Commercial Kitchen with Outdoor
For Sale
Under Contract
$65,000
4179 State Route 3, Fulton, NY 13069
CommercialSale, Fulton, NY
Property Size625 SF
Lot Size0.73 Acres
Price / SF$104
Days on Market94
Property Features for 4179 State Route 3
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
01
Zoning description
Commercial
Parking
10
Parking features
Driveway
Lot features
Rectangular, Rectangular Lot, Drainage
Elementary school district
Mexico Academy and Central
Middle school district
Mexico Academy and Central
High school district
Mexico Academy and Central
Subdivision
Palermo-354400
Standard status
Active Under Contract
APN
354400-205-000-0002-018-040-0000
Size
625 SF
Lot size
0.73 Acres
Taxes and HOA fees
Tax Annual Amount
2082
Utilities
Heating system
Forced Air, Propane (Heating)
Building Details
Year built
2000
Floors in Building
1
Flooring type
Concrete
Building materials
WoodSiding
Roof type
Metal
Listing Agency:
Keller Williams Syracuse · Keller Williams Realty
(315) 701-6900
Listed By:
Nicole Jay · License #10401369092
(315) 402-5533
Added: Jun 17
Changed: Sep 17
Last Checked: Sep 18 at 7:06PM
MLS# S1691512
Copyright © 2026 New York State Alliance of MLSs, LLC. 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 625-square-foot commercial kitchen property is currently used as a catering base and includes equipment suited to food preparation and service. Improvements include cookers, a walk-in cooler, prep tables, pots and pans, and outdoor seating. The building has wood siding, concrete flooring, a metal roof, forced-air heating, and propane heat, with construction completed in 2000.
Positioned at 4179 State Route 3 in Fulton, the property offers 185 feet of road frontage and driveway parking. Zoning is designated 01. The existing setup provides a defined commercial kitchen layout with supporting equipment and exterior seating areas.
Positioned at 4179 State Route 3 in Fulton, the property offers 185 feet of road frontage and driveway parking. Zoning is designated 01. The existing setup provides a defined commercial kitchen layout with supporting equipment and exterior seating areas.
Key Highlights
- 625‑square‑foot commercial kitchen property
- Currently operating as a catering base
- Includes cookers, walk‑in cooler, prep tables, pots and pans, and outdoor seating
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
$3,865
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
5.95%
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%
$77,300
$77.3K
Cap Rate 7%
$55,214
$55.2K
Cap Rate 9%
$42,944
$42.9K
Market Conditions
NOI Build-Up for 625 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
$5.9K $9.48/SF
− Vacancy
−$403 −$0.64/SF
EGI
$5.5K $8.84/SF
− OpEx
−$1.7K −$2.65/SF
NOI
$3.9K $6.18/SF
Area
Oswego County, NY
Vacancy
6.80%
Lease Rate
$9.48 /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%
$77,300
Cap Rate 7%
$55,214
Cap Rate 9%
$42,944
Alternative Uses
Best Use
Specialty Retail
$115.5K
$101.0K – $134.7K
NOI $8,083 @ 7.0% cap · market cap 12.44%
Second Best
Industrial
$55.2K
$48.3K – $64.4K
NOI $3,865 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$124.7K
$109.1K – $145.4K
NOI $8,726 @ 7.0% cap · market cap 13.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
32
Businesses Nearby
8k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
5,375 visits/mo
0.4 miles
Citgo
Shops & Services
2,344 visits/mo
0.4 miles
Demographics for 13069, NY
24,071
Population
10,593
Households
2.3
Avg Household Size
40
Median Age
19%
College-Educated
89%
High-School Grad
109.9 sq mi
ZIP Area
219
Density / Sq Mi
$63,156
Median Household Income
$44,073
Median Earnings
$878
Median Rent
$112,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Commercial kitchen - Configured for catering operations with included food-preparation equipment and outdoor seating.
Where is this commercial kitchen located?
The property is located at 4179 State Route 3 Fulton, NY.
What is the asking price?
The asking price for this property is $65,000.
What are key features of this property?
This property features: 625‑square‑foot commercial kitchen property; Currently operating as a catering base; Includes cookers, walk‑in cooler, prep tables, pots and pans, and outdoor seating
