Single-Story Commercial
For Sale
$249,000
1 S Main Street, Norfolk, NY 13667
COMMERCIAL, Commercial, Norfolk, NY
Property Size1,400 SF
Price / SF$177.86
Days on Market230
Property Features for 1 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Com 1
Exterior features
Outdoor lights
Lot features
Level lot
Elementary school district
Norwood-Norfolk Central School District
Middle school district
Norwood-Norfolk Central School District
High school district
Norwood-Norfolk Central School District
Directions
Bakery is located on SH 56 in Norfolk coming from Massena on the left hand side. No sign.
Subdivision
ST LAWRENCE
Standard status
Active
APN
32.067-3-4
Size
1,400 SF
Taxes and HOA fees
Tax Annual Amount
850
Utilities
Water source
Public
Building Details
Year built
1950
Floors in Building
1
Building materials
Concrete block
Architectural style
Other
Listing Agency:
Kassian Real Estate, LLC
(315) 769-0025
Listed By:
Lucille Kassian · License #40KA0346866
(315) 250-2383
Added: Jan 12
Changed: Aug 24
Last Checked: Aug 30 at 4:06AM
MLS# 52292
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.
Investment Insights
Based on property information with market context.
This 1,400-square-foot commercial kitchen occupies a single-story concrete-block building constructed in 1950. The property is configured for bakery operations and includes most of the existing equipment, supporting a transition to new ownership. Gas heat, an electric water heater, outdoor lighting, and public water service are in place.
The property sits on a large lot along a state highway between Potsdam and Massena in Norfolk. On-site parking accommodates customers, deliveries, and staff. Com 1 zoning is identified for the property, which is located at 1 S Main Street.
The property sits on a large lot along a state highway between Potsdam and Massena in Norfolk. On-site parking accommodates customers, deliveries, and staff. Com 1 zoning is identified for the property, which is located at 1 S Main Street.
Key Highlights
- 1,400‑square‑foot single‑story commercial kitchen
- Bakery equipment included with the property
- Large lot with on‑site parking for customers, deliveries, and staff
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
$21,727
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
8.73%
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%
$434,540
$434.5K
Cap Rate 7%
$310,386
$310.4K
Cap Rate 9%
$241,411
$241.4K
Market Conditions
NOI Build-Up for 1,400 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
$30.2K $21.60/SF
− Vacancy
−$1.3K −$0.91/SF
EGI
$29.0K $20.69/SF
− OpEx
−$7.2K −$5.17/SF
NOI
$21.7K $15.52/SF
Area
St. Lawrence County, NY
Vacancy
4.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$434,540
Cap Rate 7%
$310,386
Cap Rate 9%
$241,411
Alternative Uses
Best Use
Specialty Retail
$310.4K
$271.6K – $362.1K
NOI $21,727 @ 7.0% cap · market cap 8.73%
Second Best
Retail
$254.3K
$222.5K – $296.7K
NOI $17,800 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$347.3K
$303.9K – $405.2K
NOI $24,313 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Explore this area
Business Placement
Demographics for 13667, NY
3,217
Population
1,597
Households
2
Avg Household Size
44
Median Age
12%
College-Educated
83%
High-School Grad
47.0 sq mi
ZIP Area
68
Density / Sq Mi
$57,114
Median Household Income
$41,341
Median Earnings
$790
Median Rent
$111,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial kitchen - Bakery operation includes equipment, customer parking, gas heat, and public water service.
Where is this commercial kitchen located?
The property is located at 1 S Main Street Norfolk, NY.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 1,400‑square‑foot single‑story commercial kitchen; Bakery equipment included with the property; Large lot with on‑site parking for customers, deliveries, and staff
