Schenectady Commercial Opportunity For
For Sale
$400,000
Pending
440 Peek Street, Schenectady, NY 12308
Commercial property suitable for automotive, manufacturing, or service businesses.
Property Size2,700 SF
Lot Size0.49 Acres
Days on Market235
Property Features for 440 Peek Street
General Information
Standard status
Pending
Size
2,700 SF
Lot size
0.49 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,287
Amenities
Gravel
Private
Building Details
Year Built
1972
Listing Agency:
HOWARD HANNA CAPITAL INC
(518) 371-4500
Listed By:
JOSEPH P CARDINALE · License #10401290174
Source:
Corcoran
Added: Jan 7
Changed: Aug 8
Last Checked: Jul 23 at 8:42AM
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 HOWARD HANNA CAPITAL INC
Investment Insights
Based on property information with market context.
This commercial property in Schenectady offers an opportunity for vehicle fleet operations, featuring approximately 0.5 acres of yard space suitable for a fenced and secured setup. Located at 440 Peek Street, the property is suited for automotive repair, light manufacturing, or service-oriented businesses. It features flexible zoning, a spacious lot, and convenient access to major transportation routes, facilitating efficient operations and customer accessibility. The property contains 2700 square feet of space. This location is suitable for established operators looking to expand and entrepreneurs seeking a location to launch their business in an improving commercial corridor.
Key Highlights
- Large, roughly 0.5‑acre yard space suitable for vehicle fleet operations.
- Fully fenced and secured setup potential.
- Flexible zoning suitable for automotive repair, light manufacturing, or service‑oriented businesses.
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
$32,591
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
8.15%
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%
$651,820
$651.8K
Cap Rate 7%
$465,586
$465.6K
Cap Rate 9%
$362,122
$362.1K
Market Conditions
NOI Build-Up for 2,700 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
$48.6K $18.00/SF
− Vacancy
−$2.0K −$0.76/SF
EGI
$46.6K $17.24/SF
− OpEx
−$14.0K −$5.17/SF
NOI
$32.6K $12.07/SF
Area
Schenectady County, NY
Vacancy
4.20%
Lease Rate
$18.00 /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%
$651,820
Cap Rate 7%
$465,586
Cap Rate 9%
$362,122
Alternative Uses
Best Use
Retail
$465.6K
$407.4K – $543.2K
NOI $32,591 @ 7.0% cap · market cap 8.15%
Second Best
Industrial
$238.6K
$208.7K – $278.3K
NOI $16,699 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$808.1K
$707.1K – $942.8K
NOI $56,570 @ 7.0% cap · market cap 14.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
771
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12308, NY
15,285
Population
6,442
Households
2.4
Avg Household Size
31
Median Age
29%
College-Educated
89%
High-School Grad
2.3 sq mi
ZIP Area
6,646
Density / Sq Mi
$59,789
Median Household Income
$35,966
Median Earnings
$1,159
Median Rent
$180,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Automotive property - Commercial property suitable for automotive, manufacturing, or service businesses.
Where is this automotive property located?
The property is located at 440 Peek Street Schenectady, NY.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Large, roughly 0.5‑acre yard space suitable for vehicle fleet operations.; Fully fenced and secured setup potential.; Flexible zoning suitable for automotive repair, light manufacturing, or service‑oriented businesses.
