Multi-Building Industrial and Storage
For Sale
$3,850,000
309-313 Bay Road, Queensbury, NY 12804
Six-building assemblage totaling 42,735 sf with municipal utilities, ample private parking, and a diverse 100% leased tenant roster.
Property Size42,735 SF
Lot Size6.73 Acres
Price / SF$90.09
Days on Market55
Property Features for 309-313 Bay Road
General Information
Standard status
Active
Size
42,735 SF
Lot size
6.73 Acres
Property subtype
Commercial
Occupancy
100%
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$42,451
Amenities
Central air
Metal Roof
Accessible Approach with Ramp
Accessible Doors
Accessible Full Bath
Accessible Sidewalks
Accessible Transportation or Bus
Carpet Flooring
Central Air Cooling
Cleared
Concrete Flooring
Laminate Flooring
Landscaped
Level
Lighting
Natural Gas Heating
Off Street
Partially Paved
Paved
Road Frontage
Shingle Roof
Vinyl Flooring
Building Details
Tenancy
Multi
Listing Agency:
LEVACK REAL ESTATE INC
(518) 793-7600
Listed By:
R. MARK LEVACK
Source:
Corcoran
Added: Jun 18
Changed: Aug 9
Last Checked: Aug 10 at 5:18AM
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 LEVACK REAL ESTATE INC
Investment Insights
Based on property information with market context.
This assemblage consists of six separate buildings totaling 42,735 square feet, currently 100% leased. The property is set on a 6.73-acre lot and includes municipal water and sewer service to each building, with separate gas and electric services. Ample off-street private parking supports day-to-day operations across the site. Tenant mix shown in the remarks includes a multinational medical products manufacturer, a Mexican restaurant, a body art business, a janitorial business, a trophy business, and a mini storage building.
The site is located in Queensbury, with the property described as being in proximity to one of the area’s busiest intersections. Each building operates with its own utility services, providing a self-contained setup within the overall portfolio. The combination of multiple uses within one ownership group can simplify management for an operator seeking variety under a single asset.
For investors, the primary advantage is leased diversification across industrial, restaurant, service, and storage uses within one multi-building portfolio. The current occupancy may support an income-focused ownership strategy, while the mixed-use configuration also lends itself to consideration of future redevelopment plans, as referenced in the offering materials. Financial details are available to qualified parties under NDA.
The site is located in Queensbury, with the property described as being in proximity to one of the area’s busiest intersections. Each building operates with its own utility services, providing a self-contained setup within the overall portfolio. The combination of multiple uses within one ownership group can simplify management for an operator seeking variety under a single asset.
For investors, the primary advantage is leased diversification across industrial, restaurant, service, and storage uses within one multi-building portfolio. The current occupancy may support an income-focused ownership strategy, while the mixed-use configuration also lends itself to consideration of future redevelopment plans, as referenced in the offering materials. Financial details are available to qualified parties under NDA.
Key Highlights
- Six‑building commercial assemblage totaling 42,735 sq. ft., currently 100% leased
- Located on a 6.73‑acre lot with ample off‑street private parking
- Each building is served by municipal water and sewer with separate gas and electric services
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
$320,942
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
8.34%
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%
$6,418,840
$6.4M
Cap Rate 7%
$4,584,886
$4.6M
Cap Rate 9%
$3,566,022
$3.6M
Market Conditions
NOI Build-Up for 42,735 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
$405.1K $9.48/SF
− Vacancy
−$27.5K −$0.64/SF
EGI
$377.6K $8.84/SF
− OpEx
−$56.6K −$1.33/SF
NOI
$320.9K $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%
$6,418,840
Cap Rate 7%
$4,584,886
Cap Rate 9%
$3,566,022
Alternative Uses
Best Use
Specialty Retail
$7.90M
$6.91M – $9.21M
NOI $552,692 @ 7.0% cap · market cap 14.36%
Second Best
Self Storage
$5.72M
$5.01M – $6.68M
NOI $400,615 @ 7.0% cap · market cap 10.41%
Theoretical Best
Office A
$12.79M
$11.19M – $14.92M
NOI $895,384 @ 7.0% cap · market cap 23.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
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?
Manufacturing property - Six-building assemblage totaling 42,735 sf with municipal utilities, ample private parking, and a diverse 100% leased tenant roster.
Where is this manufacturing property located?
The property is located at 309-313 Bay Road Queensbury, NY.
What is the asking price?
The asking price for this property is $3,850,000.
What are key features of this property?
This property features: Six‑building commercial assemblage totaling 42,735 sq. ft., currently 100% leased; Located on a 6.73‑acre lot with ample off‑street private parking; Each building is served by municipal water and sewer with separate gas and electric services
