C-2 Storefront
For Sale
$395,000
908- 912 914 Erie W Boulevard, Rome, NY 13440
CommercialSale, Rome, NY
Property Size2,982 SF
Lot Size0.70 Acres
Price / SF$132.46
Days on Market1516
Property Features for 908- 912 914 Erie W Boulevard
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-2
Zoning description
Commercial
Parking
50
Elementary school district
Rome
Middle school district
Rome
High school district
Rome
Subdivision
Rome-Inside-301301
Standard status
Active
APN
301301-242-005-0001-060-000-0000
Size
2,982 SF
Lot size
0.70 Acres
Taxes and HOA fees
Tax Annual Amount
5355
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1971
Floors in Building
1
Flooring type
Concrete
Roof type
Asphalt
Listing Agency:
1st Rome Realty LLC
(315) 337-4390
Listed By:
Fred F. Macchia · License #10491207620
(315) 292-0373
Added: Aug 12, 2022
Changed: Sep 7
Last Checked: Oct 5 at 1:06AM
MLS# S1427127
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,982-square-foot storefront property sits on 0.7 acres and was built in 1971. The building features concrete flooring, an asphalt roof, and public water and sewer service. C-2 zoning supports its commercial classification.
The property is located on Erie W Boulevard in Rome, New York. On-site parking and the storefront format provide practical features for a range of commercial users.
The property is located on Erie W Boulevard in Rome, New York. On-site parking and the storefront format provide practical features for a range of commercial users.
Key Highlights
- 2,982‑square‑foot storefront property
- 0.7‑acre site in Rome, NY
- C‑2 zoning
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
$29,996
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
7.59%
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%
$599,920
$599.9K
Cap Rate 7%
$428,514
$428.5K
Cap Rate 9%
$333,289
$333.3K
Market Conditions
NOI Build-Up for 2,982 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
$44.7K $15.00/SF
− Vacancy
−$1.9K −$0.63/SF
EGI
$42.9K $14.37/SF
− OpEx
−$12.9K −$4.31/SF
NOI
$30.0K $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%
$599,920
Cap Rate 7%
$428,514
Cap Rate 9%
$333,289
Alternative Uses
Best Use
Retail
$428.5K
$375.0K – $499.9K
NOI $29,996 @ 7.0% cap · market cap 7.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$785.8K
$687.6K – $916.8K
NOI $55,007 @ 7.0% cap · market cap 13.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
250
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Commercial storefront with public utilities, concrete flooring, and on-site parking.
Where is this storefront property located?
The property is located at 908- 912 914 Erie W Boulevard Rome, NY.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 2,982‑square‑foot storefront property; 0.7‑acre site in Rome, NY; C‑2 zoning
