Flex Space with Loading
For Sale
$1,725,000
7 Salerno Drive 7, Ghent, NY 12075
Flexible commercial property combines warehouse capacity, dedicated offices, and climate-controlled interior space.
Property Size10,880 SF
Lot Size1.20 Acres
Price / SF$158.55
Days on Market154
Property Features for 7 Salerno Drive 7
General Information
Standard status
Active
Size
10,880 SF
Lot size
1.20 Acres
Property subtype
Business
Zoning
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Warehouse & Industrial
Dock-High Doors
1
Conditioned Warehouse
Yes
Taxes and HOA fees
Annual Taxes
$14,751
Amenities
employee break room
conference space
Building Details
Building Size
10,880 SF
Year Built
2018
Buildings
1
Construction
steel frame
Listing Agency:
Stone House Properties, LLC
(518) 392-0332
Listed By:
Tyler Bervy · License #10401323930
Source:
Stonehouseproperties
Added: Mar 30
Changed: Aug 29
Last Checked: Aug 3 at 11:05AM
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 Stone House Properties, LLC
Investment Insights
Based on property information with market context.
This 2018 flex property occupies 1.2 acres within the Ghent industrial park and includes a 10,880-square-foot commercial building. The warehouse features an unobstructed interior, radiant heat, central A/C, loading access, storage shelving, a ventilated paint spray booth, and a sawdust collection system. Municipal water and sewer serve the property, with ample parking available on site.
The office component is separated from the warehouse and includes three individual offices, a bathroom, employee break room, and conference space. The commercial-zoned property is accessible from Route 66 and Route 9H and is located minutes from Hudson and Chatham, New York.
The office component is separated from the warehouse and includes three individual offices, a bathroom, employee break room, and conference space. The commercial-zoned property is accessible from Route 66 and Route 9H and is located minutes from Hudson and Chatham, New York.
Key Highlights
- 10,880‑square‑foot commercial building on 1.2 acres
- Built in 2018 within the Ghent industrial park
- Warehouse includes loading dock, radiant heat, and central A/C
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
$149,854
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
8.69%
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%
$2,997,080
$3.0M
Cap Rate 7%
$2,140,771
$2.1M
Cap Rate 9%
$1,665,044
$1.7M
Market Conditions
NOI Build-Up for 10,880 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
$238.9K $21.96/SF
− Vacancy
−$24.8K −$2.28/SF
EGI
$214.1K $19.68/SF
− OpEx
−$64.2K −$5.90/SF
NOI
$149.9K $13.77/SF
Area
Columbia County, NY
Vacancy
10.40%
Lease Rate
$21.96 /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%
$2,997,080
Cap Rate 7%
$2,140,771
Cap Rate 9%
$1,665,044
Alternative Uses
Best Use
Warehouse
$2.60M
$2.27M – $3.03M
NOI $181,965 @ 7.0% cap · market cap 10.55%
Second Best
Industrial
$2.14M
$1.87M – $2.50M
NOI $149,854 @ 7.0% cap · market cap 8.69%
Theoretical Best
Office A
$2.69M
$2.36M – $3.14M
NOI $188,424 @ 7.0% cap · market cap 10.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Dock-high doors
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12075, NY
3,135
Population
1,348
Households
2.3
Avg Household Size
50
Median Age
37%
College-Educated
88%
High-School Grad
36.3 sq mi
ZIP Area
86
Density / Sq Mi
$83,443
Median Household Income
$48,368
Median Earnings
$1,375
Median Rent
$384,700
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flexible commercial property combines warehouse capacity, dedicated offices, and climate-controlled interior space.
Where is this flex space located?
The property is located at 7 Salerno Drive 7 Ghent, NY.
What is the asking price?
The asking price for this property is $1,725,000.
What are key features of this property?
This property features: 10,880‑square‑foot commercial building on 1.2 acres; Built in 2018 within the Ghent industrial park; Warehouse includes loading dock, radiant heat, and central A/C
