Commercial Kitchen With Bakery
For Sale
$249,000
1 S Main Street, Norfolk, NY 13667
COMMERCIAL - Norfolk, NY
Property Size1,400 SF
Price / SF$177.86
Days on Market219
Property Features for 1 S Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Com 1
Exterior features
Outdoor lights
Lot features
Level lot
Elementary school district
Norwood-Norfolk Central School District
Middle school district
Norwood-Norfolk Central School District
High school district
Norwood-Norfolk Central School District
Directions
Bakery is located on SH 56 in Norfolk coming from Massena on the left hand side. No sign.
Subdivision
ST LAWRENCE
Standard status
Active
APN
32.067-3-4
Size
1,400 SF
Taxes and HOA fees
Tax Annual Amount
850
Utilities
Water source
Public
Building Details
Year built
1950
Floors in Building
1
Building materials
Concrete block
Architectural style
Other
Listing Agency:
Kassian Real Estate, LLC
(315) 769-0025
Listed By:
Lucille Kassian · License #40KA0346866
(315) 250-2383
Added: Jan 12
Changed: Aug 4
Last Checked: Aug 19 at 10:06PM
MLS# 52292
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 at 1 S Main Street in Norfolk, this 1,400-square-foot commercial kitchen is configured for bakery operations within a single-story concrete block building. Most equipment is included, supporting continued food-production use without relying on an entirely empty space. The property was built in 1950 and includes gas heating, an electric water heater, outdoor lighting, and public water service.
The site fronts a busy state highway between Potsdam and Massena, with the address providing a Norfolk location for customer and delivery access. A large lot offers ample parking for the property’s daily operations. Com 1 zoning is in place, and the facility is offered with the bakery business context described in the listing.
The site fronts a busy state highway between Potsdam and Massena, with the address providing a Norfolk location for customer and delivery access. A large lot offers ample parking for the property’s daily operations. Com 1 zoning is in place, and the facility is offered with the bakery business context described in the listing.
Key Highlights
- 1,400 SF single‑story commercial kitchen
- Most bakery equipment included
- Large lot with ample parking
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
$21,727
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
8.73%
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%
$434,540
$434.5K
Cap Rate 7%
$310,386
$310.4K
Cap Rate 9%
$241,411
$241.4K
Market Conditions
NOI Build-Up for 1,400 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
$30.2K $21.60/SF
− Vacancy
−$1.3K −$0.91/SF
EGI
$29.0K $20.69/SF
− OpEx
−$7.2K −$5.17/SF
NOI
$21.7K $15.52/SF
Area
St. Lawrence County, NY
Vacancy
4.20%
Lease Rate
$21.60 /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%
$434,540
Cap Rate 7%
$310,386
Cap Rate 9%
$241,411
Alternative Uses
Best Use
Specialty Retail
$310.4K
$271.6K – $362.1K
NOI $21,727 @ 7.0% cap · market cap 8.73%
Second Best
Retail
$254.3K
$222.5K – $296.7K
NOI $17,800 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$347.3K
$303.9K – $405.2K
NOI $24,313 @ 7.0% cap · market cap 9.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Turnkey business
Opportunity
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
82
Businesses Nearby
Explore this area
Business Placement
Demographics for 13667, NY
3,217
Population
1,597
Households
2
Avg Household Size
44
Median Age
12%
College-Educated
83%
High-School Grad
47.0 sq mi
ZIP Area
68
Density / Sq Mi
$57,114
Median Household Income
$41,341
Median Earnings
$790
Median Rent
$111,400
Median Home Value
Market
Vacancy Rate% for Retail 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?
Commercial kitchen - Single-story bakery facility with included equipment, gas heat, and public water service.
Where is this commercial kitchen located?
The property is located at 1 S Main Street Norfolk, NY.
What is the asking price?
The asking price for this property is $249,000.
What are key features of this property?
This property features: 1,400 SF single‑story commercial kitchen; Most bakery equipment included; Large lot with ample parking
