Established Grocery Store and
13854 State Route 28, Forestport, NY 13338
For Sale
$550,000
Grocery and gas station serving Otter Lake and Old Forge.
Property Size3,200 SF
Lot Size1.16 Acres
Price / SF$171.88
Days on Market873
Property Features for 13854 State Route 28
General Information
Standard status
Size
Lot size
Taxes and HOA fees
Annual Taxes
Listing Agency:
Coldwell Banker Prime Prop, Inc
Listed By:
Cheryl Dauer · License NY 40DA1117334
(315) 752-0320
Source:
Exprealty
Added: Jun 25, 2024
Changed: Aug 8
Last Checked: Aug 25 at 9:53AM
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 Coldwell Banker Prime Prop, Inc
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Investment Insights
Based on property information with market context.
This established grocery store serves Otter Lake and all traffic going north to Old Forge and beyond, providing groceries and gas. It also serves traffic south to Alder Creek and is a convenient stop for snowmobiles. Located 15 miles north of Forestport and 10 miles south of Old Forge, this property offers an opportunity to be a part of a resort community with both summer and winter activities. The 3,200 sq. ft. building includes two 6,000-gallon canopy-covered gas tanks, an 8' x 24' walk-in cooler, an office, and a storeroom. Additionally, there is a 30 x 40 finished garage and groomed snowmobile trails. The property features a drilled well and propane heat, with over 350 feet of road frontage. The house on the premises includes one bedroom, one bath, a living room, and a dining room, but no basement. The house shares a well and septic system with the store. The property is suitable for retail, gas station, and automotive-related businesses.
Key Highlights
- Established grocery store with gas service in a resort community, servicing traffic to Old Forge and Alder Creek.
- Strategic location: 15 miles north of Forestport, 10 miles south of Old Forge, convenient for snowmobiles.
- 3,200 sq. ft. building with two 6,000‑gallon canopy‑covered gas tanks.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,858
Cap Rate
6.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$737,160
$737.2K
Cap Rate 7%
$526,543
$526.5K
Cap Rate 9%
$409,533
$409.5K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$51.8K $16.20/SF
− Vacancy
−$2.7K −$0.84/SF
EGI
$49.1K $15.36/SF
− OpEx
−$12.3K −$3.84/SF
NOI
$36.9K $11.52/SF
Area
Oneida County, NY
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$737,160
Cap Rate 7%
$526,543
Cap Rate 9%
$409,533
Alternative Uses
Best Use
Specialty Retail
$526.5K
$460.7K – $614.3K
NOI $36,858 @ 7.0% cap · market cap 6.70%
Second Best
Retail
$459.8K
$402.4K – $536.5K
NOI $32,189 @ 7.0% cap · market cap 5.85%
Theoretical Best
Office A
$843.3K
$737.9K – $983.8K
NOI $59,028 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13338, NY
1,187
Population
1,495
Households
0.8
Avg Household Size
54
Median Age
26%
College-Educated
90%
High-School Grad
229.1 sq mi
ZIP Area
5
Density / Sq Mi
$58,393
Median Household Income
$44,013
Median Earnings
$611
Median Rent
$156,900
Median Home Value
Check the figures for this property
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Grocery and gas station serving Otter Lake and Old Forge.
Where is this grocery and convenience store located?
The property is located at 13854 State Route 28 Forestport, NY.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Established grocery store with gas service in a resort community, servicing traffic to Old Forge and Alder Creek.; Strategic location: 15 miles north of Forestport, 10 miles south of Old Forge, convenient for snowmobiles.; 3,200 sq. ft. building with two 6,000‑gallon canopy‑covered gas tanks.
