Mixed-Use Property with
For Sale
$750,000
155 CENTER ST, Massena, NY 13662
Waterfront commercial property combines food service, a bar, apartments, and a drive-through window in one operating asset.
Property Size3,990 SF
Price / SF$187.97
Days on Market485
Property Features for 155 CENTER ST
General Information
Standard status
Active
Size
3,990 SF
Property subtype
Multi-Family
Additional Details
Business Included
Yes
Drive-Thru
Yes
Taxes and HOA fees
Annual Taxes
$7,540
Amenities
3
Metal
55 x 250 & 95 x 350
Building Details
Year Built
1960
Stories
2
Listing Agency:
Paul Post Realty
(315) 250-3527
Listed By:
Timothy P Post · License #30PO0714028
Source:
Xome
Added: May 3, 2025
Changed: Aug 30
Last Checked: Aug 30 at 4:56AM
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 Paul Post Realty
Investment Insights
Based on property information with market context.
Built in 1960, this 3,990 SF mixed-use property combines a restaurant, full bar, drive-through window, and residential space. The dining operation includes seating for approximately 30, with additional seating associated with the bar. Two large apartments are part of the property and are currently occupied by the owners. Metal exterior construction is noted.
The property is located at 155 Center St in Massena, NY, and the entire holding is described as waterfront. A sizable adjacent lot provides space currently suited for parking or possible future development, subject to applicable approvals. Lot dimensions are identified as 55 x 250 and 95 x 350. The restaurant serves Italian food and the property has operated as a family establishment for more than 50 years.
The property is located at 155 Center St in Massena, NY, and the entire holding is described as waterfront. A sizable adjacent lot provides space currently suited for parking or possible future development, subject to applicable approvals. Lot dimensions are identified as 55 x 250 and 95 x 350. The restaurant serves Italian food and the property has operated as a family establishment for more than 50 years.
Key Highlights
- 3,990 SF mixed‑use property built in 1960
- Restaurant with full bar, drive‑through window, and seating for approximately 30
- Two large apartments, currently occupied by the owners
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
$61,923
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
8.26%
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%
$1,238,460
$1.2M
Cap Rate 7%
$884,614
$884.6K
Cap Rate 9%
$688,033
$688.0K
Market Conditions
NOI Build-Up for 3,990 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
$86.2K $21.60/SF
− Vacancy
−$3.6K −$0.91/SF
EGI
$82.6K $20.69/SF
− OpEx
−$20.6K −$5.17/SF
NOI
$61.9K $15.52/SF
Area
St. Lawrence County, NY
Vacancy
4.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$1,238,460
Cap Rate 7%
$884,614
Cap Rate 9%
$688,033
Alternative Uses
Best Use
Specialty Retail
$884.6K
$774.0K – $1.03M
NOI $61,923 @ 7.0% cap · market cap 8.26%
Second Best
Mixed Use
$384.8K
$336.7K – $448.9K
NOI $26,933 @ 7.0% cap · market cap 3.59%
Theoretical Best
Office A
$989.9K
$866.2K – $1.15M
NOI $69,292 @ 7.0% cap · market cap 9.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
432
Businesses Nearby
17k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 49%
Dining 38%
Hotels & Casinos 13%
Jreck Subs
Dining
6,433 visits/mo
0.5 miles
Sunoco
Shops & Services
3,493 visits/mo
0.4 miles
KeyBank
Shops & Services
3,202 visits/mo
0.3 miles
Quality Inn
Hotels & Casinos
2,202 visits/mo
0.4 miles
Slc Self Storage
Shops & Services
943 visits/mo
0.0 miles
Demographics for 13662, NY
15,814
Population
7,785
Households
2
Avg Household Size
44
Median Age
24%
College-Educated
89%
High-School Grad
89.2 sq mi
ZIP Area
177
Density / Sq Mi
$56,987
Median Household Income
$38,535
Median Earnings
$712
Median Rent
$118,300
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?
Mixed-use property - Waterfront commercial property combines food service, a bar, apartments, and a drive-through window in one operating asset.
Where is this mixed-use property located?
The property is located at 155 CENTER ST Massena, 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: 3,990 SF mixed‑use property built in 1960; Restaurant with full bar, drive‑through window, and seating for approximately 30; Two large apartments, currently occupied by the owners
