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5642 Horatio St 15,000 SF Industrial Building Utica, NY 13502 $1,500,000 ($100/SF) 10.40% Cap Rate
INVESTMENT HIGHLIGHTS
- New roof in 2025
EXECUTIVE SUMMARY
Incredibly well-kept, clean warehouse w/ recent renovations including new roof - right off I-90 and just a few minutes from Downtown Utica. Approx. ~7,000 sq ft currently used by owner, so perfect setup for owner-user to take some of the space while still collecting income from the other in-place tenants. Although the property is very well-maintained, there is still tremendous value add potential: we have plans available to build an additional 14,000 square foot property that can an add ~$150,000 to gross rents. Additionally, given the large lot size, the remaining land can be rented for vehicle parking, battery storage, and other uses. Please inquire regarding further property specifics such as broken down income, expenses, etc. ~15,000 SF warehouse & garage space situated on ~2.5 +/- acres.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$174,000
|
$11.94
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$174,000
|
$11.94
|
| Taxes |
$11,000
|
$0.75
|
| Operating Expenses |
$7,000
|
$0.48
|
| Total Expenses |
$18,000
|
$1.23
|
| Net Operating Income |
$156,000
|
$10.70
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $174,000 |
| Annual Per SF | $11.94 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $174,000 |
| Annual Per SF | $11.94 |
| Taxes | |
|---|---|
| Annual | $11,000 |
| Annual Per SF | $0.75 |
| Operating Expenses | |
|---|---|
| Annual | $7,000 |
| Annual Per SF | $0.48 |
| Total Expenses | |
|---|---|
| Annual | $18,000 |
| Annual Per SF | $1.23 |
| Net Operating Income | |
|---|---|
| Annual | $156,000 |
| Annual Per SF | $10.70 |
PROPERTY FACTS
| Price | $1,500,000 | Lot Size | 2.50 AC |
| Price Per SF | $100 | Rentable Building Area | 15,000 SF |
| Sale Type | Investment or Owner User | No. Stories | 1 |
| Cap Rate | 10.40% | Year Built/Renovated | 1965/2025 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Warehouse | Parking Ratio | 2.8/1,000 SF |
| Building Class | B | No. Drive In / Grade-Level Doors | 6 |
| Zoning | 01 | ||
| Price | $1,500,000 |
| Price Per SF | $100 |
| Sale Type | Investment or Owner User |
| Cap Rate | 10.40% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | B |
| Lot Size | 2.50 AC |
| Rentable Building Area | 15,000 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1965/2025 |
| Tenancy | Single |
| Parking Ratio | 2.8/1,000 SF |
| No. Drive In / Grade-Level Doors | 6 |
| Zoning | 01 |
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PROPERTY TAXES
| Parcel Number | 294-017-0001-006-000-0000 | Total Assessment | $45,000 (2024) |
| Land Assessment | $10,000 (2024) | Annual Taxes | $11,000 ($0.73/SF) |
| Improvements Assessment | $35,000 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
294-017-0001-006-000-0000
Land Assessment
$10,000 (2024)
Improvements Assessment
$35,000 (2024)
Total Assessment
$45,000 (2024)
Annual Taxes
$11,000 ($0.73/SF)
Tax Year
2025
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Pond Point Group
5642 Horatio St
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