Convenience Store Building with
For Sale
Contact for pricing
53 Ridge Road, Lansing, NY 14882
Commercial site with paved parking, two driveway cuts, and public water and natural gas service.
Property Size2,400 SF
Price / SF$1.46
Days on Market97
Property Features for 53 Ridge Road
General Information
Standard status
Active
Size
2,400 SF
Property subtype
CommercialLease
Listing Agency:
Landquest Inc.
(607) 844-9690
Listed By:
Brian Jackson · License #10401243223
(607) 280-1058
Source:
Nicholcityrealty
Added: Jul 12
Changed: Oct 4
Last Checked: Oct 16 at 8:52AM
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 Landquest Inc.
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Investment Insights
Based on property information with market context.
The property includes a 2,400-square-foot commercial building currently configured as a mini mart convenience store. Existing improvements include several coolers and a deli display cooler, along with a paved parking area, two driveway cuts, and additional parking along the rear and sides of the building. The convenience-store operation has been in place for more than a decade.
Located on Ridge Road in Lansing, the property is near Cayuga Lake, a local park, a marina, schools, and ball fields. The site carries mixed-use commercial zoning and is served by public water and natural gas, providing established utility infrastructure for the existing commercial layout.
Located on Ridge Road in Lansing, the property is near Cayuga Lake, a local park, a marina, schools, and ball fields. The site carries mixed-use commercial zoning and is served by public water and natural gas, providing established utility infrastructure for the existing commercial layout.
Key Highlights
- 2,400‑square‑foot building configured as a mini mart convenience store
- Several coolers and a deli display cooler remain in place
- Paved parking lot with additional parking at the rear and sides
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,515
Suggested Prices Based on Cap Rates
Cap Rate 5%
$610,300
$610.3K
Cap Rate 7%
$435,929
$435.9K
Cap Rate 9%
$339,056
$339.1K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$45.5K $18.96/SF
− Vacancy
−$1.9K −$0.80/SF
EGI
$43.6K $18.16/SF
− OpEx
−$13.1K −$5.45/SF
NOI
$30.5K $12.71/SF
Area
Tompkins County, NY
Vacancy
4.20%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$610,300
Cap Rate 7%
$435,929
Cap Rate 9%
$339,056
Alternative Uses
Best Use
Specialty Retail
$443.4K
$388.0K – $517.3K
NOI $31,039 @ 7.0% cap · market cap 886.83%
Second Best
Retail
$435.9K
$381.4K – $508.6K
NOI $30,515 @ 7.0% cap · market cap 871.86%
Theoretical Best
Office A
$748.9K
$655.3K – $873.7K
NOI $52,423 @ 7.0% cap · market cap 1,497.80%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
75
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14882, NY
3,890
Population
1,619
Households
2.4
Avg Household Size
43
Median Age
49%
College-Educated
98%
High-School Grad
32.5 sq mi
ZIP Area
120
Density / Sq Mi
$94,886
Median Household Income
$42,288
Median Earnings
$1,348
Median Rent
$274,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Commercial site with paved parking, two driveway cuts, and public water and natural gas service.
Where is this grocery and convenience store located?
The property is located at 53 Ridge Road Lansing, NY.
What are key features of this property?
This property features: 2,400‑square‑foot building configured as a mini mart convenience store; Several coolers and a deli display cooler remain in place; Paved parking lot with additional parking at the rear and sides
