Property profile

248 Otis St Rome, NY 13441

FOR SALE
Distribution properties
Property ID
US63-5211498
46,588 SF 11.12 ac lot Built 1970
Entity Owned 6-yr Hold Absentee Owner ~ Est. High Equity
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248 Otis St, Rome, NY 13441 For Sale
$12,000,000 46,588 SF
248 Otis St, Rome, NY 13441
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Property summary

AI-generated overview

This exceptional Class A industrial property, located at 248 Otis St in Rome, NY's Griffiss Business and Technology Park, offers 58,535 square feet of versatile space across three buildings situated on a 10.84-acre lot. The main building, encompassing over 48,975 square feet, features stacked offices, conference rooms, a training room, a dispatch center, and a full garage equipped with nine grade-level doors, bus lifts, a paint booth, and a parts department. A separate 4,600-square-foot body shop includes eight drive-through doors and offices. Additional storage is provided in a 4,960-square-foot building with one grade-level door. The property boasts ample parking, accommodating approximately 300 buses and 200 cars. The zoning is GB, and the property is available for immediate lease or sale under a NNN lease structure. The high ceilings (20+ feet) and 18 dock-high doors provide exceptional functionality for distribution, warehouse, or manufacturing operations. This prime location within the Griffiss Business and Technology Park offers excellent access to transportation and infrastructure.

Property profile

Verified
Property type Distribution properties
Use group BUS TERMINAL
Year built 1970
Total area 46,588 SF
Lot 11.12 ac (484,387 SF)
Zoning code GB
APN 301301 243.000-0001-001.053
UPID US63-5211498

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

248 Otis St Rome, NY 13441
Rome metro Census 980100 UTICA-ROME, NY METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$640k

Owner & transaction history

since 2019
3 recorded transactions
2025
Price N/A
2019
$6.8M
2018
Price N/A

Zoning & alternative use

GB · Rome, NY
Zoning description

GB-SG sub-district is the gateway site of the Griffiss Business and Technology Park. The design intent for this sub-district is to create a high profile, high quality, business complex that capitalizes on the site's exce…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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