Massena Multi-Family Investment
For Sale
$199,000
18 Park Ave, Massena, NY 13662
COMMERCIAL - Massena, NY
Property Size3,900 SF
Price / SF$51.03
Days on Market315
Property Features for 18 Park Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
11
Bathrooms
7
Full bathrooms
7
Half bathrooms
1
Rooms
Bedroom 6, Bathroom 3, Bedroom 5, Bedroom 3, Bedroom 11, Bedroom 2, Bedroom 1, Bathroom 2, Bedroom 10, Bathroom 4, Bedroom 7, Bedroom 8, Bathroom 1, Bedroom 4, Bedroom 9
Interior features
Built-in features
Exterior features
Outdoor lights
Directions
From Parker Ave bridge, go completely around the roundabout, then turn right onto Park Avenue and the buiding will be on the immediate right.
Subdivision
ST LAWRENCE
Standard status
Active
APN
40581 9.059-4-29.1
Size
3,900 SF
Utilities
Utilities
Cable Available
Water source
Public
Building Details
Year built
1930
Floors in Building
3
Number of units
7
Flooring type
Carpet, Wood floors
Architectural style
Other
Listing Agency:
1st Class Realty Group
(315) 769-2500
Listed By:
Diana Dufresne · License #10371202021
(315) 769-7533
Added: Oct 20, 2025
Changed: Aug 17
Last Checked: Aug 30 at 7:06PM
MLS# 52067
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 seven-unit multi-family property in Massena, NY, presents an investment opportunity requiring sweat equity. The property, with a size of 3900 square feet, offers river views from the upper floors. It is currently vacant and has sustained severe damage, resulting in its boarded-up condition and reduced price. Restoration is needed to return the property to its previous condition. This property is intended for investors willing to undertake renovation work to capitalize on its potential as a rental property.
Key Highlights
- 7‑unit multi‑family property in Massena, NY
- River view from the upper floors
- Property is vacant and severely damaged, boarded up
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
$18,247
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
9.17%
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%
$364,940
$364.9K
Cap Rate 7%
$260,671
$260.7K
Cap Rate 9%
$202,744
$202.7K
Market Conditions
NOI Build-Up for 3,900 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
$42.6K $10.92/SF
− Vacancy
−$9.4K −$2.41/SF
EGI
$33.2K $8.51/SF
− OpEx
−$14.9K −$3.83/SF
NOI
$18.2K $4.68/SF
Area
St. Lawrence County, NY
Vacancy
22.10%
Lease Rate
$10.92 /SF/Yr
Expense Ratio
45.00%
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%
$364,940
Cap Rate 7%
$260,671
Cap Rate 9%
$202,744
Alternative Uses
Best Use
Apartment 5plus
$260.7K
$228.1K – $304.1K
NOI $18,247 @ 7.0% cap · market cap 9.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$967.6K
$846.6K – $1.13M
NOI $67,729 @ 7.0% cap · market cap 34.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
435
Businesses Nearby
Explore this area
Business Placement
Demographics for 13662, NY
15,814
Population
7,785
Households
2
Avg Household Size
44
Median Age
24%
College-Educated
89%
High-School Grad
89.2 sq mi
ZIP Area
177
Density / Sq Mi
$56,987
Median Household Income
$38,535
Median Earnings
$712
Median Rent
$118,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Seven-unit property in Massena, NY, requiring renovation.
Where is this apartment building located?
The property is located at 18 Park Ave Massena, NY.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: 7‑unit multi‑family property in Massena, NY; River view from the upper floors; Property is vacant and severely damaged, boarded up
