Two-Unit Storefront
New
For Sale
$399,000
43748-752 State Route 12, Alexandria Bay, NY 13607
Separate storefronts include a showroom with vaulted tongue-and-groove ceilings.
Property Size2,724 SF
Price / SF$146.48
Days on Market2
Property Features for 43748-752 State Route 12
General Information
Standard status
Active
Size
2,724 SF
Total Parking Spaces
20
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Building Details
Year Built
1975
Listing Agency:
NNY Homes Inc
Listed By:
Stephen Gleason · License #10301221737
(315) 604-7264
Source:
Skinnercnyrealty
Added: Oct 4
Last Checked: Sep 12 at 8:47AM
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 NNY Homes Inc
Investment Insights
Based on property information with market context.
This two-unit commercial property contains two storefronts, including a showroom with vaulted tongue-and-groove ceilings. The parcel also provides parking for up to 20 vehicles and includes several acres that may be incorporated into a business plan.
The property is within a mile of the Interstate 81 interchange, near the U.S.-Canada border, and fronts State Route 12. Built in 1975, the building’s separate storefronts provide distinct spaces within one commercial property.
The property is within a mile of the Interstate 81 interchange, near the U.S.-Canada border, and fronts State Route 12. Built in 1975, the building’s separate storefronts provide distinct spaces within one commercial property.
Key Highlights
- Two separate storefronts in a two‑unit commercial property
- Showroom features vaulted tongue‑and‑groove ceilings
- Parking for up to 20 vehicles
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
$32,881
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
8.24%
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%
$657,620
$657.6K
Cap Rate 7%
$469,729
$469.7K
Cap Rate 9%
$365,344
$365.3K
Market Conditions
NOI Build-Up for 2,724 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
$49.0K $18.00/SF
− Vacancy
−$2.1K −$0.76/SF
EGI
$47.0K $17.24/SF
− OpEx
−$14.1K −$5.17/SF
NOI
$32.9K $12.07/SF
Area
Jefferson County, NY
Vacancy
4.20%
Lease Rate
$18.00 /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%
$657,620
Cap Rate 7%
$469,729
Cap Rate 9%
$365,344
Alternative Uses
Best Use
Retail
$469.7K
$411.0K – $548.0K
NOI $32,881 @ 7.0% cap · market cap 8.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$750.9K
$657.0K – $876.0K
NOI $52,562 @ 7.0% cap · market cap 13.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
43
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 Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Separate storefronts include a showroom with vaulted tongue-and-groove ceilings.
Where is this storefront property located?
The property is located at 43748-752 State Route 12 Alexandria Bay, NY.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Two separate storefronts in a two‑unit commercial property; Showroom features vaulted tongue‑and‑groove ceilings; Parking for up to 20 vehicles
