Flex Industrial Building with Loading
For Sale
Contact for pricing
3108 Carman Rd, Schenectady, NY 12303
NNN-leased flex property supports distribution and logistics operations with direct access to a major regional highway.
Property Size6,000 SF
Lot Size0.75 Acres
Price / SF$158.17
Days on Market33
Property Features for 3108 Carman Rd
General Information
Standard status
Active
Size
6,000 SF
Lot size
0.75 Acres
Property subtype
INDUSTRIAL
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Dock-High Doors
6
Building Details
Building Size
6,000 SF
Listing Agency:
BHHS - Blake REALTORS | Albany
(518) 848-8420
Listed By:
Antonio Johnson · License #10401288902
(518) 848-8420
Source:
Moodyscre
Added: Jul 30
Changed: Aug 30
Last Checked: Aug 30 at 1:57PM
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 BHHS - Blake REALTORS | Albany
Investment Insights
Based on property information with market context.
This 6,000-square-foot flex industrial building occupies 0.75 acres and is configured for distribution and logistics use. Six loading docks support goods movement, while the building’s flex format accommodates industrial operations and related commercial functions.
The property is located at 3108 Carman Rd in Schenectady, New York, on Carman Road and less than one mile from Exit 25 of the New York State Thruway, I-90. The site benefits from visibility along the roadway and convenient highway access.
An NNN lease is in place through April 30, 2028, with an investment-grade tenant. The lease includes two remaining five-year renewal options.
The property is located at 3108 Carman Rd in Schenectady, New York, on Carman Road and less than one mile from Exit 25 of the New York State Thruway, I-90. The site benefits from visibility along the roadway and convenient highway access.
An NNN lease is in place through April 30, 2028, with an investment-grade tenant. The lease includes two remaining five-year renewal options.
Key Highlights
- 6,000 SF flex industrial building on 0.75 acres
- Six loading docks support distribution and logistics operations
- Less than one mile from Exit 25 of the New York State Thruway (I‑90)
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
$45,060
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
4.75%
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%
$901,200
$901.2K
Cap Rate 7%
$643,714
$643.7K
Cap Rate 9%
$500,667
$500.7K
Market Conditions
NOI Build-Up for 6,000 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
$56.9K $9.48/SF
− Vacancy
−$3.9K −$0.64/SF
EGI
$53.0K $8.84/SF
− OpEx
−$8.0K −$1.33/SF
NOI
$45.1K $7.51/SF
Area
Schenectady 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%
$901,200
Cap Rate 7%
$643,714
Cap Rate 9%
$500,667
Alternative Uses
Best Use
Warehouse
$643.7K
$563.3K – $751.0K
NOI $45,060 @ 7.0% cap · market cap 4.75%
Second Best
Industrial
$530.1K
$463.9K – $618.5K
NOI $37,109 @ 7.0% cap · market cap 3.91%
Theoretical Best
Office A
$1.80M
$1.57M – $2.10M
NOI $125,712 @ 7.0% cap · market cap 13.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Dock-high doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12303, NY
30,893
Population
12,533
Households
2.5
Avg Household Size
41
Median Age
35%
College-Educated
90%
High-School Grad
15.6 sq mi
ZIP Area
1,980
Density / Sq Mi
$77,615
Median Household Income
$50,051
Median Earnings
$1,120
Median Rent
$227,500
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.
Frequently Asked Questions
What type of property is this?
Flex space - NNN-leased flex property supports distribution and logistics operations with direct access to a major regional highway.
Where is this flex space located?
The property is located at 3108 Carman Rd Schenectady, NY.
What is the asking price?
The asking price for this property is $949,000.
What are key features of this property?
This property features: 6,000 SF flex industrial building on 0.75 acres; Six loading docks support distribution and logistics operations; Less than one mile from Exit 25 of the New York State Thruway (I‑90)
