Storefront Property with Ample
For Sale
$1,100,000
1942 Military Turnpike Rd, Plattsburgh, NY 12901
Commercial Sale, Plattsburgh, NY
Property Size5,627 SF
Lot Size2.21 Acres
Price / SF$195.49
Days on Market15
Property Features for 1942 Military Turnpike Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Bathrooms
3
Full bathrooms
1
Half bathrooms
2
Rooms
Bathroom 3, Bathroom 2, Bathroom 1
Parking features
Driveway
Patio and Porch features
Deck
Fencing
Fenced
Standard status
Active
Size
5,627 SF
Lot size
2.21 Acres
Utilities
Sewer type
Septic Tank
Heating system
Baseboard, Oil
Building Details
Year built
1991
Floors in Building
1
Flooring type
Tile, Carpet, Linoleum, Laminate
Roof type
Asphalt
Listing Agency:
JOE MACRI REALTY
(315) 360-1920
Listed By:
William Macri
Added: Sep 11
Changed: Sep 23
Last Checked: Sep 25 at 3:06PM
MLS# 11975526
Copyright © 2026 My State MLS. 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 storefront property at 1942 Military Turnpike Rd in Plattsburgh includes 5,627 square feet of commercial space on a 2.21-acre parcel. Built in 1991, the building features tile, carpet, linoleum, and laminate flooring, along with baseboard heating fueled by oil. The property also includes three bathrooms, a deck, fencing, asphalt roofing, and a septic tank system.
Driveway parking serves the site, which provides substantial land area around the commercial building. The property is approximately one hour from Montreal and Burlington, Vermont, offering access to both regional markets. Its combination of building area, surrounding acreage, and parking supports a range of storefront-oriented commercial uses.
Driveway parking serves the site, which provides substantial land area around the commercial building. The property is approximately one hour from Montreal and Burlington, Vermont, offering access to both regional markets. Its combination of building area, surrounding acreage, and parking supports a range of storefront-oriented commercial uses.
Key Highlights
- 5,627 square feet of commercial space on 2.21 acres
- Built in 1991 with three bathrooms
- Driveway parking and fenced site
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
$69,057
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
6.28%
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%
$1,381,140
$1.4M
Cap Rate 7%
$986,529
$986.5K
Cap Rate 9%
$767,300
$767.3K
Market Conditions
NOI Build-Up for 5,627 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
$101.3K $18.00/SF
− Vacancy
−$2.6K −$0.47/SF
EGI
$98.7K $17.53/SF
− OpEx
−$29.6K −$5.26/SF
NOI
$69.1K $12.27/SF
Area
Clinton County, NY
Vacancy
2.60%
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%
$1,381,140
Cap Rate 7%
$986,529
Cap Rate 9%
$767,300
Alternative Uses
Best Use
Retail
$986.5K
$863.2K – $1.15M
NOI $69,057 @ 7.0% cap · market cap 6.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,579 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12901, NY
32,147
Population
15,426
Households
2.1
Avg Household Size
38
Median Age
33%
College-Educated
89%
High-School Grad
70.6 sq mi
ZIP Area
455
Density / Sq Mi
$59,413
Median Household Income
$35,385
Median Earnings
$957
Median Rent
$182,100
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?
Storefront property - Fenced commercial parcel with driveway parking, varied interior finishes, and access to Montreal and Burlington.
Where is this storefront property located?
The property is located at 1942 Military Turnpike Rd Plattsburgh, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 5,627 square feet of commercial space on 2.21 acres; Built in 1991 with three bathrooms; Driveway parking and fenced site
