Flex Showroom and
For Sale
$1,175,000
4602 State Route 233, Clinton, NY 13323
A flex layout combining showroom, offices, and warehouse space with radiant heated floors and overhead door access.
Property Size7,335 SF
Price / SF$160.19
Days on Market74
Property Features for 4602 State Route 233
General Information
Standard status
Active
Size
7,335 SF
Warehouse & Industrial
Clear Height
18 ft
Drive-In Doors
1
Listing Agency:
Howard Hanna Cny Inc
(315) 796-8672
Listed By:
Tess Johnson
(315) 796-8672
Source:
Exprealty
Added: May 28
Changed: Jul 10
Last Checked: Aug 9 at 9:53AM
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 Cny Inc
Investment Insights
Based on property information with market context.
This versatile commercial property offers approximately 7,335 SF across showroom, office, warehouse, and storage areas. The building features 18’ ceilings, radiant heated floors, and an open layout designed to support day-to-day operations across multiple uses. Oversized overhead door access supports efficient loading and movement, while the front showroom provides a dedicated customer-facing space. Attached office space includes an elevated office overlooking the main floor, supporting both administrative work and on-site oversight.
The property includes ample on-site parking and maneuvering space to accommodate arrivals, deliveries, and daily operations. Exterior improvements include blacktop resurfacing prior to closing, providing a refreshed appearance for the next owner.
The combination of showroom frontage, office configuration, and open warehouse area makes the space well suited for owner-users and operators that need integrated work and customer space, including automotive, contractor, light industrial, warehouse, showroom, or storage uses. Its multi-functional layout also supports consideration of multiple rental tenants or shared commercial occupancy, subject to the buyer’s operating plan and approval requirements.
The property includes ample on-site parking and maneuvering space to accommodate arrivals, deliveries, and daily operations. Exterior improvements include blacktop resurfacing prior to closing, providing a refreshed appearance for the next owner.
The combination of showroom frontage, office configuration, and open warehouse area makes the space well suited for owner-users and operators that need integrated work and customer space, including automotive, contractor, light industrial, warehouse, showroom, or storage uses. Its multi-functional layout also supports consideration of multiple rental tenants or shared commercial occupancy, subject to the buyer’s operating plan and approval requirements.
Key Highlights
- Approximately 7,335 SF flex commercial building with showroom, office, warehouse, and storage space
- 18' ceilings, radiant heated floors, and an open layout for equipment, inventory, fabrication, or daily operations
- Oversized overhead door access for warehouse and loading use
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
$92,421
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
7.87%
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%
$1,848,420
$1.8M
Cap Rate 7%
$1,320,300
$1.3M
Cap Rate 9%
$1,026,900
$1.0M
Market Conditions
NOI Build-Up for 7,335 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
$154.0K $21.00/SF
− Vacancy
−$30.8K −$4.20/SF
EGI
$123.2K $16.80/SF
− OpEx
−$30.8K −$4.20/SF
NOI
$92.4K $12.60/SF
Area
Oneida County, NY
Vacancy
20.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,848,420
Cap Rate 7%
$1,320,300
Cap Rate 9%
$1,026,900
Alternative Uses
Best Use
Office B
$1.32M
$1.16M – $1.54M
NOI $92,421 @ 7.0% cap · market cap 7.87%
Second Best
Flex RnD
$791.2K
$692.3K – $923.0K
NOI $55,382 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$1.93M
$1.69M – $2.26M
NOI $135,304 @ 7.0% cap · market cap 11.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
18 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
64
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13323, NY
11,415
Population
4,664
Households
2.4
Avg Household Size
43
Median Age
49%
College-Educated
97%
High-School Grad
38.9 sq mi
ZIP Area
293
Density / Sq Mi
$82,060
Median Household Income
$42,768
Median Earnings
$1,126
Median Rent
$231,600
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?
Flex space - A flex layout combining showroom, offices, and warehouse space with radiant heated floors and overhead door access.
Where is this flex space located?
The property is located at 4602 State Route 233 Clinton, NY.
What is the asking price?
The asking price for this property is $1,175,000.
What are key features of this property?
This property features: Approximately 7,335 SF flex commercial building with showroom, office, warehouse, and storage space; 18' ceilings, radiant heated floors, and an open layout for equipment, inventory, fabrication, or daily operations; Oversized overhead door access for warehouse and loading use
