Four-Room Office
New
For Sale
Contact for pricing
505 Henry Street, Utica, NY 13502
The renovated second-floor premises feature hardwood floors and a half bath.
Property Size1,521 SF
Price / SF$0.79
Days on Market2
Property Features for 505 Henry Street
General Information
Standard status
Active
Size
1,521 SF
Space & Availability
Floor
2nd
Condition
Newly Renovated
Additional Details
Property Use
Office
Listing Agency:
Coldwell Banker Faith Properties
(315) 735-2222
Listed By:
John C. Brown · License #10311200206
(315) 570-6640
Source:
Nicholcityrealty
Added: Oct 30
Last Checked: Oct 30 at 3:20PM
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 Coldwell Banker Faith Properties
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Investment Insights
Based on property information with market context.
The entire second level provides 1,521 square feet of office space divided into four rooms. Hardwood flooring extends throughout, and renovation work included a new half bath.
The property is located at 505 Henry Street on the Munson Art Campus in Utica’s Downtown Arts District.
The property is located at 505 Henry Street on the Munson Art Campus in Utica’s Downtown Arts District.
Key Highlights
- Full second floor offers 1,521 square feet
- Four office rooms
- Renovated space with a new half bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,165
Suggested Prices Based on Cap Rates
Cap Rate 5%
$383,300
$383.3K
Cap Rate 7%
$273,786
$273.8K
Cap Rate 9%
$212,944
$212.9K
Market Conditions
NOI Build-Up for 1,521 SF
Gross rent
$31.9K $21.00/SF
− Vacancy
−$6.4K −$4.20/SF
EGI
$25.6K $16.80/SF
− OpEx
−$6.4K −$4.20/SF
NOI
$19.2K $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 Rate 5%
$383,300
Cap Rate 7%
$273,786
Cap Rate 9%
$212,944
Alternative Uses
Best Use
Office B
$273.8K
$239.6K – $319.4K
NOI $19,165 @ 7.0% cap · market cap 1,597.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$400.8K
$350.7K – $467.6K
NOI $28,057 @ 7.0% cap · market cap 2,338.08%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,587
Businesses Nearby
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Business Placement
Demographics for 13502, NY
33,990
Population
15,337
Households
2.2
Avg Household Size
38
Median Age
25%
College-Educated
87%
High-School Grad
51.4 sq mi
ZIP Area
661
Density / Sq Mi
$59,530
Median Household Income
$36,927
Median Earnings
$965
Median Rent
$149,600
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Office unit - The renovated second-floor premises feature hardwood floors and a half bath.
Where is this office unit located?
The property is located at 505 Henry Street Utica, NY.
What are key features of this property?
This property features: Full second floor offers 1,521 square feet; Four office rooms; Renovated space with a new half bath
