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    345 Cornelia St Plattsburgh, NY 12901

    For Sale
    $1,950,000

    High-yield retail building with strong tenants.

    Property size:
    12,500 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    316
    This exceptional investment property located at 345 Cornelia St, Unit 345, Plattsburgh, NY, offers a compelling opportunity for savvy investors. The 12,500 square foot retail building sits on a 0.57-acre lot and boasts a strong tenant roster, ensuring consistent income generation. An anchor tenant, Curaleaf Medical Cannabis Dispensary, is secured with a new 8-year triple net (NNN) lease, providing long-term stability. Additional tenants include Shumway Insurance Agency, under a 5-year lease with escalations, and Tech Cellar Cellphone Repair, a 9-year tenant. The remaining space is occupied by professional offices. The property also includes a valuable asset: a 20 x 40 heated garage with a 14-foot overhead door, adding further utility and potential income streams. The property currently enjoys an 8% capitalization rate. Detailed financial information, including income and expense statements, will be provided upon execution of a non-disclosure agreement (NDA) and verification of the buyer's financial capacity. The seller is open to considering a 1031 exchange involving smaller properties, residential properties, land, income-producing properties, or other suitable assets. Creative financing options will also be considered. Property taxes reflect the current assessed value.

    Property Features for 345 Cornelia St

    General Information

    Property type
    Retail properties
    Square Feet
    12,500 SF
    Lot Size
    24,829 SF

    Building Details

    Year Built
    1973
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Longitude Catering Caterer Robert L Shumway ... Insurance Agency Curaleaf NY Plattsburgh Cannabis Store Adirondack Coast Realty Commercial Real Estate Agency Jennifer Facteau-Rabideau Nurse Practitioner

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Plattsburgh
    County
    Clinton
    State
    New York
    Longitude
    -73.48093
    Latitude
    44.69676

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    FAQs

    What type of property is this?
    Retail property - High-yield retail building with strong tenants.
    Where is this retail property located?
    The property is located at 345 Cornelia St Plattsburgh, NY.
    What is the asking price?
    The asking price for this property is $1,950,000.
    (518) 324-3248
    Request Owner's contact information
    345 Cornelia St Plattsburgh, NY 12901
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    Plattsburgh, NY 12901
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    345 Cornelia St Plattsburgh, NY 12901
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