Flex Retail and Warehouse
For Sale
Contact for pricing
335-337 Genesee St, Auburn, NY 13021
Two-building setup with retail showroom and rear-loading warehouse space on a highly accessible retail corridor.
Property Size4,684 SF
Lot Size1.80 Acres
Price / SF$117.42
Days on Market59
Property Features for 335-337 Genesee St
General Information
Standard status
Active
Size
4,684 SF
Class
B
Total Parking Spaces
20
Lot size
1.80 Acres
Property subtype
Retail, Office, Land
Zoning
HC - Highway Commercial
Lease Type
NNN
Investment Type
Owner/User
Additional Details
Highway Access
Yes
Drive-In Doors
1
Building Details
Year Built
2003
Buildings
2
Units
2
Tenancy
Single
Listing Agency:
HUNT Commercial
(646) 753-1529
Listed By:
Maryellen Bindra · License #10401390715
Source:
Crexi
Added: Jun 11
Changed: Aug 8
Last Checked: Aug 8 at 2:03PM
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 HUNT Commercial
Investment Insights
Based on property information with market context.
The property includes two connected commercial buildings totaling approximately 4,684 SF, with flexible space that can support a range of operating models. The larger 2,500 SF retail/showroom building provides rear loading access, while the 2,184 SF warehouse building is equipped with a large commercial overhead door. The overall configuration is designed to accommodate uses that may require both customer-facing space and practical delivery or storage access. In addition, the offering includes approximately 1.8 acres of land.
The site is located on Auburn’s retail corridor between Dollar General and Auburn Towne Center Plaza, providing strong visibility and exposure to passing traffic. It also offers convenient access to I-90, Route 20, and Veterans Memorial Parkway, which can support customer visits and day-to-day logistical movement.
For tenants, buyers, and owner-operators, the combination of retail/showroom space, rear loading, and a dedicated warehouse door can fit many real-world requirements, including retail, contractor operations, distribution, storage, service businesses, automotive-related uses, and certain experiential concepts. As a for-sale opportunity, it may also appeal to investors and 1031-exchange buyers looking for a versatile, easily understood two-building setup.
The site is located on Auburn’s retail corridor between Dollar General and Auburn Towne Center Plaza, providing strong visibility and exposure to passing traffic. It also offers convenient access to I-90, Route 20, and Veterans Memorial Parkway, which can support customer visits and day-to-day logistical movement.
For tenants, buyers, and owner-operators, the combination of retail/showroom space, rear loading, and a dedicated warehouse door can fit many real-world requirements, including retail, contractor operations, distribution, storage, service businesses, automotive-related uses, and certain experiential concepts. As a for-sale opportunity, it may also appeal to investors and 1031-exchange buyers looking for a versatile, easily understood two-building setup.
Key Highlights
- Two‑building commercial property on approx. 1.8 acres, built in 2003
- Total approx. 4,684 SF: 2,500 SF retail/showroom plus 2,184 SF warehouse
- 2,500 SF retail/showroom building includes rear loading access
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
$47,116
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
8.57%
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%
$942,320
$942.3K
Cap Rate 7%
$673,086
$673.1K
Cap Rate 9%
$523,511
$523.5K
Market Conditions
NOI Build-Up for 4,684 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
$70.3K $15.00/SF
− Vacancy
−$3.0K −$0.63/SF
EGI
$67.3K $14.37/SF
− OpEx
−$20.2K −$4.31/SF
NOI
$47.1K $10.06/SF
Area
Cayuga County, NY
Vacancy
4.20%
Lease Rate
$15.00 /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%
$942,320
Cap Rate 7%
$673,086
Cap Rate 9%
$523,511
Alternative Uses
Best Use
Flex RnD
$840.3K
$735.3K – $980.4K
NOI $58,822 @ 7.0% cap · market cap 10.69%
Second Best
Retail
$673.1K
$589.0K – $785.3K
NOI $47,116 @ 7.0% cap · market cap 8.57%
Theoretical Best
Office A
$1.04M
$908.3K – $1.21M
NOI $72,666 @ 7.0% cap · market cap 13.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
292
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13021, NY
38,479
Population
18,847
Households
2
Avg Household Size
44
Median Age
27%
College-Educated
91%
High-School Grad
119.2 sq mi
ZIP Area
323
Density / Sq Mi
$58,946
Median Household Income
$41,990
Median Earnings
$874
Median Rent
$169,300
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?
Flex space - Two-building setup with retail showroom and rear-loading warehouse space on a highly accessible retail corridor.
Where is this flex space located?
The property is located at 335-337 Genesee St Auburn, NY.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two‑building commercial property on approx. 1.8 acres, built in 2003; Total approx. 4,684 SF: 2,500 SF retail/showroom plus 2,184 SF warehouse; 2,500 SF retail/showroom building includes rear loading access
