Commercial Building with Residential
For Sale
Contact for pricing
4338 NY-90, Union Springs, NY
Commercial building with shop, garage, office, and residential space.
Property Size4,176 SF
Lot Size2.66 Acres
Price / SF$234.43
Days on Market427
Property Features for 4338 NY-90
General Information
Standard status
Active
Size
4,176 SF
Lot size
2.66 Acres
Property subtype
INDUSTRIAL
Listing Agency:
Hunt Commercial - Rochester
(585) 737-4055
Listed By:
Thomas Lockwood
(585) 737-4055
Source:
Moodyscre
Added: Jun 20, 2025
Changed: Jul 10
Last Checked: Aug 19 at 6:37AM
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 Hunt Commercial - Rochester
Investment Insights
Based on property information with market context.
This commercial property features a 4000 square foot Morton-style building, completed in 2010, with an additional residence spanning over 1200 square feet. The building is located on Cayuga Lake Scenic Byway, Route 90, and offers lake views. The structure includes two-colored metal siding, a metal roof, a 6-inch poured concrete floor, and a 10-foot ceiling height. An appealing covered front porch, measuring 8 feet by 24 feet, provides double entrance doors to the shop area. The property includes a parking area in the front and on the north side. The building layout features a 28-foot by 72-foot garage area and a 20-foot by 72-foot front area. The garage area is equipped with a 220v Shultz, 2-phase commercial-grade air compressor with a 7 1/2 hp motor and an 80-gallon tank, as well as a commercial-grade two-post asymmetric arm lift with a 9000 lbs capacity. Compressed air is supplied throughout the garage area, which also includes a 16-foot by 12-foot work room. The garage area can accommodate approximately eight vehicles. Access to the garage is available via the north side of the building through two overhead doors and a pedestrian door. The front area includes a 20-foot by 40-foot shop area with a double door entrance, an 8-foot by 8-foot mini kitchen, an 8-foot by 8-foot full bath, and an approximately 280 square foot office area. This front area is insulated and has a 9-foot drop ceiling with electric heat. The back of the building features a large covered area, measuring 12 feet by 60 feet, which includes a 10-foot by 10-foot enclosed storage area for lawn equipment with a 7x7 overhead door. This commercial property could be used for a variety of businesses including: an auto hobbyist garage, a small brewery/vineyard and or a coffee shop.
Key Highlights
- 4000 sq ft commercial building with over 1200 sq ft residence
- Located on Cayuga Lake Scenic Byway (Rt 90) with lake views
- Equipped with a 220v commercial air compressor and a 9000 lbs capacity two‑post car lift
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
$42,006
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
4.29%
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%
$840,120
$840.1K
Cap Rate 7%
$600,086
$600.1K
Cap Rate 9%
$466,733
$466.7K
Market Conditions
NOI Build-Up for 4,176 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
$62.6K $15.00/SF
− Vacancy
−$2.6K −$0.63/SF
EGI
$60.0K $14.37/SF
− OpEx
−$18.0K −$4.31/SF
NOI
$42.0K $10.06/SF
Area
Cayuga County, NY
Vacancy
4.20%
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%
$840,120
Cap Rate 7%
$600,086
Cap Rate 9%
$466,733
Alternative Uses
Best Use
Retail
$600.1K
$525.1K – $700.1K
NOI $42,006 @ 7.0% cap · market cap 4.29%
Second Best
Warehouse
$448.0K
$392.0K – $522.7K
NOI $31,362 @ 7.0% cap · market cap 3.20%
Theoretical Best
Office A
$925.5K
$809.8K – $1.08M
NOI $64,785 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
99
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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?
Warehouse - Commercial building with shop, garage, office, and residential space.
Where is this warehouse located?
The property is located at 4338 NY-90 Union Springs, NY.
What is the asking price?
The asking price for this property is $979,000.
What are key features of this property?
This property features: 4000 sq ft commercial building with over 1200 sq ft residence; Located on Cayuga Lake Scenic Byway (Rt 90) with lake views; Equipped with a 220v commercial air compressor and a 9000 lbs capacity two‑post car lift
