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: Wcirealty

Added: Jun 2 Changed: Aug 28 Last Checked: Aug 29 at 10:21AM

Report an Issue

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 Howard Hanna-Watertown

Investment Insights

Based on property information with market context.

Wescotts Variety Store is a seasonal convenience retail operation with an attached liquor store. The premises include store inventory along with kayak rentals and firewood for campers, supporting several existing revenue activities tied to the property.

The property is located at 12559/561 Ridge Road in Hounsfield, New York. Improvements have been completed within the last two years, although the specific work is not detailed here. Former gas tanks were removed, and Phase II environmental documentation is available. A singlewide home on the land is used for storage and restrooms.

Key Highlights

• Convenience store with an attached liquor store
• Seasonal operation includes kayak rentals and camper firewood
• Improvements completed within the last two years

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

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

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?

Ask Rey about this property ...

Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Seasonal operation includes a stocked store, kayak rentals, and camper firewood.

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: Convenience store with an attached liquor store; Seasonal operation includes kayak rentals and camper firewood; Improvements completed within the last two years