Restaurant with Convenience
For Sale
$429,000
14169 14173 State Highway 37, Massena, NY 13662
COMMERCIAL, Commercial, Massena, NY
Property Size1,800 SF
Price / SF$238.33
Days on Market54
Property Features for 14169 14173 State Highway 37
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
1
Rooms
Bathroom 1
Interior features
Open floor plan
Exterior features
Outdoor lights, Storage/out-building(s)
Elementary school district
Massena Central School District
Middle school district
Massena Central School District
High school district
Massena Central School District
Directions
Located in Louisville on State Highway 37, across from the turn onto County Route 39.
Subdivision
ST LAWRENCE
Standard status
Active
APN
15.001-2-5
Size
1,800 SF
Taxes and HOA fees
Tax Annual Amount
3244
Utilities
Water source
Public
Building Details
Year built
1950
Floors in Building
1
Building materials
Concrete block
Roof type
Metal
Architectural style
Other
Additional Structures
Storage
Listing Agency:
Dufrane Real Estate, LLC
(315) 769-2446
Listed By:
Christine Amo · License #10491205301
(315) 250-7969
Added: Aug 5
Changed: Sep 4
Last Checked: Sep 27 at 12:06PM
MLS# 53178
Copyright © 2026 St. Lawrence Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,800-square-foot restaurant and convenience store includes a bait-and-tackle shop, open dining area, commercial kitchen, office, storage areas, and an accessible bathroom. Eight booths provide 32+ seats. Kitchen equipment includes convection ovens, a 3-foot grill, 4-burner gas stove, hood Ansul system, Alto-Shaam oven, fryers, steam table, coolers, freezers, sinks, slicer, meat grinder, and a recently purchased dough mixer. The sale includes restaurant, bait-shop, and kitchen inventory, along with pots, pans, dishes, shelving, and the camera system.
Additional improvements include an 18' x 26' smokehouse with multiple smokers, a rotisserie grill, and a 350 lb pig cooker, plus a 10'x20 storage building for supplies. The building was constructed in 1950 and has a metal roof that is 2 years old. Public water serves the property, and the septic system has a new pump station and leach field. Recipes and customer lists may also be provided to the next owner.
Additional improvements include an 18' x 26' smokehouse with multiple smokers, a rotisserie grill, and a 350 lb pig cooker, plus a 10'x20 storage building for supplies. The building was constructed in 1950 and has a metal roof that is 2 years old. Public water serves the property, and the septic system has a new pump station and leach field. Recipes and customer lists may also be provided to the next owner.
Key Highlights
- 1,800‑square‑foot restaurant and convenience store with bait‑and‑tackle shop
- Eight booths provide 32+ seats for customer dining
- 18' x 26' smokehouse with Yoder Pellet smoker, Pit Boss smoker, rotisserie grill, and 350 lb pig cooker
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
$27,935
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
6.51%
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%
$558,700
$558.7K
Cap Rate 7%
$399,071
$399.1K
Cap Rate 9%
$310,389
$310.4K
Market Conditions
NOI Build-Up for 1,800 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
$38.9K $21.60/SF
− Vacancy
−$1.6K −$0.91/SF
EGI
$37.2K $20.69/SF
− OpEx
−$9.3K −$5.17/SF
NOI
$27.9K $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%
$558,700
Cap Rate 7%
$399,071
Cap Rate 9%
$310,389
Alternative Uses
Best Use
Specialty Retail
$399.1K
$349.2K – $465.6K
NOI $27,935 @ 7.0% cap · market cap 6.51%
Second Best
Retail
$326.9K
$286.1K – $381.4K
NOI $22,886 @ 7.0% cap · market cap 5.33%
Theoretical Best
Office A
$446.6K
$390.8K – $521.0K
NOI $31,260 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Commercial hood
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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?
Conventional restaurant - Established food-service property with a bait-and-tackle shop, commercial kitchen, smokehouse, and included operating inventory.
Where is this conventional restaurant located?
The property is located at 14169 14173 State Highway 37 Massena, NY.
What is the asking price?
The asking price for this property is $429,000.
What are key features of this property?
This property features: 1,800‑square‑foot restaurant and convenience store with bait‑and‑tackle shop; Eight booths provide 32+ seats for customer dining; 18' x 26' smokehouse with Yoder Pellet smoker, Pit Boss smoker, rotisserie grill, and 350 lb pig cooker
