Commercial Land with
For Sale
$139,900
22 Macadam Road, Chazy, NY 12921
Commercial Sale, Chazy, NY
Property Size864 SF
Lot Size85.80 Acres
Price / SF$161.92
Days on Market101
Property Features for 22 Macadam Road
General Information
Property type
Commercial Sale
Property subtype
Office
Interior features
Laminate Counters
Appliances
Electric Water Heater, Gas Range, Microwave, Refrigerator
View
Bridge, Water, Forest
Elementary school district
Chazy
Middle school district
Chazy
High school district
Chazy
Subdivision
Chazy, West Chazy, Altona
Standard status
Active
APN
93.-1-3.21
Size
864 SF
Lot size
85.80 Acres
Taxes and HOA fees
Tax Annual Amount
2120
Utilities
Utilities
Propane
Sewer type
Septic Tank
Heating system
Baseboard, Electric (Heating), Propane (Heating)
Water source
Well
Building Details
Year built
1980
Flooring type
Vinyl, Tile
Building materials
Vinyl Siding
Roof type
Metal
Listing Agency:
Castine Properties
(518) 324-7653
Listed By:
Andrew Castine
(518) 578-4023
Added: Jun 8
Changed: Sep 13
Last Checked: Sep 16 at 7:06PM
MLS# 207514
Copyright © 2026 Adirondack Champlain Valley 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 85.8-acre commercial land property includes an 864-square-foot improvement constructed in 1980. The structure has vinyl siding, a metal roof, tile and vinyl flooring, laminate counters, an electric water heater, gas range, microwave, refrigerator, electric and baseboard heating, propane service, a well, and a septic tank.
The property sits at the end of a dead-end road, with state land located across the road. Wetlands on the property support wildlife. Current zoning is Commercial. The property is located in Chazy, Clinton County, New York.
The property sits at the end of a dead-end road, with state land located across the road. Wetlands on the property support wildlife. Current zoning is Commercial. The property is located in Chazy, Clinton County, New York.
Key Highlights
- 85.8 acres of commercial land
- 864‑square‑foot improvement constructed in 1980
- Current Commercial zoning
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
$12,131
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
8.67%
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%
$242,620
$242.6K
Cap Rate 7%
$173,300
$173.3K
Cap Rate 9%
$134,789
$134.8K
Market Conditions
NOI Build-Up for 864 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
$20.7K $24.00/SF
− Vacancy
−$4.6K −$5.28/SF
EGI
$16.2K $18.72/SF
− OpEx
−$4.0K −$4.68/SF
NOI
$12.1K $14.04/SF
Area
Clinton County, NY
Vacancy
22.00%
Lease Rate
$24.00 /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%
$242,620
Cap Rate 7%
$173,300
Cap Rate 9%
$134,789
Alternative Uses
Best Use
Office B
$173.3K
$151.6K – $202.2K
NOI $12,131 @ 7.0% cap · market cap 8.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$238.2K
$208.4K – $277.9K
NOI $16,672 @ 7.0% cap · market cap 11.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Explore this area
Business Placement
Demographics for 12921, NY
2,270
Population
1,313
Households
1.7
Avg Household Size
44
Median Age
31%
College-Educated
95%
High-School Grad
31.7 sq mi
ZIP Area
72
Density / Sq Mi
$100,500
Median Household Income
$59,405
Median Earnings
$968
Median Rent
$195,300
Median Home Value
Check the figures for this property
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Commercial land - Commercial zoning, wetlands, and an existing improvement are documented on the property.
Where is this commercial land located?
The property is located at 22 Macadam Road Chazy, NY.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: 85.8 acres of commercial land; 864‑square‑foot improvement constructed in 1980; Current Commercial zoning
