Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search

    505 Henry Street Utica, NY 13502

    View on Map
    Claim this Listing
    For Lease
    $1,500/Mo $11 SF/Yr (calc)

    COMMERCIAL - Utica, NY

    Property size:
    1,521 SF
    Added:
    Feb 3, 2026
    Days on Market:
    93
    Last Refresh:
    May 7 at 12:06 am

    Property Features for 505 Henry Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    16005
    Standard status
    Active
    APN
    318.57-1-23
    Size
    1,521 SF

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Water source
    Public

    Building Details

    Year built
    1880
    Floors in Building
    2
    Roof type
    Asphalt

    We can help!

    Listing Contact
    John C. Brown
    John C. Brown

    Listing agent John C. Brown License #10311200206

    Listing office Coldwell Banker Faith Properties 2811 Genesee St, Utica, NY

    Listing date Feb 3, 2026

    MLS# S1660707

    Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime location in Utica's Downtown Arts District on the Munson Art Campus.
    • Fully renovated 2nd floor office space.
    • Gleaming hardwood floors throughout.
    • Four spacious rooms suitable for offices.
    • New 1/2 bath.
    • Heating: Natural Gas, Forced Air.

    Overview

    Downtown Utica Office Space For Rent

    Available for rent is quality office space situated in the heart of Utica's Downtown Arts District, specifically located on the Munson Art Campus. The property features gleaming hardwood floors throughout and includes 4 spacious rooms suitable for offices. The full 2nd floor, encompassing 1521 square feet, is being offered. The space has been fully renovated and includes a new 1/2 bath.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Utica
    County
    Oneida
    State
    New York
    Longitude
    -75.242165
    Latitude
    43.097784

    Nearby Similar for Lease

    • $1,700/Mo

      Bright Utica Commercial Space Available

      Spacious second-floor commercial space in Franklin Square, Utica.
      421 Seneca Street, Utica, NY 13502
      View Details
    • $2,200/Mo

      Utica Office Space For Rent

      Spacious office suite with high visibility and ample parking.
      2427 Chenango Road, Utica, NY 13502
      View Details
    • $800/Mo

      Turn-Key Flex Space Available

      Professional flex space for lease with shared amenities in Utica.
      2219 Genesee Street, Utica, NY 13501
      View Details
    • $399,999 SF/Yr

      Remodeled Office Building in Utica

      Remodeled office building in high-traffic area, suitable for various uses.
      320 Herkimer Road, Utica, NY 13502
      View Details
    • $2,200/Mo

      Office Suite with High Visibility

      Office suite with multiple private offices and on-site parking.
      2427 Chenango Rd, Utica, NY 13502
      View Details
    • $1,500/Mo

      Downtown Utica Office Space Available

      Renovated office space in Utica's Downtown Arts District.
      505 Henry St, Utica, NY 13502
      View Details
    • $1,500/Mo

      Downtown Utica Office Space For Sale

      Office space in Downtown Utica, near courthouse and new hospital.
      610 Charlotte St, Utica, NY
      View Details
    • $8 SF/Yr

      Utica Business Park Flex Space

      Medical/office/flex space in Utica Business Park for rent.
      6 Rhoads Dr, Utica, NY
      View Details
    • $2,900/Mo

      Former Restaurant with Drive-Thru

      Downtown Utica restaurant space with drive-thru and parking.
      326 Genesee St, Utica, NY
      View Details
    • $2,500/Mo

      Brewery District Restaurant/Bar Space

      Partially renovated bar and restaurant space in the Brewery District.
      728730 Columbia St, Utica, NY
      View Details
    • $8 SF/Yr

      Flexible Space Available For Lease

      Up to 11,003 SF flexible space ideal for various uses.
      506 Nichols St, Utica, NY
      View Details
    • $12 SF/Yr

      Office Space in Bagg's Square

      Office space for rent in mixed-use building, build-to-suit.
      421423 Broad St, Utica, NY
      View Details

    FAQs

    What type of property is this?
    Office units - Renovated office space in Utica's Downtown Arts District.
    Where is this office units located?
    The property is located at 505 Henry Street Utica, NY.
    What is the lease rate?
    The lease rate is $1,500 /Mo.
    What are key features of this property?
    This property features: Prime location in Utica's Downtown Arts District on the Munson Art Campus.; Fully renovated 2nd floor office space.; Gleaming hardwood floors throughout.
    (315) 570-6640
    We can help!
    Listing Contact
    John C. Brown
    John C. Brown
    Real Estate License ID: 10311200206
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    505 Henry Street, Utica, NY 13502
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!