Convenience Store with Quick-Service
For Sale
$650,000
435 Sing Sing Road, Horseheads, NY 14845
Commercial, HORSEHEADS, NY
Property Size2,872 SF
Lot Size0.46 Acres
Price / SF$226.32
Days on Market118
Property Features for 435 Sing Sing Road
General Information
Property type
Commercial Sale
Property subtype
Retail
Parking
15
Elementary school district
Horseheads
Middle school district
Horseheads
High school district
Horseheads
Directions
Take Kahler Road heading north to Sing Sing Road, turn Right. Go past the airport, property is on the left.
Subdivision
Area 01
Standard status
Active
Size
2,872 SF
Lot size
0.46 Acres
Utilities
Cooling system
Central Air
Water source
Well
Building Details
Year built
1996
Flooring type
Tile
Roof type
Metal
Listing Agency:
KELLER WILLIAMS REALTY GREATER BINGHAMTON
(607) 722-0722
Listed By:
Karen Louise Whalen
(607) 727-6232
Added: May 4
Changed: Aug 19
Last Checked: Aug 29 at 6:06PM
MLS# 335601
Copyright © 2026 Greater Binghamton Association of Realtor. 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 2,872-square-foot convenience store and quick-service food operation occupies a 0.46-acre property at 435 Sing Sing Road in Horseheads, New York. The facility includes a commercial kitchen, walk-in freezer, refrigeration units, dine-in seating, and existing inventory. Central air, tile flooring, a metal roof, and a well serve the property, which was built in 1996.
The business is positioned near Elmira Airport and close to I-86, with nearby businesses and airport employees identified as sources of customer traffic. New York State lottery sales provide an additional business component. The sale includes the equipment and inventory associated with the current operation, including the food-service setup and refrigeration infrastructure.
The business is positioned near Elmira Airport and close to I-86, with nearby businesses and airport employees identified as sources of customer traffic. New York State lottery sales provide an additional business component. The sale includes the equipment and inventory associated with the current operation, including the food-service setup and refrigeration infrastructure.
Key Highlights
- 2,872 SF convenience store and quick‑service food operation
- 0.46‑acre property at 435 Sing Sing Road, Horseheads, NY 14845
- Commercial kitchen, walk‑in freezer, and refrigeration units included
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
$29,653
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
4.56%
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%
$593,060
$593.1K
Cap Rate 7%
$423,614
$423.6K
Cap Rate 9%
$329,478
$329.5K
Market Conditions
NOI Build-Up for 2,872 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
$41.4K $14.40/SF
− Vacancy
−$1.8K −$0.63/SF
EGI
$39.5K $13.77/SF
− OpEx
−$9.9K −$3.44/SF
NOI
$29.7K $10.32/SF
Area
Chemung County, NY
Vacancy
4.40%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
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%
$593,060
Cap Rate 7%
$423,614
Cap Rate 9%
$329,478
Alternative Uses
Best Use
Specialty Retail
$423.6K
$370.7K – $494.2K
NOI $29,653 @ 7.0% cap · market cap 4.56%
Second Best
Retail
$317.1K
$277.4K – $369.9K
NOI $22,195 @ 7.0% cap · market cap 3.41%
Theoretical Best
Multifamily LT 5
$26.14M
$22.88M – $30.50M
NOI $1,830,076 @ 7.0% cap · market cap 281.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
29
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 14845, NY
20,628
Population
9,370
Households
2.2
Avg Household Size
46
Median Age
35%
College-Educated
96%
High-School Grad
78.2 sq mi
ZIP Area
264
Density / Sq Mi
$76,617
Median Household Income
$45,909
Median Earnings
$1,175
Median Rent
$183,900
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?
Grocery and convenience store - Equipped convenience store with dine-in seating, refrigeration, and food-preparation areas.
Where is this grocery and convenience store located?
The property is located at 435 Sing Sing Road Horseheads, NY.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 2,872 SF convenience store and quick‑service food operation; 0.46‑acre property at 435 Sing Sing Road, Horseheads, NY 14845; Commercial kitchen, walk‑in freezer, and refrigeration units included
