Corner Storefront
For Sale
$214,900
104 Chapman Avenue, Auburn, NY 13021
CommercialSale, Auburn, NY
Property Size1,012 SF
Lot Size0.13 Acres
Price / SF$212.35
Days on Market102
Property Features for 104 Chapman Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R1
Zoning description
Residential 1 Unit
Parking
2
Parking features
Offsite
Lot features
Rectangular, Rectangular Lot
Elementary school district
Auburn
Middle school district
Auburn
High school district
Auburn
Subdivision
Auburn-050100
Standard status
Active
APN
050100-122-027-0001-001-002-0000
Size
1,012 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
1679
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Electric (Heating), Forced Air
Water source
Public
Building Details
Year built
1950
Floors in Building
1
Number of units
1
Roof type
Flat
Listing Agency:
Rooftop Realty Group LLC
(315) 944-2198
Listed By:
Michael S Banks · License #10301223248
(315) 516-2476
Added: May 26
Changed: Aug 22
Last Checked: Sep 4 at 10:06PM
MLS# S1683436
Copyright © 2026 New York State Alliance of MLSs, LLC. 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 1,012-square-foot storefront property occupies a 0.1313-acre corner lot and was built in 1950. The building has a flat roof, natural gas and electric forced-air heating, public water, and public sewer. Offsite parking is listed among the property features.
The property is subject to a lease extending through 2030. It is located in Auburn, New York, within Cayuga County, and carries R1 zoning.
The property is subject to a lease extending through 2030. It is located in Auburn, New York, within Cayuga County, and carries R1 zoning.
Key Highlights
- 1,012 square feet on a 0.1313‑acre corner lot
- Lease in place through 2030
- R1 zoning
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
$10,180
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
4.74%
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%
$203,600
$203.6K
Cap Rate 7%
$145,429
$145.4K
Cap Rate 9%
$113,111
$113.1K
Market Conditions
NOI Build-Up for 1,012 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
$15.2K $15.00/SF
− Vacancy
−$638 −$0.63/SF
EGI
$14.5K $14.37/SF
− OpEx
−$4.4K −$4.31/SF
NOI
$10.2K $10.06/SF
Area
Cayuga County, NY
Vacancy
4.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$203,600
Cap Rate 7%
$145,429
Cap Rate 9%
$113,111
Alternative Uses
Best Use
Retail
$145.4K
$127.3K – $169.7K
NOI $10,180 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$224.3K
$196.3K – $261.7K
NOI $15,700 @ 7.0% cap · market cap 7.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
339
Businesses Nearby
39k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar Tree
Shops & Services
10,843 visits/mo
0.3 miles
Kwik Fill
Shops & Services
9,989 visits/mo
0.3 miles
Tops Gas
Shops & Services
5,082 visits/mo
0.5 miles
Family Dollar
Shops & Services
4,660 visits/mo
0.4 miles
Advance Auto Parts
Shops & Services
3,230 visits/mo
0.4 miles
Demographics for 13021, NY
38,479
Population
18,847
Households
2
Avg Household Size
44
Median Age
27%
College-Educated
91%
High-School Grad
119.2 sq mi
ZIP Area
323
Density / Sq Mi
$58,946
Median Household Income
$41,990
Median Earnings
$874
Median Rent
$169,300
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?
Storefront property - A leased commercial building with occupancy secured through 2030 and public water and sewer service.
Where is this storefront property located?
The property is located at 104 Chapman Avenue Auburn, NY.
What is the asking price?
The asking price for this property is $214,900.
What are key features of this property?
This property features: 1,012 square feet on a 0.1313‑acre corner lot; Lease in place through 2030; R1 zoning
