanine for sale.
Property Size35,000 SF
Lot Size3.79 Acres
Price / SF$82.86
Days on Market140
Property Features for 3 Highland Avenue
General Information
Standard status
Active
Size
35,000 SF
Lot size
3.79 Acres
Property subtype
Industrial
Listing Agency:
CBRE | Albany
(518) 378-2501
Listed By:
Craig Darby · License #Associate Real Estate Broker
(518) 378-2501
Source:
Cbre
Added: Mar 25
Changed: Jul 6
Last Checked: Aug 10 at 4:24PM
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 CBRE | Albany
Investment Insights
Based on property information with market context.
Offered for sale is a former FW Webb facility in Queensbury. The building has a footprint of approximately 35,000 square feet with an approximately 18,000 square foot mezzanine, situated on an approximately 3.79 acre parcel. The entire property is fenced with two gates. The ceiling height at the center is approximately 25 feet. There are three loading docks with levelers, one overhead door at grade level, and two loading docks on the east wall. The site is fenced in for secure parking and an outside laydown area, with parking for approximately 50 vehicles.
Key Highlights
- ±35,000 SF building with an ±18,000 SF mezzanine.
- ±3.79 acre fenced parcel for secure parking and outside laydown area.
- Features three loading docks with levelers.
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
$262,852
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
9.06%
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%
$5,257,040
$5.3M
Cap Rate 7%
$3,755,029
$3.8M
Cap Rate 9%
$2,920,578
$2.9M
Market Conditions
NOI Build-Up for 35,000 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
$331.8K $9.48/SF
− Vacancy
−$22.6K −$0.64/SF
EGI
$309.2K $8.84/SF
− OpEx
−$46.4K −$1.33/SF
NOI
$262.9K $7.51/SF
Area
Warren 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%
$5,257,040
Cap Rate 7%
$3,755,029
Cap Rate 9%
$2,920,578
Alternative Uses
Best Use
Warehouse
$3.76M
$3.29M – $4.38M
NOI $262,852 @ 7.0% cap · market cap 9.06%
Second Best
Industrial
$3.09M
$2.71M – $3.61M
NOI $216,466 @ 7.0% cap · market cap 7.46%
Theoretical Best
Office A
$10.48M
$9.17M – $12.22M
NOI $733,320 @ 7.0% cap · market cap 25.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
188
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12804, NY
27,790
Population
13,287
Households
2.1
Avg Household Size
47
Median Age
39%
College-Educated
94%
High-School Grad
54.7 sq mi
ZIP Area
508
Density / Sq Mi
$90,074
Median Household Income
$50,368
Median Earnings
$1,209
Median Rent
$284,400
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - 35,000 SF warehouse with 18,000 SF mezzanine for sale.
Where is this warehouse located?
The property is located at 3 Highland Avenue Queensbury, NY.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: ±35,000 SF building with an ±18,000 SF mezzanine.; ±3.79 acre fenced parcel for secure parking and outside laydown area.; Features three loading docks with levelers.
