Building Details

Building Size 1,872 SF

Year Built 1999

Stories 1

Listing Agency: Century 21 Galloway Realty j***@c21galloway.com Show Phone

Listed By: Jeffrey Tonkin · License #30TO0955654 Show Phone

Source: Elliman

Added: Nov 28, 2025 Changed: Aug 8 Last Checked: Aug 20 at 11:12AM

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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 Century 21 Galloway Realty

Investment Insights

Based on property information with market context.

This standalone, one-story commercial building provides 1,872 square feet of space. Constructed with a frame and metal exterior, the property is situated in a visible location with notable traffic. The building is suitable for a variety of commercial ventures. The property benefits from existing customer traffic and a strong local presence. It is located near a convenience store and gas station.

Key Highlights

• High‑visibility location with excellent traffic flow.
• Versatile 1,872 sq ft standalone, 1‑story commercial building.
• Strong local presence and existing customer traffic.

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

$18,077

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

9.04%

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%

$361,540 $361.5K

Cap Rate 7%

$258,243 $258.2K

Cap Rate 9%

$200,856 $200.9K

Market Conditions

NOI Build-Up for 1,872 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

$27.0K $14.40/SF

− Vacancy

−$1.1K −$0.60/SF

EGI

$25.8K $13.80/SF

− OpEx

−$7.7K −$4.14/SF

NOI

$18.1K $9.66/SF

Area

Oswego County, NY

Vacancy

4.20%

Lease Rate

$14.40 /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%

$361,540

Cap Rate 7%

$258,243

Cap Rate 9%

$200,856

Alternative Uses

Best Use

Specialty Retail

$345.9K

$302.6K – $403.5K (±1% cap)

NOI $24,211 @ 7.0% cap · market cap 12.11%

Second Best

Retail

$258.2K

$226.0K – $301.3K (±1% cap)

NOI $18,077 @ 7.0% cap · market cap 9.04%

Theoretical Best

Office A

$373.4K

$326.7K – $435.6K (±1% cap)

NOI $26,137 @ 7.0% cap · market cap 13.07%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Grocery and convenience stores

Suggested Use

Top Pick Building Supply HVAC Service Restaurant Electrical Service Garden Center Grocery & Convenience 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.

Location Intelligence

Trade Area within ½ mile

33

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 13126, NY

35,477

Population

15,668

Households

2.3

Avg Household Size

36

Median Age

29%

College-Educated

92%

High-School Grad

100.7 sq mi

ZIP Area

352

Density / Sq Mi

$63,590

Median Household Income

$30,469

Median Earnings

$992

Median Rent

$134,600

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?

Grocery and convenience store - 1,872 SF commercial building suitable for retail or other ventures.

Where is this grocery and convenience store located?

The property is located at 5676 State Route 104 Scriba, NY.

What is the asking price?

The asking price for this property is $200,000.

What are key features of this property?

This property features: High‑visibility location with excellent traffic flow.; Versatile 1,872 sq ft standalone, 1‑story commercial building.; Strong local presence and existing customer traffic.