Corner Service Station
117 Albany Street Cazenovia, NY 13035
117 Albany Street, Cazenovia, NY, 13035
$750,000
For Sale
$750,000
Former service station on a highly traveled Route 20 corner with strong frontage and redevelopment or flexible retail use options.
Property Size1,148 SF
Price / SF$653.31
Days on Market107
Property Features for 117 Albany Street
General Information
- Standard status
- Active
- Size
- 1,148 SF
Listing agency
Limestone Creek Properties LLC
(315) 391-9073
Listed by
Sean Hagan · License #10491212877
(315) 391-9073
Source
Exprealty
Added: Apr 8 Updated: Jul 22 at 4:53AM Checked: Jul 22 at 4:53AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Limestone Creek Properties LLC
Investment Insights
Based on property information with market context.
This corner commercial property was formerly home to Colligan & Sons Service Station. The existing structures offer flexibility for a range of uses, including retail, office, or a café, with redevelopment also described as an option for the site.
The property is located in the heart of the Village of Cazenovia along highly traveled Route 20, and it is positioned to capture visibility and customer interest from the road. It also benefits from an adjacent parcel currently under development into a mixed-use project featuring apartments, retail space, and underground parking.
As a well-known corner site with strong frontage, the property’s configuration supports multiple redevelopment and re-tenanting approaches consistent with the uses noted in the offering.
The property is located in the heart of the Village of Cazenovia along highly traveled Route 20, and it is positioned to capture visibility and customer interest from the road. It also benefits from an adjacent parcel currently under development into a mixed-use project featuring apartments, retail space, and underground parking.
As a well-known corner site with strong frontage, the property’s configuration supports multiple redevelopment and re-tenanting approaches consistent with the uses noted in the offering.
Key Highlights
- Former Colligan & Sons service station on a highly traveled Route 20 corner in the Village of Cazenovia
- Strong frontage and steady traffic flow with the property positioned along Route 20
- Existing structures offer potential for retail, office, or café use
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $39.3k | $34.20 |
| − Vacancy | −$707 | −$0.62 |
| EGI | $38.6k | $33.58 |
| − OpEx | −$11.6k | −$10.08 |
| NOI | $27.0k | $23.51 |
1,148 SF · lease $34.20/SF/yr · vacancy 1.80% · expense 30.00%
Alternative Uses
Best Use
Industrial
$385.5K
$337.4K – $449.8K
NOI $26,988 @ 7.0% cap · market cap 3.60%
Second Best
Retail
$212.0K
$185.5K – $247.3K
NOI $14,840 @ 7.0% cap · market cap 1.98%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
AL'S AUTOMOTIVE LLC
Auto Repair Shop
Similar For Sale Nearby
FAQs
What type of property is this?
Gas station - Former service station on a highly traveled Route 20 corner with strong frontage and redevelopment or flexible retail use options.
Where is this gas station located?
The property is located at 117 Albany Street Cazenovia, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Former Colligan & Sons service station on a highly traveled Route 20 corner in the Village of Cazenovia; Strong frontage and steady traffic flow with the property positioned along Route 20; Existing structures offer potential for retail, office, or café use
