Retail Location in
For Sale
$450,000
3986 Main Street, Warrensburg, NY 12885
Retail property with high visibility and ample parking.
Property Size1,546 SF
Lot Size0.26 Acres
Price / SF$291.07
Days on Market159
Property Features for 3986 Main Street
General Information
Standard status
Active
Size
1,546 SF
Lot size
0.26 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$2,650
Amenities
Central air
Garden
Cleared
Forced Air Heating
Level
Off Street
Oil Heating
Paved
Private
Road Frontage
Wall Unit(s) Cooling
Building Details
Year Built
1997
Listing Agency:
WENDY DAVIS REAL ESTATE
(518) 232-0014
Listed By:
WENDY DAVIS · License #10371201970
Source:
Corcoran
Added: Mar 11
Changed: Aug 16
Last Checked: Aug 16 at 5:37AM
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 WENDY DAVIS REAL ESTATE
Investment Insights
Based on property information with market context.
This retail property is located in Warrensburg and offers a location suitable for various business ventures. Currently operating as a florist and gift shop, the property features visibility on Main Street and includes parking. The building has a size of 1546 square feet.
Key Highlights
- Great Main St visibility
- Plenty of parking
- Successful existing business (florist/gift shop)
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
$14,934
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
3.32%
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%
$298,680
$298.7K
Cap Rate 7%
$213,343
$213.3K
Cap Rate 9%
$165,933
$165.9K
Market Conditions
NOI Build-Up for 1,546 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
$23.2K $15.00/SF
− Vacancy
−$1.9K −$1.20/SF
EGI
$21.3K $13.80/SF
− OpEx
−$6.4K −$4.14/SF
NOI
$14.9K $9.66/SF
Area
Warren County, NY
Vacancy
8.00%
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%
$298,680
Cap Rate 7%
$213,343
Cap Rate 9%
$165,933
Alternative Uses
Best Use
Retail
$213.3K
$186.7K – $248.9K
NOI $14,934 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$462.7K
$404.9K – $539.9K
NOI $32,392 @ 7.0% cap · market cap 7.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
55
Businesses Nearby
4k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 100%
Braley Noxon Hardware
Home Improvements & Furnishings
4,102 visits/mo
0.3 miles
Demographics for 12885, NY
4,371
Population
2,724
Households
1.6
Avg Household Size
46
Median Age
17%
College-Educated
84%
High-School Grad
80.3 sq mi
ZIP Area
54
Density / Sq Mi
$65,454
Median Household Income
$49,245
Median Earnings
$1,042
Median Rent
$149,000
Median Home Value
Market
Vacancy Rate% for Retail 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?
Storefront property - Retail property with high visibility and ample parking.
Where is this storefront property located?
The property is located at 3986 Main Street Warrensburg, NY.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Great Main St visibility; Plenty of parking; Successful existing business (florist/gift shop)
