Building Details

Building Size 1,673 SF

Year Built 1954

Buildings 1

Stories 1

Listing Agency: Howard Hanna-Watertown v***@howardhanna.com Show Phone

Listed By: Vicki S Bulger Show Phone

Source: Northstarwny

Added: Jun 2 Changed: Aug 23 Last Checked: Aug 25 at 8:27AM

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Investment Insights

Based on property information with market context.

This seasonal storefront property is offered for sale as a convenience store with an attached liquor store. The operation is described as fully stocked, and the seller notes improvements made within the last two years. The property also includes a singlewide home on the land used for storage and restrooms, along with additional rental-related inventory for items such as kayaks and camper wood.

The listing references that gas tanks were removed and that the owner has the appropriate Phase II environmental paperwork. No further site or frontage details are provided in the materials.

For buyers looking to own a ready-to-operate retail business, the combination of a convenience store and attached liquor store may support a streamlined customer offering on one site. The included storage and restroom accommodations in the singlewide home can help with day-to-day operations, while the documented environmental status may reduce uncertainty for prospective purchasers. Interested parties should request the seller’s improvement list for additional detail.

Key Highlights

• Seasonal storefront business with a convenience store plus an attached liquor store
• Owner has made improvements within the last two years (ask for the improvement list)
• Gas tanks were removed, with Phase II environmental paperwork available

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

$20,194

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

7.77%

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%

$403,880 $403.9K

Cap Rate 7%

$288,486 $288.5K

Cap Rate 9%

$224,378 $224.4K

Market Conditions

NOI Build-Up for 1,673 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

$30.1K $18.00/SF

− Vacancy

−$1.3K −$0.76/SF

EGI

$28.8K $17.24/SF

− OpEx

−$8.7K −$5.17/SF

NOI

$20.2K $12.07/SF

Area

Jefferson County, NY

Vacancy

4.20%

Lease Rate

$18.00 /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%

$403,880

Cap Rate 7%

$288,486

Cap Rate 9%

$224,378

Alternative Uses

Best Use

Retail

$288.5K

$252.4K – $336.6K (±1% cap)

NOI $20,194 @ 7.0% cap · market cap 7.77%

Second Best

Specialty Retail

$245.2K

$214.6K – $286.1K (±1% cap)

NOI $17,165 @ 7.0% cap · market cap 6.60%

Theoretical Best

Office A

$461.2K

$403.5K – $538.0K (±1% cap)

NOI $32,282 @ 7.0% cap · market cap 12.42%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Grocery and convenience stores

Suggested Use

Top Pick Auto Parts Store Storage Facility Food Market Grocery & Convenience Store Restaurant Hotel & Motel

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

11

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 13685, NY

2,224

Population

1,444

Households

1.5

Avg Household Size

43

Median Age

42%

College-Educated

97%

High-School Grad

14.3 sq mi

ZIP Area

156

Density / Sq Mi

$85,195

Median Household Income

$54,185

Median Earnings

$1,364

Median Rent

$286,300

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

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What type of property is this? Where is this grocery and convenience stores located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Seasonal storefront includes a convenience store and an attached liquor store, supported by recent improvements and completed environmental documentation.

Where is this grocery and convenience store located?

The property is located at 12559/561 Ridge Road Sackets Harbor, NY.

What is the asking price?

The asking price for this property is $259,900.

What are key features of this property?

This property features: Seasonal storefront business with a convenience store plus an attached liquor store; Owner has made improvements within the last two years (ask for the improvement list); Gas tanks were removed, with Phase II environmental paperwork available