Building Details

Building Size 35,000 SF

Listing Agency: Pyramidbrokerage

Listed By: Pyramid Brokerage Albany Show Phone

Source: Pyramidbrokerage

Added: Mar 25 Changed: Oct 3 Last Checked: Oct 19 at 3:24AM

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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 / Yr

$262,852

Cap Rate

9.06%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,257,040 $5.3M

Cap Rate 7%

$3,755,029 $3.8M

Cap Rate 9%

$2,920,578 $2.9M

Is this asking price fair?

Market Conditions

NOI Build-Up for 35,000 SF

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 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 (±1% cap)

NOI $262,852 @ 7.0% cap · market cap 9.06%

Second Best

Industrial

$3.09M

$2.71M – $3.61M (±1% cap)

NOI $216,466 @ 7.0% cap · market cap 7.46%

Theoretical Best

Office A

$10.48M

$9.17M – $12.22M (±1% cap)

NOI $733,320 @ 7.0% cap · market cap 25.29%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

F.W. Webb Company ... Plumbing Service

Suggested Use

Top Pick Real Estate Agency Law Firm Pharmacy Skin Care Clinic (Bike/Boat/Book/etc) Store Locksmith

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

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

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

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Similar Off Market Nearby

• All Storage — 217 Dix Ave, Glens Falls, NY 12801
• Prime Storage — 25 Triangle Park Rd, Queensbury, NY 12804
• Prime Storage - Queensbury — 25 Triangle Park Rd, Queensbury, NY 12804
• KeyLock Mini Storage — 25 triangle park rd, queensbury, ny 12804
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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.