Flex Space with Two
For Sale
$159,000
4005 N Main Street Extension, Jamestown, NY 14701
COMMERCIAL - Jamestown, NY
Property Size1,824 SF
Lot Size0.92 Acres
Price / SF$87.17
Days on Market62
Property Features for 4005 N Main Street Extension
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
210
Zoning description
Residential 1 Unit
Parking
12
Parking features
Driveway
Lot features
Rectangular, Rectangular Lot
Elementary school
Cassadaga Elementary
High school
Cassadaga Valley High
Elementary school district
Cassadaga Valley
Middle school district
Cassadaga Valley
High school district
Cassadaga Valley
Subdivision
Gerry-064489
Standard status
Active
APN
064489-319-017-0002-033-000
Size
1,824 SF
Lot size
0.92 Acres
Taxes and HOA fees
Tax Annual Amount
3777
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas
Building Details
Year built
1950
Floors in Building
1
Flooring type
Concrete, Linoleum, Vinyl
Roof type
Metal
Listing Agency:
Century 21 Turner Brokers · Century 21 Real Estate
(716) 763-7506
Listed By:
Daniel Terhune · License #10301217717
(716) 969-1702
Added: Jun 19
Changed: Aug 19
Last Checked: Aug 19 at 6:06PM
MLS# R1691393
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,824-square-foot flex property was built in 1950 and combines usable interior space with two garages that can support storage needs. Existing finishes include concrete, linoleum, and vinyl flooring, while natural gas provides heating. The building may accommodate office, retail storefront, or spa use, subject to applicable approvals.
Set along Route 60 between Falconer and Gerry, the property is near I-86 and the New York State Thruway. Approximately 0.92 acres accompany the building, with about 12 off-street parking spaces served by a driveway. The site uses a septic tank and has a metal roof.
Set along Route 60 between Falconer and Gerry, the property is near I-86 and the New York State Thruway. Approximately 0.92 acres accompany the building, with about 12 off-street parking spaces served by a driveway. The site uses a septic tank and has a metal roof.
Key Highlights
- 1,824 square feet of usable building area
- Two garages provide additional storage‑oriented space
- Approximately 12 off‑street parking spaces
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
$11,281
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
7.09%
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%
$225,620
$225.6K
Cap Rate 7%
$161,157
$161.2K
Cap Rate 9%
$125,344
$125.3K
Market Conditions
NOI Build-Up for 1,824 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
$17.3K $9.48/SF
− Vacancy
−$1.2K −$0.64/SF
EGI
$16.1K $8.84/SF
− OpEx
−$4.8K −$2.65/SF
NOI
$11.3K $6.18/SF
Area
Chautauqua County, NY
Vacancy
6.80%
Lease Rate
$9.48 /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%
$225,620
Cap Rate 7%
$161,157
Cap Rate 9%
$125,344
Alternative Uses
Best Use
Flex RnD
$226.8K
$198.5K – $264.6K
NOI $15,878 @ 7.0% cap · market cap 9.99%
Second Best
Industrial
$161.2K
$141.0K – $188.0K
NOI $11,281 @ 7.0% cap · market cap 7.09%
Theoretical Best
Office A
$545.9K
$477.7K – $636.9K
NOI $38,216 @ 7.0% cap · market cap 24.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14701, NY
38,428
Population
19,469
Households
2
Avg Household Size
42
Median Age
25%
College-Educated
90%
High-School Grad
92.6 sq mi
ZIP Area
415
Density / Sq Mi
$50,909
Median Household Income
$34,592
Median Earnings
$769
Median Rent
$98,400
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?
Flex space - Adaptable building with office, retail, and storage potential, plus driveway parking and natural gas heat.
Where is this flex space located?
The property is located at 4005 N Main Street Extension Jamestown, NY.
What is the asking price?
The asking price for this property is $159,000.
What are key features of this property?
This property features: 1,824 square feet of usable building area; Two garages provide additional storage‑oriented space; Approximately 12 off‑street parking spaces
