Bank Building with
New
For Sale
$750,000
7812 Turin Road, Rome, NY 13440
Former financial-services facility with offices, conference rooms, a vault, teller area, and separate drive-through ATM.
Property Size5,974 SF
Lot Size0.95 Acres
Price / SF$125.54
Days on Market3
Property Features for 7812 Turin Road
General Information
Standard status
Active
Size
5,974 SF
Lot size
0.95 Acres
Property subtype
CommercialLease
Site & Location
Drive-Thru
Yes
Utilities to Site
Yes
Amenities
large lobby area
conference rooms
numerous personal office spaces
teller station
vault
drive-thru ATM
basement break room
additional restrooms
Building Details
Year Built
2011
Buildings
1
Tenancy
Single
Listing Agency:
Howard Hanna Real Estate
Listed By:
Sunshine Sara Equinozzi
(315) 685-0111
Source:
Nicholcityrealty
Added: Sep 12
Last Checked: Sep 13 at 11:43AM
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 Howard Hanna Real Estate
Investment Insights
Based on property information with market context.
Constructed in 2011, this 4,524-square-foot commercial building was previously used for banking and includes a broad lobby, conference rooms, multiple private offices, teller space, a vault, drive-through window, and separate drive-through ATM. The lower level adds a large break room and additional restrooms, while the property is fully serviced.
The site encompasses .95 acres and offers frontage on two roads: 180 feet along Turin Rd (Rt2 26) and 237 feet along Hickory St. Located at 7812 Turin Road in Rome, NY, the property includes the building and the one-acre parcel shown in the photos.
The site encompasses .95 acres and offers frontage on two roads: 180 feet along Turin Rd (Rt2 26) and 237 feet along Hickory St. Located at 7812 Turin Road in Rome, NY, the property includes the building and the one-acre parcel shown in the photos.
Key Highlights
- 4,524‑square‑foot commercial building constructed in 2011
- Bank‑oriented layout with lobby, conference rooms, private offices, teller area, and vault
- Drive‑through window plus separate drive‑through ATM
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
$68,810
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
9.17%
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%
$1,376,200
$1.4M
Cap Rate 7%
$983,000
$983.0K
Cap Rate 9%
$764,556
$764.6K
Market Conditions
NOI Build-Up for 5,974 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
$96.8K $16.20/SF
− Vacancy
−$5.0K −$0.84/SF
EGI
$91.7K $15.36/SF
− OpEx
−$22.9K −$3.84/SF
NOI
$68.8K $11.52/SF
Area
Oneida County, NY
Vacancy
5.20%
Lease Rate
$16.20 /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%
$1,376,200
Cap Rate 7%
$983,000
Cap Rate 9%
$764,556
Alternative Uses
Best Use
Specialty Retail
$983.0K
$860.1K – $1.15M
NOI $68,810 @ 7.0% cap · market cap 9.17%
Second Best
Retail
$858.5K
$751.2K – $1.00M
NOI $60,092 @ 7.0% cap · market cap 8.01%
Theoretical Best
Office A
$1.57M
$1.38M – $1.84M
NOI $110,199 @ 7.0% cap · market cap 14.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
126
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Bank - Former financial-services facility with offices, conference rooms, a vault, teller area, and separate drive-through ATM.
Where is this bank located?
The property is located at 7812 Turin Road Rome, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 4,524‑square‑foot commercial building constructed in 2011; Bank‑oriented layout with lobby, conference rooms, private offices, teller area, and vault; Drive‑through window plus separate drive‑through ATM
