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    5140 Commercial Dr Utica, NY 13505

    For Sale
    $1,180,000

    Gerber Collision Net Lease, High NOI

    Property size:
    23,250 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a 23,250-square-foot retail storefront in Utica, NY, currently 100% occupied by two tenants under a net lease agreement. The primary tenant is Gerber Collision, backed by a corporate guarantee from the Boyd Group (TSX:BYD), a service-oriented and recession-resistant business. The lease commenced March 1, 2019, with a remaining term of approximately 4.7 years, extending to July 31, 2029, and includes three 5-year renewal options. The property boasts a strong 7.97% cap rate based on a net operating income (NOI) of $94,080. Situated on a 2.19-acre lot at 5140 Commercial Drive, Utica, NY 13505, this property benefits from high visibility and accessibility, with direct frontage and signage on a major retail thoroughfare experiencing approximately 18,000 vehicles daily. The location offers convenient access to NY State Route 5A and is surrounded by numerous auto retailers and service centers, creating a synergistic environment. The property was built in 1957 and features a strong tenant profile within a market demonstrating significant demand and limited supply of retail space. This offering presents a compelling investment opportunity, particularly given the limited number of comparable Gerber Collision properties currently available nationwide. The asking price is $1,180,000. Rent bumps are detailed in the offering memorandum. APN: 305-018-0003-031-000-0000.

    Property Features for 5140 Commercial Dr

    General Information

    Property type
    Individual retail properties
    Square Feet
    23,250 SF
    Lot Size
    95,396 SF

    Building Details

    Year Built
    1957

    HighLights

    • Portfolio sale opportunity with Gerber Collision at 973 Hertel Ave, Buffalo, NY.
    • Gerber Collision lease features a corporate guarantee from Boyd Group (TSX:BYD).
    • Gerber Collision is a service‑oriented, recession‑resistant tenant.
    • Over 108,000 residents with average household income exceeding $74,000 within a five‑mile radius.
    • Strong retail market with approximately 9.9 million square feet of retail space and a 1% vacancy rate within a three‑mile radius.
    • Excellent location surrounded by numerous auto retailers and service providers.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Map

    City
    Utica
    County
    Oneida
    State
    New York
    Longitude
    -75.29068598715
    Latitude
    43.113713231088

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    FAQs

    What type of property is this?
    Individual retail property - Gerber Collision Net Lease, High NOI
    Where is this individual retail property located?
    The property is located at 5140 Commercial Dr Utica, NY.
    What is the asking price?
    The asking price for this property is $1,180,000.
    What are key features of this property?
    This property features: Portfolio sale opportunity with Gerber Collision at 973 Hertel Ave, Buffalo, NY.; Gerber Collision lease features a corporate guarantee from Boyd Group (TSX:BYD).; Gerber Collision is a service-oriented, recession-resistant tenant.
    Request Owner's contact information
    5140 Commercial Dr Utica, NY 13505
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    5140 Commercial Dr Utica, NY 13505
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