Leased Grocery
For Sale
$8,975,422
7 Pyramid Drive, Plattsburgh, NY 12901
Fully leased grocery property with access from the Adirondack Northway near Plattsburgh.
Property Size51,918 SF
Price / SF$172.88
Days on Market136
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Property Features for 7 Pyramid Drive
General Information
Standard status
Active
Size
51,918 SF
Property subtype
Retail
Occupancy
100%
Additional Details
Highway Access
Yes
Building Details
Tenancy
Single
Listing Agency:
CBRE | Albany
Listed By:
Laurie Tylenda · License #Associate Real Estate Broker
(518) 429-6175
Source:
Cbre
Added: Jun 2
Changed: Oct 15
Last Checked: Oct 14 at 7:57PM
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 CBRE | Albany
Investment Insights
Based on property information with market context.
This fully leased grocery property contains approximately 51,918 SF and is operated by Hannaford. The lease is held by Martin’s Foods of South Burlington, Inc., with Ahold Delhaize USA identified as the parent company.
The property is located at 7 Pyramid Drive in Plattsburgh, NY, just off I-87 Adirondack Northway Exit 37. Optional adjacent acreage is also available, providing an additional component for consideration with the grocery store.
The property is located at 7 Pyramid Drive in Plattsburgh, NY, just off I-87 Adirondack Northway Exit 37. Optional adjacent acreage is also available, providing an additional component for consideration with the grocery store.
Key Highlights
- ±51,918 SF grocery store
- Fully leased property
- Hannaford is the operating entity
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$671,455
Cap Rate
7.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,429,100
$13.4M
Cap Rate 7%
$9,592,214
$9.6M
Cap Rate 9%
$7,460,611
$7.5M
Market Conditions
NOI Build-Up for 51,918 SF
Gross rent
$934.5K $18.00/SF
− Vacancy
−$39.3K −$0.76/SF
EGI
$895.3K $17.24/SF
− OpEx
−$223.8K −$4.31/SF
NOI
$671.5K $12.93/SF
Area
Clinton County, NY
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$13,429,100
Cap Rate 7%
$9,592,214
Cap Rate 9%
$7,460,611
Alternative Uses
Best Use
Specialty Retail
$9.59M
$8.39M – $11.19M
NOI $671,455 @ 7.0% cap · market cap 7.48%
Second Best
Retail
$9.10M
$7.96M – $10.62M
NOI $637,158 @ 7.0% cap · market cap 7.10%
Theoretical Best
Office A
$14.31M
$12.52M – $16.70M
NOI $1,001,810 @ 7.0% cap · market cap 11.16%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
720
Businesses Nearby
432k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 27%
Shops & Services 23%
Superstores 19%
Home Improvements & Furnishings 11%
Target
Superstores
83,099 visits/mo
0.3 miles
Hannaford
Groceries
36,091 visits/mo
0.0 miles
Lowe's
Home Improvements & Furnishings
35,026 visits/mo
0.5 miles
Runnings
Apparel
27,957 visits/mo
0.5 miles
DICK'S Sporting Goods
Apparel
27,688 visits/mo
0.3 miles
Demographics for 12901, NY
32,147
Population
15,426
Households
2.1
Avg Household Size
38
Median Age
33%
College-Educated
89%
High-School Grad
70.6 sq mi
ZIP Area
455
Density / Sq Mi
$59,413
Median Household Income
$35,385
Median Earnings
$957
Median Rent
$182,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Walmart #1994 GM Truck Recieving — Plattsburgh, NY 12901
- Target Grocery — 60 Smithfield Blvd Suite 49, Plattsburgh, NY 12901
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Fully leased grocery property with access from the Adirondack Northway near Plattsburgh.
Where is this grocery and convenience store located?
The property is located at 7 Pyramid Drive Plattsburgh, NY.
What is the asking price?
The asking price for this property is $8,975,422.
What are key features of this property?
This property features: ±51,918 SF grocery store; Fully leased property; Hannaford is the operating entity
