Contemporary Seven-Bedroom
For Sale
$449,000
181 State Highway 37B, Massena, NY 13662
COMMERCIAL - Contemporary - Massena, NY
Property Size8,694 SF
Lot Size2.00 Acres
Price / SF$51.64
Days on Market453
Property Features for 181 State Highway 37B
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Residential
Bedrooms
7
Bathrooms
6
Full bathrooms
4
Half bathrooms
2
Rooms
Bathroom 6, Bedroom 4, Bedroom 2, Bedroom 5, Bedroom 7, Bathroom 1, Den, Family Room, Bathroom 2, Bathroom 3, Bathroom 4, Dining Room, Bedroom 6, Bedroom 1, Bathroom 5, Bedroom 3
Parking features
Driveway, Garage - Detached, Garage
Interior features
Built-in features, Kitchen isle, Modern kitchen, Natural wood, Open floor plan, Pantry, Walk-in closet(s), Wall to wall closets
Exterior features
Outdoor lights
Fireplace
1
Lot features
Level lot, Oversized
Directions
From Massena go past Massena Hospital on Maple street toward SH 37. Home will be on the right hand side, look for sign.
Subdivision
ST LAWRENCE
Standard status
Active
APN
9.064-1-15.111
Size
8,694 SF
Lot size
2.00 Acres
Taxes and HOA fees
Tax Annual Amount
8100
Utilities
Utilities
Cable Available
Water source
Public
Building Details
Year built
1950
Floors in Building
2
Flooring type
Hardwood, Tile, Wood floors, Tile - Ceramic
Building materials
Vinyl siding
Roof type
Metal
Architectural style
Contemporary
Listing Agency:
Kassian Real Estate, LLC
(315) 769-0025
Listed By:
Lucille Kassian · License #40KA0346866
(315) 250-2383
Added: Jun 4, 2025
Changed: Aug 10
Last Checked: Aug 30 at 5:06AM
MLS# 51383
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 contemporary residence offers approximately 8,694 square feet of living space on a 2-acre lot. The layout includes 7 bedrooms, 4 full bathrooms, and 2 half bathrooms, with hardwood, tile, and some laminate flooring. The main floor features a primary bedroom and bath, a family room with a fireplace, and a large great room with dining and sitting areas. The kitchen is equipped with a 14-foot island, Kraft-Maid soft-close cabinets, quartz countertops, and a 10-burner natural gas stove, plus additional refrigeration and a commercial undercounter dishwasher with an 80-second cycle. Additional main-floor amenities include a sunroom with French doors, an oversized gym and laundry area, and walk-in closets. Upstairs adds a den and 6 more bedrooms, along with 3 remodeled bathrooms. Updates noted include windows, siding, doors, and a roof all within the last 5 years. The home is heated with natural gas and includes central air on the main floor, plus three mini-split units.
Located at 181 State Highway 37B in Massena, NY, the property sits on a substantial parcel along the state highway corridor.
For buyers seeking a larger, multi-bedroom home with dedicated recreation and entertainment areas—along with multiple updated heating and air systems—this property’s full-room configuration on the main and upper floors may fit well for extended household needs or live-in hosting space.
Located at 181 State Highway 37B in Massena, NY, the property sits on a substantial parcel along the state highway corridor.
For buyers seeking a larger, multi-bedroom home with dedicated recreation and entertainment areas—along with multiple updated heating and air systems—this property’s full-room configuration on the main and upper floors may fit well for extended household needs or live-in hosting space.
Key Highlights
- Over 8,400 sq ft home on 2 acres with 7 bedrooms, 4 full bathrooms, and 2 half bathrooms
- Kitchen features include a 14‑foot island, Kraft‑Maid soft‑close cabinets, quartz countertops, and a 10‑burner natural gas stove
- Main‑floor primary bedroom with attached bath, plus a family room with fireplace
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
$40,676
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
9.06%
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%
$813,520
$813.5K
Cap Rate 7%
$581,086
$581.1K
Cap Rate 9%
$451,956
$452.0K
Market Conditions
NOI Build-Up for 8,694 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
$94.9K $10.92/SF
− Vacancy
−$21.0K −$2.41/SF
EGI
$74.0K $8.51/SF
− OpEx
−$33.3K −$3.83/SF
NOI
$40.7K $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%
$813,520
Cap Rate 7%
$581,086
Cap Rate 9%
$451,956
Alternative Uses
Best Use
Apartment 5plus
$581.1K
$508.5K – $677.9K
NOI $40,676 @ 7.0% cap · market cap 9.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $150,983 @ 7.0% cap · market cap 33.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
36
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - A sizable contemporary home with multiple bedrooms and entertainment-focused living spaces, set on two acres.
Where is this single family property located?
The property is located at 181 State Highway 37B Massena, NY.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Over 8,400 sq ft home on 2 acres with 7 bedrooms, 4 full bathrooms, and 2 half bathrooms; Kitchen features include a 14‑foot island, Kraft‑Maid soft‑close cabinets, quartz countertops, and a 10‑burner natural gas stove; Main‑floor primary bedroom with attached bath, plus a family room with fireplace
