Listing Agency: Bell Home Team k**@bellhometeam.com Show Phone

Listed By: Jennifer DeCook Show Phone

Source: Exprealty

Added: May 27 Changed: Aug 20 Last Checked: Sep 5 at 10:46AM

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Investment Insights

Based on property information with market context.

This property includes a garage/workshop with an office or “man cave” area. The prior older single wide mobile home has been removed. A well and septic are on site and currently in use, supporting the existing site setup.

The site is offered for sale on approximately 0.70 acres. Because permissible uses may vary, prospective buyers are advised to check with the town regarding what is allowed for the property.

With a combined work and office configuration and existing utilities, the property is suited for buyers seeking a small flex-style layout where on-site services are already in place.

Key Highlights

• Garage/workshop with an on‑site office or “man cave” on 0.70 acres
• Well and septic are on site and currently in use
• Older single wide mobile home previously on the property has been removed

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

$4,849

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

8.08%

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%

$96,980 $97.0K

Cap Rate 7%

$69,271 $69.3K

Cap Rate 9%

$53,878 $53.9K

Market Conditions

NOI Build-Up for 784 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

$7.4K $9.48/SF

− Vacancy

−$505 −$0.64/SF

EGI

$6.9K $8.84/SF

− OpEx

−$2.1K −$2.65/SF

NOI

$4.8K $6.18/SF

Area

Oswego 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%

$96,980

Cap Rate 7%

$69,271

Cap Rate 9%

$53,878

Alternative Uses

Best Use

Flex RnD

$144.7K

$126.6K – $168.8K (±1% cap)

NOI $10,127 @ 7.0% cap · market cap 16.88%

Second Best

Industrial

$69.3K

$60.6K – $80.8K (±1% cap)

NOI $4,849 @ 7.0% cap · market cap 8.08%

Theoretical Best

Office A

$156.4K

$136.8K – $182.4K (±1% cap)

NOI $10,946 @ 7.0% cap · market cap 18.24%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Suggested Use

Top Pick Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

5

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 13167, NY

3,263

Population

1,339

Households

2.4

Avg Household Size

43

Median Age

18%

College-Educated

87%

High-School Grad

36.7 sq mi

ZIP Area

89

Density / Sq Mi

$74,700

Median Household Income

$41,538

Median Earnings

$1,228

Median Rent

$164,200

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Flex space - Garage/workshop with an on-site office, supported by active well and septic services.

Where is this flex space located?

The property is located at 48 County Route 26 West Monroe, NY.

What is the asking price?

The asking price for this property is $60,000.

What are key features of this property?

This property features: Garage/workshop with an on‑site office or “man cave” on 0.70 acres; Well and septic are on site and currently in use; Older single wide mobile home previously on the property has been removed