Building Details

Buildings 1

Building Size 4,000 SF

Abandoned No

Listing Agency: Hunt Real Estate ERA k***@yahoo.com Show Phone

Listed By: Kristopher P. Joseph Show Phone

Source: Nicholcityrealty

Added: Aug 18 Changed: Aug 30 Last Checked: Aug 25 at 9:53AM

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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 Hunt Real Estate ERA

Investment Insights

Based on property information with market context.

Located at 5666 Horatio Street in Utica, this 4,000-square-foot commercial building is configured for automotive operations. The 1975-built property includes several service bays in different sizes, multiple oversized overhead doors, full building heat, and dedicated office areas for administrative or customer-facing functions. It is currently occupied by a family-owned automotive body shop.

The property is directly adjacent to and visible from Route 12, providing exposure to passing traffic. A large lot provides front-of-building parking, while additional space behind the structure is available for vehicle or equipment storage. The property is zoned c, Commercial.

Key Highlights

• 4,000‑square‑foot commercial building constructed in 1975
• Multiple automotive service bays with varying dimensions
• Multiple oversized overhead doors and full building heat

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

$40,236

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

5.76%

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%

$804,720 $804.7K

Cap Rate 7%

$574,800 $574.8K

Cap Rate 9%

$447,067 $447.1K

Market Conditions

NOI Build-Up for 4,000 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

$60.0K $15.00/SF

− Vacancy

−$2.5K −$0.63/SF

EGI

$57.5K $14.37/SF

− OpEx

−$17.2K −$4.31/SF

NOI

$40.2K $10.06/SF

Area

Oneida County, NY

Vacancy

4.20%

Lease Rate

$15.00 /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%

$804,720

Cap Rate 7%

$574,800

Cap Rate 9%

$447,067

Alternative Uses

Best Use

Retail

$574.8K

$503.0K – $670.6K (±1% cap)

NOI $40,236 @ 7.0% cap · market cap 5.76%

Second Best

Flex RnD

$431.5K

$377.5K – $503.4K (±1% cap)

NOI $30,202 @ 7.0% cap · market cap 4.32%

Theoretical Best

Office A

$1.05M

$922.3K – $1.23M (±1% cap)

NOI $73,786 @ 7.0% cap · market cap 10.56%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

U-Haul Neighborhood Dealer Car Rental Facility Beacon Body Shop ... Auto Repair Shop

Suggested Use

Top Pick Building Supply Restaurant Law Firm Spa & Massage Center Big Box & Wholesale Store HVAC Service

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

Lease Details

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

93

Businesses Nearby

Well-served

Demand for This Use

Explore this area 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

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 auto shops located? What is the asking price? Find similar properties ... What are key features of this property?

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Similar Off Market Nearby

• Dimmick Group Peterbilt - Utica — 5636 Horatio St, Utica, NY 13502
• Carbone Cadillac of Utica — 5700 horatio st, utica, ny 13502
• Carbone Buick GMC of Utica Service and Parts Center — 5700 horatio st, utica, ny 13502
• Beacon Body Shop Plus LLC — 5666 Horatio St, Utica, NY 13502
• LeadCar GMC Utica Service — 5700 Horatio St #200, Utica, NY 13502

Frequently Asked Questions

What type of property is this?

Auto shop - The building includes heated service bays, oversized overhead doors, and dedicated office areas.

Where is this auto shop located?

The property is located at 5666 Horatio Street Deerfield, NY.

What is the asking price?

The asking price for this property is $699,000.

What are key features of this property?

This property features: 4,000‑square‑foot commercial building constructed in 1975; Multiple automotive service bays with varying dimensions; Multiple oversized overhead doors and full building heat