Warehouse with Outdoor
For Sale
Contact for pricing
3493 Southside Road, Frankfort, NY 13340
Industrial/agricultural-zoned warehouse property with substantial exterior area for equipment, vehicles, and materials.
Property Size4,320 SF
Lot Size4.00 Acres
Price / SF$137.38
Days on Market12
Property Features for 3493 Southside Road
General Information
Standard status
Active
Size
4,320 SF
Total Parking Spaces
100
Lot size
4.00 Acres
Property subtype
Industrial, Mixed Use, Self Storage
Zoning
Industrial/Agricultural
Investment Type
Owner/User
Site & Location
Road Access
Yes
Outdoor Storage
Yes
Building Details
Year Built
1997
Buildings
1
Units
1
Building Size
4,320 SF
Listing Agency:
Leone Real Estate
Listed By:
Joseph Leone · License #00000
Source:
Crexi
Added: Aug 19
Changed: Aug 29
Last Checked: Aug 29 at 10:46PM
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 Leone Real Estate
Investment Insights
Based on property information with market context.
This warehouse property includes a commercial building constructed in 1997 and approximately 4 acres of land. The improvements provide warehouse and storage functionality, while the surrounding outdoor area can accommodate equipment, vehicles, and materials. The property’s configuration also supports a variety of commercial applications.
Located on Southside Road in Frankfort, the site carries Industrial/Agricultural zoning. Its combination of enclosed warehouse space and exterior area offers practical flexibility for storage-oriented operations and businesses requiring room beyond the building.
Located on Southside Road in Frankfort, the site carries Industrial/Agricultural zoning. Its combination of enclosed warehouse space and exterior area offers practical flexibility for storage-oriented operations and businesses requiring room beyond the building.
Key Highlights
- Approximately 4 acres of property
- Commercial warehouse and storage building
- Outdoor area for equipment, vehicles, and materials
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
$38,416
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
5.50%
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%
$768,320
$768.3K
Cap Rate 7%
$548,800
$548.8K
Cap Rate 9%
$426,844
$426.8K
Market Conditions
NOI Build-Up for 5,088 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
$67.2K $13.20/SF
− Vacancy
−$8.1K −$1.58/SF
EGI
$59.1K $11.62/SF
− OpEx
−$20.7K −$4.07/SF
NOI
$38.4K $7.55/SF
Area
Oneida County, NY
Vacancy
12.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
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%
$768,320
Cap Rate 7%
$548,800
Cap Rate 9%
$426,844
Alternative Uses
Best Use
Flex RnD
$548.8K
$480.2K – $640.3K
NOI $38,416 @ 7.0% cap · market cap 5.50%
Second Best
Warehouse
$545.9K
$477.6K – $636.9K
NOI $38,211 @ 7.0% cap · market cap 5.47%
Theoretical Best
Office A
$1.34M
$1.17M – $1.56M
NOI $93,855 @ 7.0% cap · market cap 13.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13340, NY
7,652
Population
3,427
Households
2.2
Avg Household Size
45
Median Age
22%
College-Educated
94%
High-School Grad
60.3 sq mi
ZIP Area
127
Density / Sq Mi
$69,928
Median Household Income
$44,464
Median Earnings
$872
Median Rent
$143,900
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?
Warehouse - Industrial/agricultural-zoned warehouse property with substantial exterior area for equipment, vehicles, and materials.
Where is this warehouse located?
The property is located at 3493 Southside Road Frankfort, NY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Approximately 4 acres of property; Commercial warehouse and storage building; Outdoor area for equipment, vehicles, and materials
