Office Unit with High
For Sale
Contact for pricing
394 Elsmere Avenue, Bethlehem, NY 12054
The street-level suite has an open layout, a private bathroom and off-street parking behind the building.
Property Size9,150 SF
Price / SF$0.18
Days on Market173
Property Features for 394 Elsmere Avenue
General Information
Standard status
Active
Size
9,150 SF
Property subtype
Office
Additional Details
Floor
Street Level
Property Use
Office
Amenities
high ceilings
private bathroom
Building Details
Year Built
2018
Listing Agency:
Realty One Group Key
(518) 630-5360
Listed By:
Philip Battaglino · License #40BA1130611
(518) 210-6488
Source:
Simplywoodardrealestate
Added: May 14
Changed: Nov 1
Last Checked: Nov 1 at 3:37PM
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 Realty One Group Key
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Investment Insights
Based on property information with market context.
This street-level office unit offers approximately 1,030 square feet of open space, high ceilings and a private bathroom. The building was constructed in 2018, and off-street parking is located at the rear.
The property is on Elsmere Avenue in Delmar, with visibility from the road.
The property is on Elsmere Avenue in Delmar, with visibility from the road.
Key Highlights
- Approximately 1,030 square feet of office space
- Street‑level suite with an open layout and high ceilings
- Private bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$141,313
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,826,260
$2.8M
Cap Rate 7%
$2,018,757
$2.0M
Cap Rate 9%
$1,570,144
$1.6M
Market Conditions
NOI Build-Up for 9,150 SF
Gross rent
$241.6K $26.40/SF
− Vacancy
−$53.1K −$5.81/SF
EGI
$188.4K $20.59/SF
− OpEx
−$47.1K −$5.15/SF
NOI
$141.3K $15.44/SF
Area
Albany County, NY
Vacancy
22.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,826,260
Cap Rate 7%
$2,018,757
Cap Rate 9%
$1,570,144
Alternative Uses
Best Use
Office B
$2.02M
$1.77M – $2.36M
NOI $141,313 @ 7.0% cap · market cap 8,564.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.86M
$2.50M – $3.33M
NOI $199,864 @ 7.0% cap · market cap 12,112.97%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
59
Businesses Nearby
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Business Placement
Demographics for 12054, NY
17,282
Population
7,221
Households
2.4
Avg Household Size
46
Median Age
68%
College-Educated
98%
High-School Grad
15.5 sq mi
ZIP Area
1,115
Density / Sq Mi
$128,684
Median Household Income
$69,853
Median Earnings
$1,658
Median Rent
$334,800
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - The street-level suite has an open layout, a private bathroom and off-street parking behind the building.
Where is this office unit located?
The property is located at 394 Elsmere Avenue Bethlehem, NY.
What are key features of this property?
This property features: Approximately 1,030 square feet of office space; Street‑level suite with an open layout and high ceilings; Private bathroom
