Two Canton Commercial Buildings For
For Sale
Contact for pricing
Pending
37 Gouverneur St, Canton, NY 13617
Two commercial buildings with business opportunities in Canton, New York.
Property Size3,214 SF
Days on Market1404
Property Features for 37 Gouverneur St
General Information
Standard status
Pending
Size
3,214 SF
Total Parking Spaces
15
Property subtype
Retail
Investment Type
Owner/User
Building Details
Year Built
1968
Buildings
2
Tenancy
Multi
Listing Agency:
NY Real Estate
Listed By:
Ariane Palmer · License #NY 10491211743
(315) 262-6458
Source:
Crexi
Added: Nov 4, 2022
Changed: Aug 8
Last Checked: Jul 26 at 12:00PM
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 NY Real Estate
Investment Insights
Based on property information with market context.
Two commercial buildings in the Village of Canton offer high visibility and potential for business ownership. One building houses 'Bessette's Liquor and Wine', a centrally located business with 22 years of operation and a customer base near residences, businesses, non-profits, and educational institutions. The commercial business package includes a beer and convenient store with bottle redemption, offering cold beer and grocery items. The property is suitable for one or two owner-operators and features ample parking. The property size is 3214 square feet.
Key Highlights
- Two commercial buildings offer high visibility and conversion potential
- Includes 'Bessette's Liquor and Wine' store with 22 years of successful operation and established customer base
- Comes with a beer/convenience store and bottle redemption business
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
$40,865
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
9.10%
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%
$817,300
$817.3K
Cap Rate 7%
$583,786
$583.8K
Cap Rate 9%
$454,056
$454.1K
Market Conditions
NOI Build-Up for 3,214 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
$60.9K $18.96/SF
− Vacancy
−$2.6K −$0.80/SF
EGI
$58.4K $18.16/SF
− OpEx
−$17.5K −$5.45/SF
NOI
$40.9K $12.71/SF
Area
St. Lawrence County, NY
Vacancy
4.20%
Lease Rate
$18.96 /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%
$817,300
Cap Rate 7%
$583,786
Cap Rate 9%
$454,056
Alternative Uses
Best Use
Specialty Retail
$712.6K
$623.5K – $831.3K
NOI $49,880 @ 7.0% cap · market cap 11.11%
Second Best
Retail
$583.8K
$510.8K – $681.1K
NOI $40,865 @ 7.0% cap · market cap 9.10%
Theoretical Best
Office A
$797.4K
$697.7K – $930.3K
NOI $55,816 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
503
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13617, NY
12,083
Population
4,645
Households
2.6
Avg Household Size
29
Median Age
36%
College-Educated
93%
High-School Grad
132.5 sq mi
ZIP Area
91
Density / Sq Mi
$72,652
Median Household Income
$26,397
Median Earnings
$901
Median Rent
$148,900
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?
Grocery and convenience store - Two commercial buildings with business opportunities in Canton, New York.
Where is this grocery and convenience store located?
The property is located at 37 Gouverneur St Canton, NY.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Two commercial buildings offer high visibility and conversion potential; Includes 'Bessette's Liquor and Wine' store with 22 years of successful operation and established customer base; Comes with a beer/convenience store and bottle redemption business
