Mixed-Use Property with Garage
New
For Sale
$419,900
46340 County Route 1, Alexandria Bay, NY 13607
Two-level building pairs an equipment-oriented commercial area with an upstairs one-bedroom residence.
Property Size3,600 SF
Price / SF$116.64
Days on Market4
Property Features for 46340 County Route 1
General Information
Standard status
Active
Size
3,600 SF
Additional Details
Drive-In Doors
3
Taxes and HOA fees
Annual Taxes
$2,386
Building Details
Year Built
2022
Buildings
1
Stories
2
Listing Agency:
12 North Realty
(315) 244-5225
Listed By:
Desiree Roberts
(315) 244-5225
Source:
Exprealty
Added: Aug 28
Changed: Aug 31
Last Checked: Aug 31 at 9:41AM
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 12 North Realty
Investment Insights
Based on property information with market context.
Built in 2022, this mixed-use property combines a commercial garage and shop on the first floor with a one-bedroom, one-bath residence above. The lower level includes a 16-foot-wide center overhead door and two side doors measuring 10 feet wide by 16 feet tall, accommodating large equipment, boats, trailers, trucks, and machinery. Its insulated poured-concrete foundation includes three floor drains, and the property is served by commercial-grade well and septic systems.
The upstairs living area has an open-concept layout and can function as an owner’s residence, employee or guest quarters, or a rental. The property is currently used by a construction business and is located approximately three miles from several marinas and boat launches. Seasonal views of Boldt Castle are available from the main windows during fall through early spring. The sale is subject to subdivision.
The upstairs living area has an open-concept layout and can function as an owner’s residence, employee or guest quarters, or a rental. The property is currently used by a construction business and is located approximately three miles from several marinas and boat launches. Seasonal views of Boldt Castle are available from the main windows during fall through early spring. The sale is subject to subdivision.
Key Highlights
- 3,600‑square‑foot mixed‑use building constructed in 2022
- Commercial garage and shop on the first floor with one‑bedroom residence above
- 16‑foot‑wide center overhead door plus two 10‑foot‑wide by 16‑foot‑tall side doors
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
$22,265
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
5.30%
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%
$445,300
$445.3K
Cap Rate 7%
$318,071
$318.1K
Cap Rate 9%
$247,389
$247.4K
Market Conditions
NOI Build-Up for 3,600 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
$34.1K $9.48/SF
− Vacancy
−$2.3K −$0.64/SF
EGI
$31.8K $8.84/SF
− OpEx
−$9.5K −$2.65/SF
NOI
$22.3K $6.18/SF
Area
Jefferson 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%
$445,300
Cap Rate 7%
$318,071
Cap Rate 9%
$247,389
Alternative Uses
Best Use
Mixed Use
$721.1K
$630.9K – $841.3K
NOI $50,475 @ 7.0% cap · market cap 12.02%
Second Best
Office B
$716.5K
$626.9K – $835.9K
NOI $50,155 @ 7.0% cap · market cap 11.94%
Theoretical Best
Office A
$992.4K
$868.3K – $1.16M
NOI $69,466 @ 7.0% cap · market cap 16.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Drive-in doors
Location Intelligence
Trade Area within ½ mile
43
Businesses Nearby
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-level building pairs an equipment-oriented commercial area with an upstairs one-bedroom residence.
Where is this mixed-use property located?
The property is located at 46340 County Route 1 Alexandria Bay, NY.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: 3,600‑square‑foot mixed‑use building constructed in 2022; Commercial garage and shop on the first floor with one‑bedroom residence above; 16‑foot‑wide center overhead door plus two 10‑foot‑wide by 16‑foot‑tall side doors
