Corner-Lot Auto
For Sale
$629,900
583 S Main Street, Hastings, NY 13036
Established automotive property with gas station zoning and a corner-lot configuration.
Property Size7,080 SF
Lot Size0.55 Acres
Price / SF$88.97
Days on Market45
Property Features for 583 S Main Street
General Information
Standard status
Active
Size
7,080 SF
Lot size
0.55 Acres
Property subtype
CommercialSale
Zoning
gas station zoning
Additional Details
Road Access
Yes
Land Use
automotive, gas station
Listing Agency:
Candy Costa Real Estate LLC
(315) 447-0668
Listed By:
Candy Costa · License #10491209117
(315) 447-0668
Source:
Nicholcityrealty
Added: Jul 18
Changed: Aug 30
Last Checked: Aug 25 at 9:53AM
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 Candy Costa Real Estate LLC
Investment Insights
Based on property information with market context.
Located at 583 S Main St in Central Square, NY, this automotive property occupies a 0.55-acre corner lot and has supported an automotive business for more than 40 years. The property is identified locally as Adams Auto Automotive and carries gas station zoning.
Its existing automotive orientation, corner positioning, and established operating history support continued automotive use, redevelopment, or evaluation for a future fuel station concept. The property address is 583 S Main St, Central Square, NY 13036.
Its existing automotive orientation, corner positioning, and established operating history support continued automotive use, redevelopment, or evaluation for a future fuel station concept. The property address is 583 S Main St, Central Square, NY 13036.
Key Highlights
- 0.55‑acre corner lot at 583 S Main St
- Gas station zoning
- Automotive business operating at the property for over 40 years
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
$43,788
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
6.95%
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%
$875,760
$875.8K
Cap Rate 7%
$625,543
$625.5K
Cap Rate 9%
$486,533
$486.5K
Market Conditions
NOI Build-Up for 7,080 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
$67.1K $9.48/SF
− Vacancy
−$4.6K −$0.64/SF
EGI
$62.6K $8.84/SF
− OpEx
−$18.8K −$2.65/SF
NOI
$43.8K $6.18/SF
Area
Oswego County, NY
Vacancy
6.80%
Lease Rate
$9.48 /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%
$875,760
Cap Rate 7%
$625,543
Cap Rate 9%
$486,533
Alternative Uses
Best Use
Retail
$976.7K
$854.6K – $1.14M
NOI $68,369 @ 7.0% cap · market cap 10.85%
Second Best
Industrial
$625.5K
$547.4K – $729.8K
NOI $43,788 @ 7.0% cap · market cap 6.95%
Theoretical Best
Office A
$1.41M
$1.24M – $1.65M
NOI $98,853 @ 7.0% cap · market cap 15.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
243
Businesses Nearby
3k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Jreck Subs
Dining
3,484 visits/mo
0.3 miles
Demographics for 13036, NY
8,601
Population
3,959
Households
2.2
Avg Household Size
45
Median Age
22%
College-Educated
94%
High-School Grad
46.1 sq mi
ZIP Area
187
Density / Sq Mi
$87,610
Median Household Income
$45,448
Median Earnings
$960
Median Rent
$173,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Chauvaux's Service Center — 473 US-11, Central Square, NY 13036
- Clevelands Garage LLC — 526 S Main St, Central Square, NY 13036
- The new central sq auto repair — 518 S Main St, Central Square, NY 13036
- Reymore Chevrolet Service — 746 N Main St, Central Square, NY 13036
- Chevrolet Service Center — 746 N Main St suite a, Central Square, NY 13036
Frequently Asked Questions
What type of property is this?
Auto shop - Established automotive property with gas station zoning and a corner-lot configuration.
Where is this auto shop located?
The property is located at 583 S Main Street Hastings, NY.
What is the asking price?
The asking price for this property is $629,900.
What are key features of this property?
This property features: 0.55‑acre corner lot at 583 S Main St; Gas station zoning; Automotive business operating at the property for over 40 years
