Flex Property with Covered
For Sale
$1,590,000
750 ERIE BLVD, Rome, NY 13440
Showroom, office, warehouse, and inventory areas support varied commercial operations.
Property Size7,440 SF
Lot Size1.90 Acres
Price / SF$213.71
Days on Market92
Property Features for 750 ERIE BLVD
General Information
Standard status
Active
Size
7,440 SF
Lot size
1.90 Acres
Property subtype
General Commercial
Site & Location
Road Access
Yes
Outdoor Storage
Yes
Additional Details
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$18,641
Amenities
Gas
3
Vinyl, Concrete, Carpet, Linoleum
Flat
15 Parking Spaces.
153X159
Other Road Type.
Building Details
Year Built
1928
Stories
1
Listing Agency:
Miner Realty & Prop Management
(315) 709-4355
Listed By:
Michael Miner · License #10491208203
(315) 709-4355
Source:
Xome
Added: May 31
Changed: Aug 29
Last Checked: Aug 29 at 1:56PM
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 Miner Realty & Prop Management
Investment Insights
Based on property information with market context.
This flex property includes approximately 7,440 square feet of enclosed space arranged with showroom, office, warehouse, and inventory storage areas. Covered storage, exterior yard space, loading areas, and parking expand the functional footprint. The building dates to 1928 and occupies approximately 1.9 acres with a 153X159 configuration.
Located at 750 Erie Blvd in Rome, the property is positioned along Erie Boulevard West among established businesses. The site offers convenient access to major transportation routes and includes 15 parking spaces, supporting a range of commercial, industrial, distribution, retail, contractor, and owner-user applications.
Located at 750 Erie Blvd in Rome, the property is positioned along Erie Boulevard West among established businesses. The site offers convenient access to major transportation routes and includes 15 parking spaces, supporting a range of commercial, industrial, distribution, retail, contractor, and owner-user applications.
Key Highlights
- Approximately 7,440 square feet of enclosed space
- Approximately 1.9 acres with a 153X159 site configuration
- Showroom, office, warehouse, and inventory storage areas
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
$74,839
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
4.71%
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%
$1,496,780
$1.5M
Cap Rate 7%
$1,069,129
$1.1M
Cap Rate 9%
$831,544
$831.5K
Market Conditions
NOI Build-Up for 7,440 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
$111.6K $15.00/SF
− Vacancy
−$4.7K −$0.63/SF
EGI
$106.9K $14.37/SF
− OpEx
−$32.1K −$4.31/SF
NOI
$74.8K $10.06/SF
Area
Oneida County, NY
Vacancy
4.20%
Lease Rate
$15.00 /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%
$1,496,780
Cap Rate 7%
$1,069,129
Cap Rate 9%
$831,544
Alternative Uses
Best Use
Retail
$1.07M
$935.5K – $1.25M
NOI $74,839 @ 7.0% cap · market cap 4.71%
Second Best
Flex RnD
$802.5K
$702.2K – $936.3K
NOI $56,175 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$1.96M
$1.72M – $2.29M
NOI $137,241 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
321
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 Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Showroom, office, warehouse, and inventory areas support varied commercial operations.
Where is this flex space located?
The property is located at 750 ERIE BLVD Rome, NY.
What is the asking price?
The asking price for this property is $1,590,000.
What are key features of this property?
This property features: Approximately 7,440 square feet of enclosed space; Approximately 1.9 acres with a 153X159 site configuration; Showroom, office, warehouse, and inventory storage areas
