Prime Development Land I-81
For Sale
Contact for pricing
2931-39 State Route 49, Central Square, NY 13036
13 acres near Micron facility with I-81 frontage.
Property Size8,356 SF
Lot Size13.00 Acres
Price / SF$178.31
Days on Market1022
Property Features for 2931-39 State Route 49
General Information
Standard status
Active
Size
8,356 SF
Class
C
Lot size
13.00 Acres
Property subtype
Mixed Use, Retail, Special Purpose, Office, Business for Sale
Zoning
Commericial
Building Details
Year Built
1903
Stories
1
Listing Agency:
Candy Costa Real Estate LLC
Listed By:
Candy Costa · License #NY 10491209117
(315) 447-0668
Source:
Crexi
Added: Nov 18, 2023
Changed: Aug 14
Last Checked: Aug 31 at 3:36AM
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.
This 13-acre property is situated seconds from the Central Square Exit in the Town of West Monroe and minutes from the north shore of Oneida Lake. It features 365 feet of commercially zoned frontage on Route 49 and is adjacent to Interstate 81, placing it in a prime area for new development, especially given its proximity to the Micron facility's location. The property currently includes a 1,604-square-foot single-family house and five additional flex-style buildings. These include a 90x50 pole barn, a 30x40 pole barn, a 20x25 garage, a 12x30 shed, and a 12x16 shed. The site was previously used as a golf shop and driving range. The location offers endless possibilities for retail, hospitality, a shopping plaza, grocery store, medical facilities, or heavy equipment operations, welcoming businesses to this fast-growing community. Natural gas is on its way, and public sewer is in the works, soon to follow.
Key Highlights
- Prime location adjacent to Interstate 81 and minutes from the Micron facility location, ideal for new development.
- 13 acres of land with 365' of commercially zoned frontage on RT 49.
- Endless possibilities for various commercial ventures: retail, hospitality, shopping plaza, grocery, medical, heavy equipment.
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
$87,989
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
5.91%
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%
$1,759,780
$1.8M
Cap Rate 7%
$1,256,986
$1.3M
Cap Rate 9%
$977,656
$977.7K
Market Conditions
NOI Build-Up for 8,356 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
$150.4K $18.00/SF
− Vacancy
−$33.1K −$3.96/SF
EGI
$117.3K $14.04/SF
− OpEx
−$29.3K −$3.51/SF
NOI
$88.0K $10.53/SF
Area
Oswego County, NY
Vacancy
22.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,759,780
Cap Rate 7%
$1,256,986
Cap Rate 9%
$977,656
Alternative Uses
Best Use
Office B
$1.26M
$1.10M – $1.47M
NOI $87,989 @ 7.0% cap · market cap 5.91%
Second Best
Retail
$1.15M
$1.01M – $1.34M
NOI $80,691 @ 7.0% cap · market cap 5.42%
Theoretical Best
Office A
$1.67M
$1.46M – $1.94M
NOI $116,668 @ 7.0% cap · market cap 7.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
88
Businesses Nearby
Explore this area
Business Placement
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 Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - 13 acres near Micron facility with I-81 frontage.
Where is this mixed-use property located?
The property is located at 2931-39 State Route 49 Central Square, NY.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: Prime location adjacent to Interstate 81 and minutes from the Micron facility location, ideal for new development.; 13 acres of land with 365' of commercially zoned frontage on RT 49.; Endless possibilities for various commercial ventures: retail, hospitality, shopping plaza, grocery, medical, heavy equipment.
