Renovated Flex Building in
For Sale
Contact for pricing
126 Industrial Park Dr, Frankfort, NY 13340
Newly renovated flex building with office and warehouse space.
Property Size61,500 SF
Price / SF$121.95
Days on Market645
Property Features for 126 Industrial Park Dr
General Information
Standard status
Active
Size
61,500 SF
Property subtype
Industrial
Zoning
M1
Listing Agency:
Pavia Real Estate
(315) 939-0133
Listed By:
Dominic Pavia · License #NY 49PA1151344
Source:
Crexi
Added: Nov 14, 2024
Changed: Aug 21
Last Checked: Aug 14 at 5:57AM
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 Pavia Real Estate
Investment Insights
Based on property information with market context.
This is a 65,100 square foot flex building located in Frankfort, New York. The building features Butler style construction and includes approximately 30,000 square feet of office space and 35,100 square feet of warehouse or manufacturing space, as well as a studio and gym. Loading and unloading are facilitated by 3 dock level doors and 3 ground level overhead doors. A pad is prepared for additional expansion.
Key Highlights
- Newly renovated 65,100 ± SF flex building.
- Includes 30,000 ± SF office space and 35,100 ± SF warehouse/manufacturing space.
- Butler style construction.
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
$464,350
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
6.19%
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%
$9,287,000
$9.3M
Cap Rate 7%
$6,633,571
$6.6M
Cap Rate 9%
$5,159,444
$5.2M
Market Conditions
NOI Build-Up for 61,500 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
$811.8K $13.20/SF
− Vacancy
−$97.4K −$1.58/SF
EGI
$714.4K $11.62/SF
− OpEx
−$250.0K −$4.07/SF
NOI
$464.3K $7.55/SF
Area
Oneida County, NY
Vacancy
12.00%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
35.00%
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%
$9,287,000
Cap Rate 7%
$6,633,571
Cap Rate 9%
$5,159,444
Alternative Uses
Best Use
Flex RnD
$6.63M
$5.80M – $7.74M
NOI $464,350 @ 7.0% cap · market cap 6.19%
Second Best
Industrial
$5.43M
$4.75M – $6.34M
NOI $380,362 @ 7.0% cap · market cap 5.07%
Theoretical Best
Office A
$16.21M
$14.18M – $18.91M
NOI $1,134,454 @ 7.0% cap · market cap 15.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
25
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13340, NY
7,652
Population
3,427
Households
2.2
Avg Household Size
45
Median Age
22%
College-Educated
94%
High-School Grad
60.3 sq mi
ZIP Area
127
Density / Sq Mi
$69,928
Median Household Income
$44,464
Median Earnings
$872
Median Rent
$143,900
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 - Newly renovated flex building with office and warehouse space.
Where is this flex space located?
The property is located at 126 Industrial Park Dr Frankfort, NY.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: Newly renovated 65,100 ± SF flex building.; Includes 30,000 ± SF office space and 35,100 ± SF warehouse/manufacturing space.; Butler style construction.
