Renovated Commercial Property For
For Sale
$419,000
720 DOMINICK ST, Rome, NY 13440
Turnkey commercial space suitable for automotive or other ventures.
Property Size4,521 SF
Price / SF$92.68
Days on Market230
Property Features for 720 DOMINICK ST
General Information
Standard status
Active
Size
4,521 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$6,218
Amenities
Central Air, Electric, Heat Pump, A/C - Zone
3
Shingle, Composition Shingle
AUTO
8 Parking Spaces.
Rectangular
45X150
Rectangular.
Listing Agency:
Hunt Real Estate ERA
(315) 796-4741
Listed By:
Ciro Raspante
(315) 796-4741
Source:
Xome
Added: Jan 6
Changed: Aug 23
Last Checked: Aug 23 at 10:15AM
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 4,500+ sq ft commercial property is positioned on a corner lot with visibility. The space, recently renovated, is currently home to Wise Guys Auto Salon. The building is zoned and approved for automotive use, making it suitable for auto-related operations or other commercial ventures. The interior features LED lighting. Major capital improvements have been completed, including a new architectural shingle roof, floor drainage with oil catcher, spray foam insulation, new electrical & plumbing, two electric heat pump HVAC systems, and an on-demand hot water system. A newly built-out office space adds functionality. Approximately 500 sq ft of additional space upstairs is suitable for storage, expanded office use, or conversion into an apartment or income-producing unit. The property has on-site parking and exposure. The bike score is 54, indicating it is bikeable, and the walk score is 23, indicating it is car-dependent.
Key Highlights
- Zoned and approved for automotive use, ideal for auto‑related businesses.
- Recently renovated from top to bottom including a new roof, floor drainage with oil catcher, spray foam insulation, new electrical & plumbing, HVAC systems, and on‑demand hot water.
- 4,500+ sq ft commercial property** on a prominent corner lot with excellent visibility and on‑site parking.
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
$27,961
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
6.67%
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%
$559,220
$559.2K
Cap Rate 7%
$399,443
$399.4K
Cap Rate 9%
$310,678
$310.7K
Market Conditions
NOI Build-Up for 4,521 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
$42.9K $9.48/SF
− Vacancy
−$2.9K −$0.64/SF
EGI
$39.9K $8.84/SF
− OpEx
−$12.0K −$2.65/SF
NOI
$28.0K $6.18/SF
Area
Oneida County, NY
Vacancy
6.80%
Lease Rate
$9.48 /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%
$559,220
Cap Rate 7%
$399,443
Cap Rate 9%
$310,678
Alternative Uses
Best Use
Retail
$649.7K
$568.5K – $758.0K
NOI $45,477 @ 7.0% cap · market cap 10.85%
Second Best
Industrial
$399.4K
$349.5K – $466.0K
NOI $27,961 @ 7.0% cap · market cap 6.67%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,396 @ 7.0% cap · market cap 19.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
434
Businesses Nearby
Under-served
Demand for This Use
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 Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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Frequently Asked Questions
What type of property is this?
Automotive property - Turnkey commercial space suitable for automotive or other ventures.
Where is this automotive property located?
The property is located at 720 DOMINICK ST Rome, NY.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: Zoned and approved for automotive use, ideal for auto‑related businesses.; Recently renovated from top to bottom including a new roof, floor drainage with oil catcher, spray foam insulation, new electrical & plumbing, HVAC systems, and on‑demand hot water.; 4,500+ sq ft commercial property** on a prominent corner lot with excellent visibility and on‑site parking.
