Multi-Building Industrial Flex
For Sale
Contact for pricing
37 Maple Ave., Glenville, NY 12302
Four industrial buildings with office, storage, loading, production space, and specialty HVAC and air circulation systems.
Property Size4,295 SF
Price / SF$133.88
Days on Market57
Property Features for 37 Maple Ave.
General Information
Standard status
Active
Size
4,295 SF
Property subtype
Industrial
Building Details
Buildings
4
Listing Agency:
Hanna Commercial Real Estate
Listed By:
Jessica Richer · License #NY 10301202070
(518) 364-7406
Source:
Crexi
Added: Jul 20
Changed: Sep 9
Last Checked: Sep 13 at 7:23AM
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 Hanna Commercial Real Estate
Investment Insights
Based on property information with market context.
This multi-building industrial flex property features four separate buildings with a mix of office space, storage, loading areas, and production space, supported by plenty of open space across the site. The buildings are outfitted with specialty HVAC and air circulation systems, and the property has a documented history as a chemical company.
The property is located at 37 Maple Ave in Schenectady, NY. Its configuration supports both administrative and operational functions on-site, with dedicated loading and production space across multiple buildings.
The combination of office, storage, loading, and production space—along with the specialty HVAC and air circulation improvements—creates a practical setup for companies that require on-site process support and flexible operational layouts.
The property is located at 37 Maple Ave in Schenectady, NY. Its configuration supports both administrative and operational functions on-site, with dedicated loading and production space across multiple buildings.
The combination of office, storage, loading, and production space—along with the specialty HVAC and air circulation improvements—creates a practical setup for companies that require on-site process support and flexible operational layouts.
Key Highlights
- Four industrial buildings offering office, storage, loading, and production space
- Property includes 4 buildings with office, storage, loading area, and production space
- Previously used as a chemical company
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
$32,256
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
5.61%
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%
$645,120
$645.1K
Cap Rate 7%
$460,800
$460.8K
Cap Rate 9%
$358,400
$358.4K
Market Conditions
NOI Build-Up for 4,295 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
$40.7K $9.48/SF
− Vacancy
−$2.8K −$0.64/SF
EGI
$37.9K $8.84/SF
− OpEx
−$5.7K −$1.33/SF
NOI
$32.3K $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%
$645,120
Cap Rate 7%
$460,800
Cap Rate 9%
$358,400
Alternative Uses
Best Use
Warehouse
$460.8K
$403.2K – $537.6K
NOI $32,256 @ 7.0% cap · market cap 5.61%
Second Best
Industrial
$379.5K
$332.1K – $442.7K
NOI $26,564 @ 7.0% cap · market cap 4.62%
Theoretical Best
Office A
$1.29M
$1.12M – $1.50M
NOI $89,989 @ 7.0% cap · market cap 15.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 12302, NY
27,618
Population
12,406
Households
2.2
Avg Household Size
45
Median Age
42%
College-Educated
95%
High-School Grad
43.3 sq mi
ZIP Area
638
Density / Sq Mi
$94,156
Median Household Income
$55,305
Median Earnings
$1,207
Median Rent
$240,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Flex space - Four industrial buildings with office, storage, loading, production space, and specialty HVAC and air circulation systems.
Where is this flex space located?
The property is located at 37 Maple Ave. Glenville, NY.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Four industrial buildings offering office, storage, loading, and production space; Property includes 4 buildings with office, storage, loading area, and production space; Previously used as a chemical company
