Leased Flex Space with
For Sale
$1,143,625
49 Sicker Road, Latham, NY 12110
Fully leased office-and-warehouse property with dock and grade-level loading access.
Property Size11,250 SF
Price / SF$101.66
Days on Market90
Property Features for 49 Sicker Road
General Information
Standard status
Active
Size
11,250 SF
Property subtype
Industrial
Occupancy
100%
Amenities
dock doors
grade doors
Building Details
Buildings
1
Building Size
11,250 SF
Tenancy
Single
Owner Occupied
No
Listing Agency:
CBRE | Albany
(518) 312-7171
Listed By:
Dan Davitt · License #Associate Real Estate Broker
(518) 312-7171
Source:
Cbre
Added: Jun 2
Changed: Aug 30
Last Checked: Aug 30 at 12:18AM
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 CBRE | Albany
Investment Insights
Based on property information with market context.
This flex space combines office and warehouse functions within an approximately 11,250-square-foot building. The facility includes multiple dock doors and grade-level doors, supporting a range of receiving, storage, and operational needs.
The property is fully leased to Eckert Mechanical, an area mechanical contractor serving the Northeast since 1987. Located at 49 Sicker Road in Latham, NY, the asset offers an existing income-producing configuration with both office and industrial components.
The property is fully leased to Eckert Mechanical, an area mechanical contractor serving the Northeast since 1987. Located at 49 Sicker Road in Latham, NY, the asset offers an existing income-producing configuration with both office and industrial components.
Key Highlights
- Approximately 11,250 SF combination office/warehouse building
- Fully leased to Eckert Mechanical
- Multiple dock doors and grade doors
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
$104,203
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
9.11%
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%
$2,084,060
$2.1M
Cap Rate 7%
$1,488,614
$1.5M
Cap Rate 9%
$1,157,811
$1.2M
Market Conditions
NOI Build-Up for 11,250 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
$168.8K $15.00/SF
− Vacancy
−$8.4K −$0.75/SF
EGI
$160.3K $14.25/SF
− OpEx
−$56.1K −$4.99/SF
NOI
$104.2K $9.26/SF
Area
Albany County, NY
Vacancy
5.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
35.00%
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%
$2,084,060
Cap Rate 7%
$1,488,614
Cap Rate 9%
$1,157,811
Alternative Uses
Best Use
Office B
$2.48M
$2.17M – $2.90M
NOI $173,745 @ 7.0% cap · market cap 15.19%
Second Best
Warehouse
$1.83M
$1.60M – $2.14M
NOI $128,336 @ 7.0% cap · market cap 11.22%
Theoretical Best
Office A
$3.51M
$3.07M – $4.10M
NOI $245,735 @ 7.0% cap · market cap 21.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
402
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12110, NY
19,682
Population
8,269
Households
2.4
Avg Household Size
44
Median Age
46%
College-Educated
93%
High-School Grad
14.3 sq mi
ZIP Area
1,376
Density / Sq Mi
$101,839
Median Household Income
$53,658
Median Earnings
$1,431
Median Rent
$306,100
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 - Fully leased office-and-warehouse property with dock and grade-level loading access.
Where is this flex space located?
The property is located at 49 Sicker Road Latham, NY.
What is the asking price?
The asking price for this property is $1,143,625.
What are key features of this property?
This property features: Approximately 11,250 SF combination office/warehouse building; Fully leased to Eckert Mechanical; Multiple dock doors and grade doors
