Building Details

Year Built 1903

Stories 1

Listing Agency: Candy Costa Real Estate LLC

Listed By: Candy Costa · License #NY 10491209117 Show Phone

Source: Crexi

Added: Nov 18, 2023 Changed: Oct 1 Last Checked: Oct 23 at 6:43AM

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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 Candy Costa Real Estate LLC

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Review the available facts, identify missing information and prepare questions for the agent.

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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 / Yr

$87,989

Cap Rate

5.91%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,759,780 $1.8M

Cap Rate 7%

$1,256,986 $1.3M

Cap Rate 9%

$977,656 $977.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 8,356 SF

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 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 (±1% cap)

NOI $87,989 @ 7.0% cap · market cap 5.91%

Second Best

Retail

$1.15M

$1.01M – $1.34M (±1% cap)

NOI $80,691 @ 7.0% cap · market cap 5.42%

Theoretical Best

Office A

$1.67M

$1.46M – $1.94M (±1% cap)

NOI $116,668 @ 7.0% cap · market cap 7.83%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Commercial land

Suggested Use

Top Pick Storage Facility Locksmith Furniture & Home Goods Garden Center Building Supply Bakery

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

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

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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.