Multifamily
New
For Sale
$199,900
627 Plant st, Utica, NY 13502
The building offers an adaptable footprint in a highly walkable setting.
Property Size2,170 SF
Days on Market3
Property Features for 627 Plant st
General Information
Standard status
Active
Size
2,170 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$200
Building Details
Building Size
2,170 SF
Year Built
1900
Stories
2
Units
2
Listing Agency:
Assist2Sell Buyer's & Seller's 1st Choice
Listed By:
Brandyn Miller · License #10401395562
(315) 481-3971
Source:
Elliman
Added: Sep 1
Last Checked: Sep 2 at 8:21PM
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 Assist2Sell Buyer's & Seller's 1st Choice
Investment Insights
Based on property information with market context.
Located at 627 Plant St in Utica, this multifamily property was constructed in 1900 and provides an expansive footprint for renovation or reconfiguration. The adaptable space can accommodate a range of future concepts, subject to applicable approvals and buyer evaluation.
The property carries a walk score of 87, classified as Very Walkable, along with a bike score of 50, classified as Bikeable. Select listing images use virtual staging or AI enhancements to illustrate possible design directions. Public tax records may not reflect standard assessment rates because the land previously served nonprofit religious purposes; future assessments should be verified with the municipality.
The property carries a walk score of 87, classified as Very Walkable, along with a bike score of 50, classified as Bikeable. Select listing images use virtual staging or AI enhancements to illustrate possible design directions. Public tax records may not reflect standard assessment rates because the land previously served nonprofit religious purposes; future assessments should be verified with the municipality.
Key Highlights
- Multifamily property at 627 Plant St, Utica, NY 13502
- Constructed in 1900
- Expansive footprint suitable for customization and reconfiguration
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
$18,064
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
9.04%
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%
$361,280
$361.3K
Cap Rate 7%
$258,057
$258.1K
Cap Rate 9%
$200,711
$200.7K
Market Conditions
NOI Build-Up for 2,170 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
$35.2K $16.20/SF
− Vacancy
−$2.3K −$1.06/SF
EGI
$32.8K $15.14/SF
− OpEx
−$14.8K −$6.81/SF
NOI
$18.1K $8.32/SF
Area
Oneida County, NY
Vacancy
6.57%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$361,280
Cap Rate 7%
$258,057
Cap Rate 9%
$200,711
Alternative Uses
Best Use
Apartment 5plus
$258.1K
$225.8K – $301.1K
NOI $18,064 @ 7.0% cap · market cap 9.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$571.8K
$500.4K – $667.2K
NOI $40,029 @ 7.0% cap · market cap 20.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,288
Businesses Nearby
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - The building offers an adaptable footprint in a highly walkable setting.
Where is this multifamily property located?
The property is located at 627 Plant st Utica, NY.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Multifamily property at 627 Plant St, Utica, NY 13502; Constructed in 1900; Expansive footprint suitable for customization and reconfiguration
