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    Massena Mixed-Use Commercial Building Title is generated by Realmo AI

    32 Andrews Street, Massena, NY 13662

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    For Sale
    $259,000

    MULTI-FAMILY - Massena, NY

    Type:Multi Family
    Property size:
    5,200 SF
    Price / SF:
    $49/SF
    Added:
    May 19, 2026
    Days on Market:
    2
    Last Refresh:
    May 20 at 10:06 am

    Property Features for 32 Andrews Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Multi Family
    Interior features
    Open Floor Plan
    Exterior features
    Outdoor Lights, Storage/Out-building(s)
    Standard status
    Active
    APN
    9.059-9-62
    Size
    5,200 SF

    Utilities

    Heating system
    Electric (Heating)

    Building Details

    Year built
    1950
    Floors in Building
    2
    Building materials
    Block, Brick, Concrete, Metal Siding, Vinyl Siding
    Architectural style
    Other

    We can help!

    Listing Contact
    Lucille Kassian

    Listing agent Lucille Kassian License #40KA0346866

    Listing office Kassian Real Estate, LLC 156 East Orvis Street, Massena, NY

    Listing date May 19, 2026

    MLS# 52757 Listing URL

    Copyright © 2026 St. Lawrence Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Prime location in the heart of Massena, benefiting from downtown revitalization.
    • Over 5200 sq ft commercial building with multiple income‑generating opportunities.
    • Large, fully furnished upstairs apartment currently operating as a successful Airbnb.
    • Remodeled upstairs office space with 4 offices, common kitchen, and bathroom.
    • Main level currently used as a gift shop with open floor plan, kitchen, and storage.
    • Ample parking available with two public parking areas.

    Overview

    This commercial building, situated in the heart of Massena, New York, offers over 5200 square feet of space. The main level features a wide-open, carpeted area with a half bath, kitchen, several storage rooms, and an electrical room, currently used as a gift shop. The upstairs includes a large, furnished apartment, recently renovated with a large kitchen including appliances, a full bathroom with a walk-in shower, and laundry facilities. Separately accessed upstairs, there is a completely remodeled space with 4 large offices, a common kitchen, and a common bathroom. The building is all-electric and connected to town water and sewer. The apartment is currently operating as an Airbnb with bookings extending into the winter months. The office spaces are suitable for monthly, weekly, or yearly rentals. Ample parking is available with two public parking areas. The property is in excellent condition and offers a prime location, making it a solid investment opportunity, especially with the ongoing downtown revitalization. The property is intended for mixed-use purposes, including retail, residential, and office spaces.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    The Shop Around the Corner Home Decor Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Massena
    County
    St. Lawrence
    State
    New York
    Longitude
    -74.8942302
    Latitude
    44.9320621

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    FAQs

    What type of property is this?
    Mixed-use property - Exceptional commercial building in the heart of Massena, NY.
    Where is this mixed-use property located?
    The property is located at 32 Andrews Street Massena, NY.
    What is the asking price?
    The asking price for this property is $259,000.
    What are key features of this property?
    This property features: Prime location in the heart of Massena, benefiting from downtown revitalization.; Over 5200 sq ft commercial building with multiple income‑generating opportunities.; Large, fully furnished upstairs apartment currently operating as a successful Airbnb.
    (315) 250-2383
    We can help!
    Listing Contact
    Lucille Kassian
    Real Estate License ID: 40KA0346866
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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