Flex Space with
For Sale
$899,900
42685 NYS Route 12 LOT 5, Alexandria Bay, NY 13607
COMMERCIAL - Alexandria Bay, NY
Property Size6,600 SF
Lot Size3.14 Acres
Price / SF$136.35
Days on Market267
Property Features for 42685 NYS Route 12 LOT 5
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B
Zoning description
Business
Parking
25
Exterior features
PropaneTankLeased
Lot features
Irregular Lot
View
Water
Elementary school district
Thousand Islands
Middle school district
Thousand Islands
High school district
Thousand Islands
Directions
Watertown, take I-81 North to Exit 50s, turn towards Clayton. Property is less than a mile on the right. Watch for the following sign-On The River Construction.
Subdivision
Orleans-224600
Standard status
Active
APN
224600-013-010-0001-028-832
Size
6,600 SF
Lot size
3.14 Acres
Taxes and HOA fees
Tax Annual Amount
8300
Utilities
Heating system
Forced Air, Propane (Heating)
Cooling system
Central Air
Water front features
River Access, Stream
Building Details
Year built
2023
Floors in Building
1
Building materials
Frame, MetalSiding, StructuralInsulatedPanels
Roof type
Metal
Listing Agency:
Lake Ontario Realty, LLC
(315) 649-3434
Listed By:
Kiah Sugrue · License #10401293311
(315) 649-3434
Added: Nov 28, 2025
Changed: Aug 19
Last Checked: Aug 22 at 2:06PM
MLS# S1651731
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 6,600-square-foot flex property on 3.14 acres includes a finished 40-by-40-foot showroom with two private offices, a conference room, and an ADA-compliant bathroom. The attached 100-by-50-foot building provides insulated storage and work space, 16-foot ceilings, full electric service, a mechanical room, a storage room, and a second bathroom. Built in 2023 as a Lester Building, the improvements feature frame construction, metal siding, structural insulated panels, a metal roof, forced-air propane heat, and central air conditioning. The property is zoned B.
Located at 42685 NYS Route 12 in Alexandria Bay, the site has direct access to the route and includes river access and a stream. The configuration supports a combination of showroom, office, workshop, warehousing, fabrication, and equipment-storage functions, subject to applicable approvals.
Located at 42685 NYS Route 12 in Alexandria Bay, the site has direct access to the route and includes river access and a stream. The configuration supports a combination of showroom, office, workshop, warehousing, fabrication, and equipment-storage functions, subject to applicable approvals.
Key Highlights
- 6,600 SF of flex space on 3.14 acres
- 40‑by‑40‑foot finished showroom with two offices, conference room, and ADA‑compliant bathroom
- Attached 100‑by‑50‑foot insulated storage/work building
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
$49,566
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
5.51%
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%
$991,320
$991.3K
Cap Rate 7%
$708,086
$708.1K
Cap Rate 9%
$550,733
$550.7K
Market Conditions
NOI Build-Up for 6,600 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
$62.6K $9.48/SF
− Vacancy
−$4.3K −$0.64/SF
EGI
$58.3K $8.84/SF
− OpEx
−$8.7K −$1.33/SF
NOI
$49.6K $7.51/SF
Area
Jefferson County, NY
Vacancy
6.80%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$991,320
Cap Rate 7%
$708,086
Cap Rate 9%
$550,733
Alternative Uses
Best Use
Office B
$1.31M
$1.15M – $1.53M
NOI $91,951 @ 7.0% cap · market cap 10.22%
Second Best
Warehouse
$708.1K
$619.6K – $826.1K
NOI $49,566 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,354 @ 7.0% cap · market cap 14.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16 ft
Clear height
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
32
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13607, NY
1,610
Population
2,079
Households
0.8
Avg Household Size
52
Median Age
34%
College-Educated
96%
High-School Grad
16.3 sq mi
ZIP Area
99
Density / Sq Mi
$58,167
Median Household Income
$45,625
Median Earnings
$649
Median Rent
$168,100
Median Home Value
Market
Vacancy Rate% for Office 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?
Flex space - Multi-use commercial layout combines customer-facing offices with insulated workspace and storage.
Where is this flex space located?
The property is located at 42685 NYS Route 12 LOT 5 Alexandria Bay, NY.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 6,600 SF of flex space on 3.14 acres; 40‑by‑40‑foot finished showroom with two offices, conference room, and ADA‑compliant bathroom; Attached 100‑by‑50‑foot insulated storage/work building
