Two-Story Office
For Sale
$899,000
425 Grant Avenue Road, Sennett, NY 13021
Renovated main-floor offices include conference rooms, reception, a kitchen area, and flexible clear-span construction.
Property Size12,331 SF
Price / SF$72.91
Days on Market38
Property Features for 425 Grant Avenue Road
General Information
Standard status
Active
Size
12,331 SF
Property subtype
CommercialLease
Listing Agency:
Baier Real Estate LLC
(315) 406-2717
Listed By:
Stephen J. Baier · License #10491213852
(315) 406-2717
Source:
Nicholcityrealty
Added: Jul 24
Changed: Aug 30
Last Checked: Aug 30 at 4:28AM
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 Baier Real Estate LLC
Investment Insights
Based on property information with market context.
This two-story office building provides a flexible commercial configuration across approximately 7,000 SF per level. The main floor has been renovated for office use and includes a reception area, 14 offices, 2 conference rooms, 3 bathrooms, and a small kitchen area. Clear-span construction throughout the structure supports reconfiguration for changing operational requirements.
The property occupies 1.6 acres at 425 Grant Avenue Road in Sennett, NY, with more than 80 on-site parking spaces. Its placement along a busy commercial corridor provides visibility and access for office, administrative, contractor, childcare, medical, personal-service, food-service, and other stated commercial uses.
The property occupies 1.6 acres at 425 Grant Avenue Road in Sennett, NY, with more than 80 on-site parking spaces. Its placement along a busy commercial corridor provides visibility and access for office, administrative, contractor, childcare, medical, personal-service, food-service, and other stated commercial uses.
Key Highlights
- Two‑story commercial building with approximately 7,000 SF per level
- Renovated main floor includes 14 offices, 2 conference rooms, 3 bathrooms, reception, and a small kitchen
- Clear‑span construction allows flexible interior reconfiguration
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
$76,264
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
8.48%
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%
$1,525,280
$1.5M
Cap Rate 7%
$1,089,486
$1.1M
Cap Rate 9%
$847,378
$847.4K
Market Conditions
NOI Build-Up for 12,331 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
$116.9K $9.48/SF
− Vacancy
−$7.9K −$0.64/SF
EGI
$108.9K $8.84/SF
− OpEx
−$32.7K −$2.65/SF
NOI
$76.3K $6.18/SF
Area
Cayuga 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%
$1,525,280
Cap Rate 7%
$1,089,486
Cap Rate 9%
$847,378
Alternative Uses
Best Use
Flex RnD
$2.21M
$1.94M – $2.58M
NOI $154,853 @ 7.0% cap · market cap 17.23%
Second Best
Office B
$2.19M
$1.92M – $2.56M
NOI $153,428 @ 7.0% cap · market cap 17.07%
Theoretical Best
Office A
$2.73M
$2.39M – $3.19M
NOI $191,298 @ 7.0% cap · market cap 21.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
111
Businesses Nearby
Explore this area
Business Placement
Demographics for 13021, NY
38,479
Population
18,847
Households
2
Avg Household Size
44
Median Age
27%
College-Educated
91%
High-School Grad
119.2 sq mi
ZIP Area
323
Density / Sq Mi
$58,946
Median Household Income
$41,990
Median Earnings
$874
Median Rent
$169,300
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Renovated main-floor offices include conference rooms, reception, a kitchen area, and flexible clear-span construction.
Where is this office building located?
The property is located at 425 Grant Avenue Road Sennett, NY.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Two‑story commercial building with approximately 7,000 SF per level; Renovated main floor includes 14 offices, 2 conference rooms, 3 bathrooms, reception, and a small kitchen; Clear‑span construction allows flexible interior reconfiguration
