Industrial Building with 30-Ton
For Sale
Contact for pricing
9 Tower Rd, Schenectady, NY 12302
14,600 SF industrial building featuring a 30-ton crane.
Property Size14,600 SF
Price / SF$154.11
Days on Market801
Property Features for 9 Tower Rd
General Information
Standard status
Active
Size
14,600 SF
Class
A
Property subtype
Industrial, Land
Zoning
CON
Building Details
Year Built
2018
Listing Agency:
Coldwell Banker Commercial Prime Properties
(518) 427-9000
Listed By:
William Fitzgerald · License #NY
Source:
Crexi
Added: Jun 11, 2024
Changed: Aug 14
Last Checked: Aug 14 at 5:59AM
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 Commercial Prime Properties
Investment Insights
Based on property information with market context.
This is an opportunity to own a 14,600 square foot industrial building. Constructed in 2018, the property features a 30-ton crane and a ceiling height of 40 feet. The building includes 12,600 square feet of warehouse space and 2,000 square feet of office space. It also offers a loading dock and a drive-in door for accessibility. There is room for a 5,000 square foot expansion. Current property and school tax are partially exempt.
Key Highlights
- Super clean, modern building constructed in 2018.
- Large 14,600 SF industrial building with 12,600 SF warehouse and 2,000 SF office space.
- 30‑ton crane and 40ft ceiling height ideal for heavy industrial use.**
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
$90,297
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
4.01%
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%
$1,805,940
$1.8M
Cap Rate 7%
$1,289,957
$1.3M
Cap Rate 9%
$1,003,300
$1.0M
Market Conditions
NOI Build-Up for 14,600 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
$138.4K $9.48/SF
− Vacancy
−$9.4K −$0.64/SF
EGI
$129.0K $8.84/SF
− OpEx
−$38.7K −$2.65/SF
NOI
$90.3K $6.18/SF
Area
Schenectady 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%
$1,805,940
Cap Rate 7%
$1,289,957
Cap Rate 9%
$1,003,300
Alternative Uses
Best Use
Industrial
$1.29M
$1.13M – $1.50M
NOI $90,297 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.37M
$3.82M – $5.10M
NOI $305,899 @ 7.0% cap · market cap 13.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
363
Businesses Nearby
Explore this area
Business Placement
Demographics for 12302, NY
27,618
Population
12,406
Households
2.2
Avg Household Size
45
Median Age
42%
College-Educated
95%
High-School Grad
43.3 sq mi
ZIP Area
638
Density / Sq Mi
$94,156
Median Household Income
$55,305
Median Earnings
$1,207
Median Rent
$240,700
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?
Manufacturing property - 14,600 SF industrial building featuring a 30-ton crane.
Where is this manufacturing property located?
The property is located at 9 Tower Rd Schenectady, NY.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Super clean, modern building constructed in 2018.; Large 14,600 SF industrial building with **12,600 SF warehouse and 2,000 SF office space.**; 30‑ton crane and 40ft ceiling height ideal for heavy industrial use.**
