Building Details

Building Size 1,461 SF

Year Built 1900

Stories 1

Listing Agency: Coldwell Banker Prime Prop. Inc. k***@cbpp.com Show Phone

Listed By: Kimberlie Stoffle Show Phone

Source: Elliman

Added: Apr 3 Changed: Aug 28 Last Checked: Aug 31 at 5:47PM

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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 Coldwell Banker Prime Prop. Inc.

Investment Insights

Based on property information with market context.

This retail property is located on a busy section of Main Street, benefiting from significant foot traffic and proximity to the sandy beach in the village of Sylvan Beach. The building was updated within the last 8 years, including new electric, heat and air conditioning, a new roof, and a total interior renovation with updated walls, shelves, flooring, and dressing rooms. This property presents an opportunity for business ownership in a beachside village on Oneida Lake.

Key Highlights

• Prime location on busy Main Street in the heart of Sylvan Beach.
• Steps away from the sandy beach and Oneida Lake.
• Recent updates include new electric, heat, air conditioning, and roof.

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

$14,696

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

5.88%

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%

$293,920 $293.9K

Cap Rate 7%

$209,943 $209.9K

Cap Rate 9%

$163,289 $163.3K

Market Conditions

NOI Build-Up for 1,461 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

$21.9K $15.00/SF

− Vacancy

−$920 −$0.63/SF

EGI

$21.0K $14.37/SF

− OpEx

−$6.3K −$4.31/SF

NOI

$14.7K $10.06/SF

Area

Oneida County, NY

Vacancy

4.20%

Lease Rate

$15.00 /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%

$293,920

Cap Rate 7%

$209,943

Cap Rate 9%

$163,289

Alternative Uses

Best Use

Retail

$209.9K

$183.7K – $244.9K (±1% cap)

NOI $14,696 @ 7.0% cap · market cap 5.88%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$385.0K

$336.9K – $449.2K (±1% cap)

NOI $26,950 @ 7.0% cap · market cap 10.78%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Storefront properties

Suggested Use

Top Pick Building Supply Auto Parts Store (Bike/Boat/Book/etc) Store Bakery Pet Grooming Service Electrical Service

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

Location Intelligence

Trade Area within ½ mile

147

Businesses Nearby

3k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 100%

Circle K Shops & Services

2,691 visits/mo 0.5 miles

Demographics for 13157, NY

570

Population

671

Households

0.8

Avg Household Size

57

Median Age

25%

College-Educated

93%

High-School Grad

0.4 sq mi

ZIP Area

1,425

Density / Sq Mi

$53,125

Median Household Income

$59,063

Median Earnings

$969

Median Rent

$114,200

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Storefront property - Retail property in a high-traffic beachside village location.

Where is this storefront property located?

The property is located at 512 Main St Vienna, NY.

What is the asking price?

The asking price for this property is $250,000.

What are key features of this property?

This property features: Prime location on busy Main Street in the heart of Sylvan Beach.; Steps away from the sandy beach and Oneida Lake.; Recent updates include new electric, heat, air conditioning, and roof.