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    59 Main St Camden, NY 13316

    Sponsored
    For Sale
    $995,000

    Established Business, Multiple Buildings, High Revenue

    Property size:
    6,000 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    346
    This exceptional investment opportunity encompasses a thriving, historically significant hardware store – the 8th oldest in the US – operating for 175 years at 59 Main Street, Camden, NY. The sale includes four properties: the main hardware store building at 59 Main Street, an additional retail space at 61 Main Street, a warehouse located on South Park Street, and a separate office building at 5 Masonic Avenue. The 6,000 square foot hardware store is fully operational and includes all inventory, equipment, and fixtures. This inventory includes appliances, pellets, paint (with a two-year-old mixing machine), two forklifts, a truck with a lift (lease to be assumed by the buyer), two pallet jacks, and a complete point-of-sale system. Above 61 Main Street are two one-bedroom apartments generating rental income. The 5 Masonic Avenue property offers 5,600 square feet of office space, also producing rental income, and an attached 4,000 square foot pole barn ideal for inventory storage. The 0.06-acre lot provides ample space for operations. This turnkey business offers a unique chance to acquire a well-established enterprise with significant assets and multiple income streams. The asking price for this complete package is $995,000. This sale includes properties with MLS numbers S1505310, S1505322, S1505326, and S1535329.

    Property Features for 59 Main St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    6,000 SF
    Lot Size
    2,614 SF

    Building Details

    Year Built
    1848
    Location Intelligence

    Current Use by Public Records

    Carpenter's Paint & Hardware Hardware Store

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Camden
    County
    Oneida
    State
    New York
    Longitude
    -75.7476
    Latitude
    43.33467

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    FAQs

    What type of property is this?
    Commercial real estate - Established Business, Multiple Buildings, High Revenue
    Where is this commercial real estate located?
    The property is located at 59 Main St Camden, NY.
    What is the asking price?
    The asking price for this property is $995,000.
    (315) 820-4200
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    59 Main St Camden, NY 13316
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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
    59 Main St Camden, NY 13316
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