Prime Commercial Property on Route
For Sale
$699,000
5666 Horatio Street, Utica, NY 13502
4,000 SF commercial building with high visibility on Route 12.
Property Size4,000 SF
Price / SF$174.75
Days on Market170
Property Features for 5666 Horatio Street
General Information
Standard status
Active
Size
4,000 SF
Total Parking Spaces
100
Property subtype
Commercial
Zoning
c, Commercial
Taxes and HOA fees
Annual Taxes
$12,892
Building Details
Building Size
4,000 SF
Year Built
1975
Buildings
1
Stories
1
Listing Agency:
Hunt Real Estate ERA
(315) 725-1023
Listed By:
Kristopher P. Joseph
(315) 725-1023
Source:
Wcirealty
Added: Mar 6
Changed: Aug 23
Last Checked: Aug 23 at 5:17AM
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.
This 4,000-square-foot commercial building is located directly adjacent to and clearly visible from Route 12. The property is the current home to a long-standing family-owned automotive body shop. The building is fully heated and offers multiple bays of varying sizes with multiple oversized overhead doors. It also features dedicated office areas for administrative tasks, customer consultations, or employee workspace. The large lot offers ample front parking and easy access for patrons, with space behind the building suitable for vehicle or equipment storage and potential expansion of the current structure or addition of another building. The property is located on Route 12, providing maximum visibility and exposure to thousands of drivers daily. The location has a walk score of 58, indicating it is somewhat walkable, and a bike score of 51, indicating it is bikeable. The property is suitable for automotive services, industrial uses, or other commercial uses.
Key Highlights
- Prime location directly on highly traveled Route 12 ensures maximum visibility and exposure.
- 4,000 sq ft commercial building with multiple bays and oversized overhead doors** suitable for various business needs.
- Proven track record of success as the current home of a long‑standing, reputable business.
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
NOI $40,236 @ 7.0% cap · market cap 5.76%
Second Best
Industrial
$353.4K
$309.2K – $412.3K
NOI $24,739 @ 7.0% cap · market cap 3.54%
Theoretical Best
Office A
$1.05M
$922.3K – $1.23M
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
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
4k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Don's Ford
Shops & Services
2,491 visits/mo
0.1 miles
Dimmick Group Peterbilt
Shops & Services
1,016 visits/mo
0.2 miles
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 Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
- LeadCar GMC Utica Service — 5700 Horatio St #200, Utica, NY 13502
- Beacon Body Shop Plus LLC — 5666 Horatio St, Utica, NY 13502
Frequently Asked Questions
What type of property is this?
Auto shop - 4,000 SF commercial building with high visibility on Route 12.
Where is this auto shop located?
The property is located at 5666 Horatio Street Utica, 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: Prime location directly on highly traveled Route 12 ensures maximum visibility and exposure.; 4,000 sq ft commercial building with multiple bays and oversized overhead doors** suitable for various business needs.; Proven track record of success as the current home of a long‑standing, reputable business.
