Massena Multi-Family Investment
For Sale
$199,900
3-5 Cedar Street/Woodlawn, Massena, NY 13662
COMMERCIAL - Massena, NY
Property Size1,500 SF
Price / SF$133.27
Days on Market243
Property Features for 3-5 Cedar Street/Woodlawn
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
9
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 7, Bathroom 2, Bedroom 3, Bedroom 5, Bedroom 8, Bedroom 2, Bathroom 3, Bedroom 6, Bedroom 9, Bedroom 1, Bedroom 4
Patio and Porch features
Porch
Exterior features
Covered porch, Storage/out-building(s)
Directions
Massena: Cedar Street can be accessed from Liberty Ave. Properties are actoss from the Alcoa Field Park.
Subdivision
ST LAWRENCE
Standard status
Active
APN
9.051-3-21
Size
1,500 SF
Utilities
Utilities
Cable Available
Water source
Public
Amenities
covered front porch
Building Details
Year built
1960
Floors in Building
2
Number of units
3
Flooring type
Hardwood
Building materials
Aluminum siding, Brick exterior, Wood siding
Roof type
Metal, Shingle
Architectural style
Other
Additional Structures
Storage
Listing Agency:
1st Class Realty Group
(315) 769-2500
Listed By:
Diana Dufresne · License #10371202021
(315) 769-7533
Added: Dec 30, 2025
Changed: Aug 17
Last Checked: Aug 30 at 2:06PM
MLS# 52264
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.
Located in Massena, New York, this property at 3 & 5 Cedar Street offers an investment opportunity with two side-by-side apartments in a red brick building. One unit features four bedrooms, with three located upstairs and one downstairs, and one bathroom with all-electric heat and a covered front porch. The other unit includes three bedrooms, one bathroom, laminate flooring, main floor laundry, and a covered front porch. The property is currently occupied with long-term tenants, generating a combined rental income of $1,600 per month. The building features brick siding and a metal aluminum roof approximately 10 years old. Situated within walking distance to a park and downtown Massena, the location provides access to restaurants, parks, a library, and museums. The area is suitable for outdoor activities such as fishing, boating, hiking, swimming, skiing, and camping. The property is a short drive from the Massena Airport, offering direct flights to Boston, Clarkson University, SUNY Potsdam, St. Lawrence University, Ottawa, Montreal, and Plattsburgh. The property is part of a multiple unit featuring 21 apartments and can be bought individually or as a complex of 21 units. The property size is approximately 1500 square feet.
Key Highlights
- Two side‑by‑side rental units at 3 & 5 Cedar Street: 4‑bedroom (1 bath) and 3‑bedroom (1 bath).
- Currently occupied by long‑term tenants with combined rent of $1,600/month.
- Metal roof is approximately 10 years old; brick exterior with aluminum/wood siding.
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
$7,665
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
3.83%
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%
$153,300
$153.3K
Cap Rate 7%
$109,500
$109.5K
Cap Rate 9%
$85,167
$85.2K
Market Conditions
NOI Build-Up for 1,500 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
$13.9K $9.24/SF
− Vacancy
−$2.9K −$1.94/SF
EGI
$10.9K $7.30/SF
− OpEx
−$3.3K −$2.19/SF
NOI
$7.7K $5.11/SF
Area
St. Lawrence County, NY
Vacancy
21.00%
Lease Rate
$9.24 /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%
$153,300
Cap Rate 7%
$109,500
Cap Rate 9%
$85,167
Alternative Uses
Best Use
Multifamily LT 5
$109.5K
$95.8K – $127.8K
NOI $7,665 @ 7.0% cap · market cap 3.83%
Second Best
Apartment 5plus
$100.3K
$87.7K – $117.0K
NOI $7,018 @ 7.0% cap · market cap 3.51%
Theoretical Best
Office A
$372.1K
$325.6K – $434.2K
NOI $26,050 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
296
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit property near downtown Massena with stable rental income.
Where is this duplex located?
The property is located at 3-5 Cedar Street/Woodlawn Massena, NY.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two side‑by‑side rental units at 3 & 5 Cedar Street: 4‑bedroom (1 bath) and 3‑bedroom (1 bath).; Currently occupied by long‑term tenants with combined rent of $1,600/month.; Metal roof is approximately 10 years old; brick exterior with aluminum/wood siding.
