Two Commercial Units on Busy
For Sale
$169,900
153 N 2nd Street, Fulton, NY 13069
Two commercial units with parking on a busy road.
Property Size1,806 SF
Lot Size0.25 Acres
Price / SF$169.90
Days on Market145
Property Features for 153 N 2nd Street
General Information
Standard status
Active
Size
1,806 SF
Total Parking Spaces
20
Lot size
0.25 Acres
Property subtype
Commercial
Zoning
c2, Commercial
Taxes and HOA fees
Annual Taxes
$8,183
Building Details
Building Size
1,806 SF
Year Built
1966
Buildings
1
Stories
1
Units
2
Listing Agency:
Integrated Real Estate Ser LLC
(315) 254-3557
Listed By:
Alan Fritz Lathrop · License #30LA0731266
(315) 254-3557
Source:
Homeprocny
Added: Apr 1
Changed: Aug 23
Last Checked: Aug 23 at 5:15AM
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 Integrated Real Estate Ser LLC
Investment Insights
Based on property information with market context.
This property features two commercial units of approximately equal size. The unit on the right has an open space of roughly 25 x 20, new floors, and fresh paint. It includes separate front and back entrances. The unit on the left is about the same size and has central air. Each unit has separate gas and electric. Business signage stays with the property, but personal framed signs will be removed. Customer parking is available in front for about 20 cars, with additional parking on the side and rear. The property is located on a very busy road with an average of 12,000 to 15,000 cars per day. Additionally, the seller has a buildable lot for car storage located nearby at 513 Fremont St, measuring approximately 67 x 165, available for negotiations. The location has a walk score of 66, indicating it is somewhat walkable, and a bike score of 40, indicating it is somewhat bikeable. The owner will consider holding paper with the right terms.
Key Highlights
- Two commercial units providing twice the income potential.
- High‑traffic location with 12‑15,000 cars per day.
- Ample customer parking available in front, side, and rear.
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
$9,657
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
5.68%
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%
$193,140
$193.1K
Cap Rate 7%
$137,957
$138.0K
Cap Rate 9%
$107,300
$107.3K
Market Conditions
NOI Build-Up for 1,000 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
$14.4K $14.40/SF
− Vacancy
−$605 −$0.60/SF
EGI
$13.8K $13.80/SF
− OpEx
−$4.1K −$4.14/SF
NOI
$9.7K $9.66/SF
Area
Oswego County, NY
Vacancy
4.20%
Lease Rate
$14.40 /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%
$193,140
Cap Rate 7%
$137,957
Cap Rate 9%
$107,300
Alternative Uses
Best Use
Retail
$138.0K
$120.7K – $161.0K
NOI $9,657 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$199.5K
$174.5K – $232.7K
NOI $13,962 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
403
Businesses Nearby
21k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 45%
Dunkin' Donuts
Dining
11,734 visits/mo
0.5 miles
Dollar General
Shops & Services
7,616 visits/mo
0.4 miles
FedEx Office Print & Ship Center
Shops & Services
2,125 visits/mo
0.5 miles
Demographics for 13069, NY
24,071
Population
10,593
Households
2.3
Avg Household Size
40
Median Age
19%
College-Educated
89%
High-School Grad
109.9 sq mi
ZIP Area
219
Density / Sq Mi
$63,156
Median Household Income
$44,073
Median Earnings
$878
Median Rent
$112,600
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.
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Frequently Asked Questions
What type of property is this?
Storefront property - Two commercial units with parking on a busy road.
Where is this storefront property located?
The property is located at 153 N 2nd Street Fulton, NY.
What is the asking price?
The asking price for this property is $169,900.
What are key features of this property?
This property features: Two commercial units providing twice the income potential.; High‑traffic location with 12‑15,000 cars per day.; Ample customer parking available in front, side, and rear.
