Charming Commercial Property on Corner
For Sale
$279,000
34 North Street, Madrid, NY 13660
COMMERCIAL - Other - Madrid, NY
Property Size3,900 SF
Price / SF$71.54
Days on Market336
Property Features for 34 North Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COM 1
Bedrooms
4
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bedroom 4, Bathroom 1, Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 2
Parking features
Driveway, Garage, Garage - Detached
Patio and Porch features
Porch
Exterior features
Enclosed porch, Outdoor lights
Lot features
A corner lot, Level lot, Oversized
Directions
From Massena take SH 310 into Madrid. At Caution light take a right and keep straight till you reach Church Street and North Street which is also CR 14.
Subdivision
ST LAWRENCE
Standard status
Active
APN
41.070-2-3.1
Size
3,900 SF
Taxes and HOA fees
Tax Annual Amount
6500
Utilities
Water source
Public
Building Details
Year built
1950
Floors in Building
2
Flooring type
Carpet, Vinyl
Building materials
Vinyl siding
Roof type
Metal
Architectural style
Other
Listing Agency:
Kassian Real Estate, LLC
(315) 769-0025
Listed By:
Lucille Kassian · License #40KA0346866
(315) 250-2383
Added: Sep 29, 2025
Changed: Aug 4
Last Checked: Aug 30 at 1:06AM
MLS# 51969
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.
Investment Insights
Based on property information with market context.
This meticulously maintained property, situated on a large corner lot, offers over 3,600 square feet of space suitable for various purposes. The property features a 4-car garage, a metal roof, and central air conditioning. Large windows provide ample natural light, highlighting the preserved character of the building. The property is located in a welcoming community and offers flexibility for residential or commercial use, subject to local approvals. It is equipped with public water and sewer services, as well as natural gas. The property presents opportunities for expansion or customization. Potential uses include a residential retreat, a bed and breakfast, or a commercial business.
Key Highlights
- 4‑car garage with both garage and detached garage, plus a driveway
- Over 3,600 sq ft home on a corner lot
- Metal roof and vinyl siding
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
$18,247
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
6.54%
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%
$364,940
$364.9K
Cap Rate 7%
$260,671
$260.7K
Cap Rate 9%
$202,744
$202.7K
Market Conditions
NOI Build-Up for 3,900 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
$42.6K $10.92/SF
− Vacancy
−$9.4K −$2.41/SF
EGI
$33.2K $8.51/SF
− OpEx
−$14.9K −$3.83/SF
NOI
$18.2K $4.68/SF
Area
St. Lawrence County, NY
Vacancy
22.10%
Lease Rate
$10.92 /SF/Yr
Expense Ratio
45.00%
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%
$364,940
Cap Rate 7%
$260,671
Cap Rate 9%
$202,744
Alternative Uses
Best Use
Apartment 5plus
$260.7K
$228.1K – $304.1K
NOI $18,247 @ 7.0% cap · market cap 6.54%
Second Best
Hotel Hospitality
$214.4K
$187.6K – $250.1K
NOI $15,005 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$967.6K
$846.6K – $1.13M
NOI $67,729 @ 7.0% cap · market cap 24.28%
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
51
Businesses Nearby
Explore this area
Business Placement
Demographics for 13660, NY
2,019
Population
757
Households
2.7
Avg Household Size
43
Median Age
22%
College-Educated
90%
High-School Grad
58.8 sq mi
ZIP Area
34
Density / Sq Mi
$71,964
Median Household Income
$41,088
Median Earnings
$827
Median Rent
$121,000
Median Home Value
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - Versatile commercial property with 4-car garage in welcoming community.
Where is this single family property located?
The property is located at 34 North Street Madrid, NY.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: 4‑car garage with both garage and detached garage, plus a driveway; Over 3,600 sq ft home on a corner lot; Metal roof and vinyl siding
