Grocery and Convenience Store
For Sale
$449,000
Pending
37 Gouverneur Street, Canton, NY 13617
COMMERCIAL - Canton, NY
Property Size3,214 SF
Lot Size0.53 Acres
Days on Market1396
Property Features for 37 Gouverneur Street
General Information
Property type
Commercial Sale
Property subtype
Other
Exterior features
Handicapped Entrance
Accessibility
Accessible Approach with Ramp
Lot features
Adj to Riv/ Str/ Crk, Level lot
Elementary school district
Canton Central School District
Middle school district
Canton Central School District
High school district
Canton Central School District
Directions
From Canton heading on main street, turn left onto Gouverneur Street. Property is located on the left.
Subdivision
ST LAWRENCE
Standard status
Pending
APN
88.042-7-17.1
Size
3,214 SF
Lot size
0.53 Acres
Taxes and HOA fees
Tax Annual Amount
7240
Utilities
Utilities
Cable Available
Water source
Public
Building Details
Year built
1968
Building materials
Vinyl siding
Roof type
Metal
Architectural style
Other
Listing Agency:
Palmer Realty
(315) 742-8100
Listed By:
Ariane Palmer · License #10491211743
(315) 262-6458
Added: Nov 2, 2022
Changed: Aug 4
Last Checked: Aug 28 at 5:06AM
MLS# 47689
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 commercial property includes two buildings totaling 3,214 square feet on 0.53 acres. The existing business package includes a liquor and wine store, a beer and convenience store, and a bottle redemption operation. The property has served the local market for 25 years and includes retail space, grocery items, cold beer, and related store operations.
Built in 1968, the buildings feature vinyl siding and metal roofing. The site provides parking, public water, cable availability, and an accessible approach with ramp access. A handicapped entrance is also in place. The property is located at 37 Gouverneur Street in Canton, New York, within walking distance of residences, businesses, nonprofit organizations, and educational institutions.
Built in 1968, the buildings feature vinyl siding and metal roofing. The site provides parking, public water, cable availability, and an accessible approach with ramp access. A handicapped entrance is also in place. The property is located at 37 Gouverneur Street in Canton, New York, within walking distance of residences, businesses, nonprofit organizations, and educational institutions.
Key Highlights
- 3,214 SF across two commercial buildings
- 0.53‑acre commercial property at 37 Gouverneur Street
- Includes liquor and wine, beer and convenience, and bottle redemption businesses
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 support multiple retail and service operations.
Where is this grocery and convenience store located?
The property is located at 37 Gouverneur Street 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: 3,214 SF across two commercial buildings; 0.53‑acre commercial property at 37 Gouverneur Street; Includes liquor and wine, beer and convenience, and bottle redemption businesses
