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    Flex Space with Warehouse and Rental Title is generated by Realmo AI

    9826 State Highway 37, Ogdensburg, NY 13669

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    For Sale
    $599,000

    COMMERCIAL - Ogdensburg, NY

    Property size:
    4,800 SF
    Lot size:
    3.20 Acres
    Price / SF:
    $124/SF
    Added:
    Jun 4, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 6 at 5:06 am

    Property Features for 9826 State Highway 37

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 2
    Parking features
    Garage, Driveway
    Interior features
    9 ft.+ ceilings, Open floor plan
    Exterior features
    Outdoor lights, Storage/out-building(s)
    Standard status
    Active
    APN
    038-049-2-6
    Size
    4,800 SF
    Lot size
    3.20 Acres

    Taxes and HOA fees

    Tax Annual Amount
    7194

    Utilities

    Utilities
    Cable Available
    Water source
    Private, Well

    Building Details

    Year built
    2006
    Floors in Building
    2
    Building materials
    Brick accent, Metal siding, Wood siding
    Roof type
    Metal
    Architectural style
    Other
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Shannon Davis

    Listing agent Shannon Davis License #10401264120

    Listing office Davis Lake and River Realty, LLC 5376 County Route 6, Ogdensberg, NY

    Listing date Jun 4, 2026

    MLS# 52855

    Copyright © 2026 St. Lawrence Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 4,800 sq ft commercial building, formerly operated as River Myst Winery
    • 2,100 sq ft partially heated warehouse for storage, inventory, distribution, or workshop use
    • Additional garage measuring 21 x 32 and another storage building for added functionality
    • 3‑bedroom, 1‑bath ranch home currently used as a rental
    • Year built 2006; metal roof with brick accent and metal/wood siding
    • Interiors include 9 ft.+ ceilings and an open floor plan; cable available and private well water source

    Overview

    The property includes an impressive 4,800 sq ft commercial building that was formerly operated as River Myst Winery and can support a range of business concepts. A partially heated 2,100 sq ft warehouse complements the main structure and is suited for storage, inventory, distribution, or workshop use. Additional operational support is provided by a separate garage measuring 21x32, along with another storage building to add flexibility for day-to-day activities.

    Located at 9826 State Highway 37 in Ogdensburg, the site is positioned on a high-traffic highway for strong visibility and straightforward accessibility. The overall property sits on 3.2 acres, offering room for multiple uses under one ownership.

    Beyond the primary commercial and warehouse space, the property also includes a 3-bedroom, 1-bath ranch-style home currently used as a rental, creating an additional income stream while keeping residential use on-site. For buyers or operators seeking a mixed-use setup—combining flexible commercial space, warehouse storage, and a rental residence—this configuration offers a practical, multi-functional footprint in a highway-oriented setting.

    Local Financial Insights For Flex RnD

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $86.4k $18.00
    − Vacancy −$6.0k −$1.26
    EGI $80.4k $16.74
    − OpEx −$28.1k −$5.86
    NOI $52.2k $10.88
    4,800 SF · lease $18.00/SF/yr · vacancy 7.00% · expense 35.00%

    Alternative Uses

    Best Use
    Flex RnD
    $746.1K
    $652.9K – $870.5K (±1% cap)
    NOI $52,229 @ 7.0% cap · market cap 8.72%
    Second Best
    Warehouse
    $513.9K
    $449.6K – $599.5K (±1% cap)
    NOI $35,971 @ 7.0% cap · market cap 6.01%
    Theoretical Best
    Office A
    $1.19M
    $1.04M – $1.39M (±1% cap)
    NOI $83,359 @ 7.0% cap · market cap 13.92%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Flex space

    Suggested Use

    Auto Repair Shop Hotel & Motel Auto Parts Store Food Market Storage Facility Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ogdensburg
    County
    St. Lawrence
    State
    New York
    Longitude
    -75.378793
    Latitude
    44.7622

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    FAQs

    What type of property is this?
    Flex space - Commercial building with an adjoining partially heated warehouse and an on-site rental home.
    Where is this flex space located?
    The property is located at 9826 State Highway 37 Ogdensburg, NY.
    What is the asking price?
    The asking price for this property is $599,000.
    What are key features of this property?
    This property features: 4,800 sq ft commercial building, formerly operated as River Myst Winery; 2,100 sq ft partially heated warehouse for storage, inventory, distribution, or workshop use; Additional garage measuring 21 x 32 and another storage building for added functionality
    (315) 323-2745
    We can help!
    Listing Contact
    Shannon Davis
    Real Estate License ID: 10401264120
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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