C2 Zoned Commercial
For Sale
Contact for pricing
34 Roosevelt Drive, Whitesboro, NY 13492
Commercial property with high visibility in a bustling business district.
Property Size1,866 SF
Price / SF$120.58
Days on Market962
Property Features for 34 Roosevelt Drive
General Information
Standard status
Active
Size
1,866 SF
Property subtype
Retail, Land
Listing Agency:
Coldwell Banker Prime Properties
Listed By:
Nicole Bartolomie-Nucci · License #NY
Source:
Crexi
Added: Jan 21, 2024
Changed: Aug 31
Last Checked: Sep 8 at 6:54AM
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 Coldwell Banker Prime Properties
Investment Insights
Based on property information with market context.
This property, zoned C2 Commercial, presents an opportunity for business owners and entrepreneurs. It benefits from a high traffic count and excellent visibility within a busy business district. The property encompasses 1866 square feet. The main floor features a kitchen, a bathroom, and three to four multi-use rooms, suitable for various business needs. Additionally, there are three rooms upstairs, which could serve as office space or storage. On-site parking is available, complemented by on-street parking. A new furnace and hot water tank have been installed. The property is also approved for converted residential use.
Key Highlights
- C2 Commercial zoning in a high‑traffic, highly visible location.
- Approved for converted residential use.
- 1866 square feet of space with a versatile layout including a kitchen, bathroom, and multiple multi‑use rooms.**
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
$18,770
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
8.34%
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%
$375,400
$375.4K
Cap Rate 7%
$268,143
$268.1K
Cap Rate 9%
$208,556
$208.6K
Market Conditions
NOI Build-Up for 1,866 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
$28.0K $15.00/SF
− Vacancy
−$1.2K −$0.63/SF
EGI
$26.8K $14.37/SF
− OpEx
−$8.0K −$4.31/SF
NOI
$18.8K $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%
$375,400
Cap Rate 7%
$268,143
Cap Rate 9%
$208,556
Alternative Uses
Best Use
Retail
$268.1K
$234.6K – $312.8K
NOI $18,770 @ 7.0% cap · market cap 8.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$491.7K
$430.3K – $573.7K
NOI $34,421 @ 7.0% cap · market cap 15.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
409
Businesses Nearby
77k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 69%
Dining 28%
Apparel 3%
Byrne Dairy
Shops & Services
18,434 visits/mo
0.1 miles
Dunkin' Donuts
Dining
13,654 visits/mo
0.3 miles
Dollar General
Shops & Services
11,994 visits/mo
0.2 miles
Dollar Tree
Shops & Services
8,142 visits/mo
0.4 miles
SUBWAY
Dining
4,039 visits/mo
0.2 miles
Demographics for 13492, NY
11,457
Population
4,983
Households
2.3
Avg Household Size
44
Median Age
37%
College-Educated
95%
High-School Grad
15.3 sq mi
ZIP Area
749
Density / Sq Mi
$84,543
Median Household Income
$48,005
Median Earnings
$920
Median Rent
$192,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Commercial property with high visibility in a bustling business district.
Where is this retail space located?
The property is located at 34 Roosevelt Drive Whitesboro, NY.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: C2 Commercial zoning in a high‑traffic, highly visible location.; Approved for converted residential use.; 1866 square feet of space with a versatile layout including a kitchen, bathroom, and multiple multi‑use rooms.**
