Freestanding Storefront Property For
For Sale
Contact for pricing
Pending
121 Liberty St., Bath, NY 14810
Freestanding Sherwin-Williams store with recent lease extension.
Property Size6,700 SF
Days on Market180
Property Features for 121 Liberty St.
General Information
Standard status
Pending
Size
6,700 SF
Total Parking Spaces
22
Property subtype
Retail
Zoning
Commercial
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Building Details
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Cushman & Wakefield Pyramid Brokerage Company - Corning, New York
(607) 937-9720
Listed By:
Ronald N. Panosian · License #NY 10301203376
Source:
Crexi
Added: Feb 12
Changed: Aug 10
Last Checked: Aug 11 at 7:57AM
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 Cushman & Wakefield Pyramid Brokerage Company - Corning, New York
Investment Insights
Based on property information with market context.
This is a freestanding storefront property currently occupied by Sherwin-Williams. The tenant has been in place at this location for 39 years and recently executed a 5-year lease extension through December 31, 2031, with no additional options. The property has undergone several recent upgrades, including a new EPDM roof in 2005, new storefront glass in 2018, a new facade in 2019, and new warehouse HVAC scheduled for 2025. The property size is 6,700 square feet. The tenant is responsible for real estate taxes, insurance, HVAC repairs and replacements, parking lot repairs and replacements, and snow removal, resulting in minimal landlord responsibilities.
Key Highlights
- Freestanding Sherwin‑Williams store with a long‑term tenancy.
- Recent 5‑year lease extension through 12/31/2031.
- Established location with a 39‑year operating history.
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
$64,699
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
9.11%
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%
$1,293,980
$1.3M
Cap Rate 7%
$924,271
$924.3K
Cap Rate 9%
$718,878
$718.9K
Market Conditions
NOI Build-Up for 6,700 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
$96.5K $14.40/SF
− Vacancy
−$4.1K −$0.60/SF
EGI
$92.4K $13.80/SF
− OpEx
−$27.7K −$4.14/SF
NOI
$64.7K $9.66/SF
Area
Steuben County, NY
Vacancy
4.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$1,293,980
Cap Rate 7%
$924,271
Cap Rate 9%
$718,878
Alternative Uses
Best Use
Retail
$924.3K
$808.7K – $1.08M
NOI $64,699 @ 7.0% cap · market cap 9.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.63M
$1.43M – $1.91M
NOI $114,335 @ 7.0% cap · market cap 16.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
446
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14810, NY
11,620
Population
6,110
Households
1.9
Avg Household Size
47
Median Age
17%
College-Educated
88%
High-School Grad
120.6 sq mi
ZIP Area
96
Density / Sq Mi
$48,613
Median Household Income
$40,031
Median Earnings
$737
Median Rent
$113,300
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?
Storefront property - Freestanding Sherwin-Williams store with recent lease extension.
Where is this storefront property located?
The property is located at 121 Liberty St. Bath, NY.
What is the asking price?
The asking price for this property is $710,000.
What are key features of this property?
This property features: Freestanding Sherwin‑Williams store with a long‑term tenancy.; Recent 5‑year lease extension through 12/31/2031.; Established location with a 39‑year operating history.
