Small Storefront
For Sale
Contact for pricing
290 Grand Ave, Johnson City, NY 13790
Compact commercial building with upgraded electrical service and water, sewer, electric, and gas connections.
Property Size400 SF
Lot Size0.04 Acres
Price / SF$112.50
Days on Market104
Property Features for 290 Grand Ave
General Information
Standard status
Active
Size
400 SF
Lot size
0.04 Acres
Property subtype
Retail
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1960
Construction
block
Listing Agency:
Elmira-Howard Hanna Real Estate Services Inc
Listed By:
Keith Arnold · License #NY 10401289330
Source:
Crexi
Added: May 19
Changed: Aug 30
Last Checked: Aug 30 at 1:33PM
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 Elmira-Howard Hanna Real Estate Services Inc
Investment Insights
Based on property information with market context.
This 400-square-foot block storefront was built in 1960 and is currently configured as a small hair salon. The building has updated electrical service, with water, sewer, electric, and gas in place. It is being offered in its existing condition and provides a compact commercial footprint for a small business operation.
Located at 290 Grand Ave in Johnson City, the property is identified for storefront use and has supported salon operations. The source information also identifies potential applications including retail, barber shop, office, or another small business use.
Located at 290 Grand Ave in Johnson City, the property is identified for storefront use and has supported salon operations. The source information also identifies potential applications including retail, barber shop, office, or another small business use.
Key Highlights
- 400‑square‑foot block building on .04 acres
- Updated electrical service
- Water, sewer, electric, and gas in place
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
$4,024
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
8.94%
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%
$80,480
$80.5K
Cap Rate 7%
$57,486
$57.5K
Cap Rate 9%
$44,711
$44.7K
Market Conditions
NOI Build-Up for 400 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
$6.0K $15.00/SF
− Vacancy
−$252 −$0.63/SF
EGI
$5.7K $14.37/SF
− OpEx
−$1.7K −$4.31/SF
NOI
$4.0K $10.06/SF
Area
Broome County, NY
Vacancy
4.20%
Lease Rate
$15.00 /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%
$80,480
Cap Rate 7%
$57,486
Cap Rate 9%
$44,711
Alternative Uses
Best Use
Retail
$57.5K
$50.3K – $67.1K
NOI $4,024 @ 7.0% cap · market cap 8.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$99.2K
$86.8K – $115.8K
NOI $6,947 @ 7.0% cap · market cap 15.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
999
Businesses Nearby
34k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 87%
Shops & Services 13%
McDonald's
Dining
25,534 visits/mo
0.4 miles
Dunkin' Donuts
Dining
3,763 visits/mo
0.3 miles
NBT Bank
Shops & Services
3,046 visits/mo
0.5 miles
Storage Rentals of America
Shops & Services
1,491 visits/mo
0.4 miles
Demographics for 13790, NY
18,478
Population
9,585
Households
1.9
Avg Household Size
43
Median Age
29%
College-Educated
89%
High-School Grad
27.2 sq mi
ZIP Area
679
Density / Sq Mi
$54,764
Median Household Income
$37,360
Median Earnings
$985
Median Rent
$117,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Compact commercial building with upgraded electrical service and water, sewer, electric, and gas connections.
Where is this storefront property located?
The property is located at 290 Grand Ave Johnson City, NY.
What is the asking price?
The asking price for this property is $45,000.
What are key features of this property?
This property features: 400‑square‑foot block building on .04 acres; Updated electrical service; Water, sewer, electric, and gas in place
