Building Details

Year Renovated 2017

Stories 2

Units 1

Listing Agency: Trego Realty Group LLC

Listed By: Liz Trego · License #10491210659

Source: Crexi

Added: May 5 Changed: Sep 3 Last Checked: Sep 4 at 10:00PM

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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 Trego Realty Group LLC

Investment Insights

Based on property information with market context.

This versatile live-work property is set on 2.8 acres and includes a substantial heated 28' x 64' garage with three oversized bay doors. The main level features a dedicated office area, and the upper level is prepped for an apartment with plumbing and electrical already in place. An attached 12' x 24' one-car garage adds additional enclosed storage or workspace.

Additional outbuildings include a pole barn and two sugar shacks, supporting an established maple sugaring setup. The land includes over 100 mature maple trees currently tapped, along with fruit trees such as apple, cherry, plum, and pear.

A special use permit is noted to allow commercial operations, while the property is described as zoned residential.

Key Highlights

• 2.8‑acre rural property with residential zoning and a special use permit for commercial operations
• 28' x 64' heated garage with three oversized bay doors, plus an office area inside
• Upper level is prepped for an apartment with plumbing and electrical already in place

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

$23,436

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

6.70%

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%

$468,720 $468.7K

Cap Rate 7%

$334,800 $334.8K

Cap Rate 9%

$260,400 $260.4K

Market Conditions

NOI Build-Up for 3,472 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

$41.7K $12.00/SF

− Vacancy

−$4.2K −$1.20/SF

EGI

$37.5K $10.80/SF

− OpEx

−$14.1K −$4.05/SF

NOI

$23.4K $6.75/SF

Area

St. Lawrence County, NY

Vacancy

10.00%

Lease Rate

$12.00 /SF/Yr

Expense Ratio

37.50%

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%

$468,720

Cap Rate 7%

$334,800

Cap Rate 9%

$260,400

Alternative Uses

Best Use

Office B

$649.6K

$568.4K – $757.8K (±1% cap)

NOI $45,470 @ 7.0% cap · market cap 12.99%

Second Best

Mixed Use

$334.8K

$293.0K – $390.6K (±1% cap)

NOI $23,436 @ 7.0% cap · market cap 6.70%

Theoretical Best

Office A

$861.4K

$753.7K – $1.00M (±1% cap)

NOI $60,296 @ 7.0% cap · market cap 17.23%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

J&J Appliance Service Home Appliance Store North Country Equipment ... (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Bakery Home Appliance Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

2

Businesses Nearby

Explore this area Business Placement

Demographics for 13697, NY

2,206

Population

877

Households

2.5

Avg Household Size

41

Median Age

19%

College-Educated

90%

High-School Grad

64.9 sq mi

ZIP Area

34

Density / Sq Mi

$73,324

Median Household Income

$48,500

Median Earnings

$1,103

Median Rent

$144,900

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this live-work space located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Live-work space - Versatile live-work commercial property with heated garage, office space, and upper level plumbing and electrical ready for an apartment.

Where is this live-work space located?

The property is located at 51 CRANE RD Winthrop, NY.

What is the asking price?

The asking price for this property is $350,000.

What are key features of this property?

This property features: 2.8‑acre rural property with residential zoning and a special use permit for commercial operations; 28' x 64' heated garage with three oversized bay doors, plus an office area inside; Upper level is prepped for an apartment with plumbing and electrical already in place