Commercial Space Near Griffiss
For Sale
$399,000
7133 E Dominick St, Rome, NY 13440
Highly visible commercial space on a 1-acre corner lot.
Property Size1,453 SF
Lot Size1.00 Acre
Days on Market254
Property Features for 7133 E Dominick St
General Information
Standard status
Active
Size
1,453 SF
Lot size
1.00 Acre
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,997
Building Details
Building Size
1,453 SF
Year Built
1955
Stories
1
Listing Agency:
Shamrock Real Estate, Inc.
(315) 335-3591
Listed By:
Anyssa Harris · License #10311209871
(315) 335-3591
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:31AM
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 Shamrock Real Estate, Inc.
Investment Insights
Based on property information with market context.
This commercial space is situated in a highly visible location on a 1-acre corner lot that offers ample parking. The property is located close to Griffiss Technology Park. Inside, the building includes a reception area, two large shared offices, a kitchenette, a storage room, and a bathroom.
Key Highlights
- Highly visible location on a 1‑acre corner lot.
- Close proximity to Griffiss Technology Park.
- Plenty of parking available.
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
$18,308
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
4.59%
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%
$366,160
$366.2K
Cap Rate 7%
$261,543
$261.5K
Cap Rate 9%
$203,422
$203.4K
Market Conditions
NOI Build-Up for 1,453 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
$30.5K $21.00/SF
− Vacancy
−$6.1K −$4.20/SF
EGI
$24.4K $16.80/SF
− OpEx
−$6.1K −$4.20/SF
NOI
$18.3K $12.60/SF
Area
Oneida County, NY
Vacancy
20.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$366,160
Cap Rate 7%
$261,543
Cap Rate 9%
$203,422
Alternative Uses
Best Use
Office B
$261.5K
$228.9K – $305.1K
NOI $18,308 @ 7.0% cap · market cap 4.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$382.9K
$335.0K – $446.7K
NOI $26,803 @ 7.0% cap · market cap 6.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
84
Businesses Nearby
Explore this area
Business Placement
Demographics for 13440, NY
41,024
Population
19,286
Households
2.1
Avg Household Size
42
Median Age
23%
College-Educated
88%
High-School Grad
116.5 sq mi
ZIP Area
352
Density / Sq Mi
$65,497
Median Household Income
$43,747
Median Earnings
$863
Median Rent
$155,800
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?
Office units - Highly visible commercial space on a 1-acre corner lot.
Where is this office units located?
The property is located at 7133 E Dominick St Rome, NY.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Highly visible location on a 1‑acre corner lot.; Close proximity to Griffiss Technology Park.; Plenty of parking available.
