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at 303 N Lackawanna St Contact us

303 N Lackawanna St

Floor

1

Size

2,000 SF

Type

RETAIL

Lease Type

MODIFIED_GROSS

Availability

AVAILABLE, Now

Sublease

No

- This property is for lease and for sale. - Lease rates and terms are flexible.

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Listing Agency: Cushman & Wakefield | Pyramid Brokerage - Corning \ Elmira Show Phone

Listed By: Samantha Testani · License #10401349608 Show Phone

Source: Moodyscre

Added: Jul 7, 2025 Changed: Aug 8 Last Checked: Jul 22 at 3:23PM

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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 Cushman & Wakefield | Pyramid Brokerage - Corning \ Elmira

Investment Insights

Based on property information with market context.

This property offers retail space available for both lease and sale, with lease rates and terms described as flexible. The asset is sized at 2,000 square feet.

The property is located at 303 N Lackawanna St in Wayland, New York.

Interested parties should confirm unit configuration and any lease/sale details directly with the listing broker, as specific build-out or tenant-occupancy features are not provided in the available information.

Key Highlights

• Property available for lease and for sale
• Lease rates and terms are flexible

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

$19,313

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

2.97%

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%

$386,260 $386.3K

Cap Rate 7%

$275,900 $275.9K

Cap Rate 9%

$214,589 $214.6K

Market Conditions

NOI Build-Up for 2,000 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

$28.8K $14.40/SF

− Vacancy

−$1.2K −$0.60/SF

EGI

$27.6K $13.80/SF

− OpEx

−$8.3K −$4.14/SF

NOI

$19.3K $9.66/SF

Area

Steuben 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%

$386,260

Cap Rate 7%

$275,900

Cap Rate 9%

$214,589

Alternative Uses

Best Use

Retail

$275.9K

$241.4K – $321.9K (±1% cap)

NOI $19,313 @ 7.0% cap · market cap 2.97%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$487.6K

$426.6K – $568.8K (±1% cap)

NOI $34,130 @ 7.0% cap · market cap 5.25%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Dollar General Discount Store FedEx OnSite Postal Service My Stuff Self ... Storage Facility Western Union Bank

Suggested Use

Top Pick Dental Office Building Supply Auto Parts Store Law Firm Auto Repair Shop Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

141

Businesses Nearby

23k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

7-Eleven Shops & Services

8,765 visits/mo 0.3 miles

Mobil Shops & Services

5,923 visits/mo 0.3 miles

Dollar General Shops & Services

5,121 visits/mo 0.1 miles

Five Star Bank Shops & Services

2,996 visits/mo 0.4 miles

Demographics for 14572, NY

4,636

Population

2,288

Households

2

Avg Household Size

46

Median Age

18%

College-Educated

90%

High-School Grad

74.9 sq mi

ZIP Area

62

Density / Sq Mi

$68,125

Median Household Income

$42,169

Median Earnings

$840

Median Rent

$110,200

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this retail space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Retail space - Retail space available for lease or sale with flexible lease rates and terms.

Where is this retail space located?

The property is located at 303 N Lackawanna St Wayland, NY.

What is the asking price?

The asking price for this property is $650,000.

What are key features of this property?

This property features: Property available for lease and for sale; Lease rates and terms are flexible