Commercial Land with Existing
For Sale
$1,490,000
2931-39 State Route 49, West Monroe, NY 13167
CommercialSale, West Monroe, NY
Property Size8,356 SF
Lot Size13.00 Acres
Price / SF$178.31
Days on Market510
Property Features for 2931-39 State Route 49
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
RES/COM
Zoning description
Commercial
Rooms
Basement
Parking
50
Lot features
Rectangular, Rectangular Lot
Middle school
Central Square Middle
High school
Paul V Moore High
Elementary school district
Central Square
Middle school district
Central Square
High school district
Central Square
Directions
Directly off Interstate-81 at Central Square Exit. Take A Right towards West Monroe.
Subdivision
West Monroe-356000
Standard status
Active
APN
356000-276-000-0002-002-000-0000
Size
8,356 SF
Lot size
13.00 Acres
Taxes and HOA fees
Tax Annual Amount
12388
Utilities
Sewer type
Septic Tank
Heating system
Oil, Forced Air, Propane (Heating)
Building Details
Year built
1903
Floors in Building
2
Building materials
Block, MetalSiding, WoodSiding
Roof type
Metal, Shingle
Listing Agency:
Candy Costa Real Estate LLC
(315) 505-6609
Listed By:
Candy Costa · License #10491209117
(315) 447-0668
Added: Apr 24, 2025
Changed: Sep 12
Last Checked: Sep 15 at 2:06AM
MLS# S1601813
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 13-acre commercial land parcel includes 365 feet of frontage on Route 49 and a collection of existing improvements. The property contains a 1,604-square-foot single-family home along with five additional buildings: two pole barns, a garage, a shed, and a storage building. The structures use block, metal siding, and wood siding, with shingle and metal roofing. Current site utilities include a septic tank, while natural gas infrastructure is expected to arrive soon and public sewer development is underway.
The property is located seconds from the Central Square exit of Interstate 81 and minutes from the North Shore of Oneida Lake. The site is also near the planned Micron facility location. RES/COM zoning is identified in the property information, and the improvements previously supported a golf shop and driving range.
The property is located seconds from the Central Square exit of Interstate 81 and minutes from the North Shore of Oneida Lake. The site is also near the planned Micron facility location. RES/COM zoning is identified in the property information, and the improvements previously supported a golf shop and driving range.
Key Highlights
- 13 acres with 365 feet of Route 49 frontage
- Seconds from the Central Square exit on Interstate 81
- Includes a 1,604 sqft single‑family home
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
$107,933
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
7.24%
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%
$2,158,660
$2.2M
Cap Rate 7%
$1,541,900
$1.5M
Cap Rate 9%
$1,199,256
$1.2M
Market Conditions
NOI Build-Up for 8,356 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
$180.5K $21.60/SF
− Vacancy
−$14.4K −$1.73/SF
EGI
$166.1K $19.87/SF
− OpEx
−$58.1K −$6.96/SF
NOI
$107.9K $12.92/SF
Area
Oswego County, NY
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
35.00%
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%
$2,158,660
Cap Rate 7%
$1,541,900
Cap Rate 9%
$1,199,256
Alternative Uses
Best Use
Flex RnD
$1.54M
$1.35M – $1.80M
NOI $107,933 @ 7.0% cap · market cap 7.24%
Second Best
Industrial
$738.3K
$646.0K – $861.3K
NOI $51,680 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$1.67M
$1.46M – $1.94M
NOI $116,668 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
133
Businesses Nearby
Explore this area
Business Placement
Demographics for 13167, NY
3,263
Population
1,339
Households
2.4
Avg Household Size
43
Median Age
18%
College-Educated
87%
High-School Grad
36.7 sq mi
ZIP Area
89
Density / Sq Mi
$74,700
Median Household Income
$41,538
Median Earnings
$1,228
Median Rent
$164,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Commercial land - Route 49 frontage, Interstate 81 access, and multiple existing structures support a range of commercial development concepts.
Where is this commercial land located?
The property is located at 2931-39 State Route 49 West Monroe, NY.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: 13 acres with 365 feet of Route 49 frontage; Seconds from the Central Square exit on Interstate 81; Includes a 1,604 sqft single‑family home
