Warehouse with Commercial
For Sale
$225,000
Pending
6898-6902 Rt 22, Plattsburgh, NY 12901
Commercial Sale, Plattsburgh, NY
Property Size2,400 SF
Lot Size0.99 Acres
Days on Market382
Property Features for 6898-6902 Rt 22
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Parking features
Parking Lot
Elementary school district
Beekmantown
Middle school district
Beekmantown
High school district
Beekmantown
Subdivision
Plattsburgh, Beekmantown
Standard status
Pending
APN
165.4-2-10
Size
2,400 SF
Lot size
0.99 Acres
Taxes and HOA fees
Tax Annual Amount
819
Utilities
Utilities
Cable Available
Sewer type
Septic Tank
Water source
Well
Building Details
Year built
1989
Roof type
Metal
Listing Agency:
Century 21 The One · Century 21 Real Estate
(518) 563-7350
Listed By:
Scott Thurber
(518) 524-4275
Added: Sep 11, 2025
Changed: Aug 19
Last Checked: Sep 27 at 6:06AM
MLS# 205749
Copyright © 2026 Adirondack Champlain Valley MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial warehouse property includes a 2,400-square-foot building on a 0.99-acre parcel. Constructed in 1989, the facility has a metal roof, two separate electrical services, a drilled well, and an existing septic tank. A parking lot provides on-site vehicle accommodation.
The property is located at 6898-6902 Rt 22 in Plattsburgh, near the Beekmantown School District’s main campus. Its setting is described as a high-traffic area, with the parcel positioned for access and exposure along the route. Commercial zoning, established site infrastructure, cable availability, and existing building improvements are in place.
The property is located at 6898-6902 Rt 22 in Plattsburgh, near the Beekmantown School District’s main campus. Its setting is described as a high-traffic area, with the parcel positioned for access and exposure along the route. Commercial zoning, established site infrastructure, cable availability, and existing building improvements are in place.
Key Highlights
- 0.99‑acre commercial parcel with a 2,400‑square‑foot warehouse
- Commercial zoning with an existing warehouse improvement
- Two separate electrical services, a drilled well, and septic tank
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
$17,985
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
7.99%
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%
$359,700
$359.7K
Cap Rate 7%
$256,929
$256.9K
Cap Rate 9%
$199,833
$199.8K
Market Conditions
NOI Build-Up for 2,400 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
$22.8K $9.48/SF
− Vacancy
−$1.6K −$0.66/SF
EGI
$21.2K $8.82/SF
− OpEx
−$3.2K −$1.32/SF
NOI
$18.0K $7.49/SF
Area
Clinton County, NY
Vacancy
7.00%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$359,700
Cap Rate 7%
$256,929
Cap Rate 9%
$199,833
Alternative Uses
Best Use
Warehouse
$256.9K
$224.8K – $299.8K
NOI $17,985 @ 7.0% cap · market cap 7.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$661.6K
$578.9K – $771.8K
NOI $46,310 @ 7.0% cap · market cap 20.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
35
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12901, NY
32,147
Population
15,426
Households
2.1
Avg Household Size
38
Median Age
33%
College-Educated
89%
High-School Grad
70.6 sq mi
ZIP Area
455
Density / Sq Mi
$59,413
Median Household Income
$35,385
Median Earnings
$957
Median Rent
$182,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Warehouse - Commercially zoned property with a warehouse, well, septic system, and separate electrical services.
Where is this warehouse located?
The property is located at 6898-6902 Rt 22 Plattsburgh, NY.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 0.99‑acre commercial parcel with a 2,400‑square‑foot warehouse; Commercial zoning with an existing warehouse improvement; Two separate electrical services, a drilled well, and septic tank
