Mixed-Use Property with
For Sale
$695,000
47 N Main St, Camillus, NY 13031
Six apartments and two storefronts, an income-producing mixed-use property.
Property Size3,994 SF
Price / SF$174.01
Days on Market142
Property Features for 47 N Main St
General Information
Standard status
Active
Size
3,994 SF
Property subtype
Multi-Family
Building Details
Year Built
1945
Listing Agency:
Coldwell Banker Prime Prop,Inc
Listed By:
Terrance Bradley
(315) 214-2277
Source:
Soldincny
Added: Apr 24
Changed: Sep 8
Last Checked: Sep 12 at 12:26PM
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 Coldwell Banker Prime Prop,Inc
Investment Insights
Based on property information with market context.
This mixed-use property features six apartments and two storefronts. The residential component includes two 1-bedroom apartments and four 2-bedroom apartments. The property is described as an income producer and offers a view of 9 Mile Creek. The bike score is 9, indicating it is somewhat bikeable, and the walk score is 39, suggesting car dependence.
Key Highlights
- Six apartments and two storefronts offer diverse income streams.
- Mix of one and two‑bedroom apartments caters to a range of tenants.
- True income‑producing property.
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
$37,710
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
5.43%
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%
$754,200
$754.2K
Cap Rate 7%
$538,714
$538.7K
Cap Rate 9%
$419,000
$419.0K
Market Conditions
NOI Build-Up for 3,994 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
$73.3K $18.36/SF
− Vacancy
−$4.8K −$1.19/SF
EGI
$68.6K $17.17/SF
− OpEx
−$30.9K −$7.72/SF
NOI
$37.7K $9.44/SF
Area
Onondaga County, NY
Vacancy
6.50%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
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%
$754,200
Cap Rate 7%
$538,714
Cap Rate 9%
$419,000
Alternative Uses
Best Use
Apartment 5plus
$538.7K
$471.4K – $628.5K
NOI $37,710 @ 7.0% cap · market cap 5.43%
Second Best
Mixed Use
$531.2K
$464.8K – $619.7K
NOI $37,181 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$694.1K
$607.3K – $809.8K
NOI $48,587 @ 7.0% cap · market cap 6.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
172
Businesses Nearby
Explore this area
Business Placement
Demographics for 13031, NY
16,335
Population
7,414
Households
2.2
Avg Household Size
44
Median Age
45%
College-Educated
96%
High-School Grad
24.3 sq mi
ZIP Area
672
Density / Sq Mi
$92,687
Median Household Income
$56,024
Median Earnings
$1,281
Median Rent
$207,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Six apartments and two storefronts, an income-producing mixed-use property.
Where is this mixed-use property located?
The property is located at 47 N Main St Camillus, NY.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Six apartments and two storefronts offer diverse income streams.; Mix of one and two‑bedroom apartments caters to a range of tenants.; True income‑producing property.
