General Store with Residential
For Sale
$699,900
899 E Shore Drive, Adirondack, NY 12808
COMMERCIAL - Other - Adirondack, NY
Property Size5,178 SF
Lot Size0.18 Acres
Price / SF$135.17
Days on Market47
Property Features for 899 E Shore Drive
General Information
Property type
Commercial Sale
Property subtype
Retail
Zoning
Commercial
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Bathroom 2, Bathroom 3
Parking
10
Parking features
Off Street
Security features
Security
Patio and Porch features
Porch, Patio, Deck
Interior features
Walk-In Closet(s), Ceramic Tile Bath
Basement
Interior Entry, Partial, Unfinished
Lot features
Views, Road Frontage, Level, Corner Lot, Landscaped
Elementary school
North Warren Central
High school
North Warren Central
Elementary school district
North Warren
Middle school district
North Warren
High school district
North Warren
Directions
Glendale Rd to take a left on E Shore Dr, continue approx 5 miles around the east side of the
Standard status
Active
APN
522800 20.10-1-14
Size
5,178 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
3030
Utilities
Sewer type
Septic Tank
Heating system
Forced Air, Oil
Cooling system
Central Air
Water source
Well
Amenities
hot water radiant heat
winter woodstove
central AC
automatic 25KW LP backup generator
full UV sanitation system
Building Details
Year built
1855
Floors in Building
2
Flooring type
Hardwood, Tile - Ceramic, Wood
Building materials
Wood Siding
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
Carr Real Estate Group, LLC
(518) 488-2434
Listed By:
Richard Carr · License #10491207486
(518) 488-2434
Added: Jun 27
Changed: Aug 4
Last Checked: Aug 12 at 9:06AM
MLS# 202620626
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This turnkey mixed-use property includes a fully stocked general store and the real estate, along with FF&E. The ground-floor retail space is set up for grocery and convenience-style sales, with a deli area and a fully equipped commercial kitchen. Reported features include hot water radiant heat, a winter woodstove, central AC, and an automatic 25KW LP backup generator. The well is described as having a full UV sanitation system, and former gas pumps have been properly decommissioned with an official EPA letter on file.
Located at 899 E Shore Drive on the east side of Schroon Lake in Adirondack, NY, the building is described as one of the longest continuously operating general stores in the country. The offering also includes on-site residential income, with two updated units on the second floor and a fully floored attic for storage.
The configuration supports an owner-operator model or a dual-income investment approach, combining retail operations with residential rents on-site. For tenants and buyers seeking an operational retail environment with existing deli infrastructure and supplemental residential space, the property’s ready-to-operate setup and backup power and climate systems are practical advantages to consider.
Located at 899 E Shore Drive on the east side of Schroon Lake in Adirondack, NY, the building is described as one of the longest continuously operating general stores in the country. The offering also includes on-site residential income, with two updated units on the second floor and a fully floored attic for storage.
The configuration supports an owner-operator model or a dual-income investment approach, combining retail operations with residential rents on-site. For tenants and buyers seeking an operational retail environment with existing deli infrastructure and supplemental residential space, the property’s ready-to-operate setup and backup power and climate systems are practical advantages to consider.
Key Highlights
- Commercial general store and residential income property on the east side of Schroon Lake at 899 E Shore Drive (Adirondack, NY).
- Built in 1855; construction features wood siding and a shingle/asphalt roof.
- Commercial kitchen and deli space with central air, hot water radiant heat, and a winter woodstove.
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
$50,019
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
7.15%
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%
$1,000,380
$1.0M
Cap Rate 7%
$714,557
$714.6K
Cap Rate 9%
$555,767
$555.8K
Market Conditions
NOI Build-Up for 5,178 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
$77.7K $15.00/SF
− Vacancy
−$6.2K −$1.20/SF
EGI
$71.5K $13.80/SF
− OpEx
−$21.4K −$4.14/SF
NOI
$50.0K $9.66/SF
Area
Warren County, NY
Vacancy
8.00%
Lease Rate
$15.00 /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%
$1,000,380
Cap Rate 7%
$714,557
Cap Rate 9%
$555,767
Alternative Uses
Best Use
Specialty Retail
$956.7K
$837.1K – $1.12M
NOI $66,967 @ 7.0% cap · market cap 9.57%
Second Best
Retail
$714.6K
$625.2K – $833.7K
NOI $50,019 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$1.55M
$1.36M – $1.81M
NOI $108,489 @ 7.0% cap · market cap 15.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
15
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12808, NY
343
Population
492
Households
0.7
Avg Household Size
61
Median Age
35%
College-Educated
91%
High-School Grad
14.3 sq mi
ZIP Area
24
Density / Sq Mi
$120,250
Median Household Income
$54,205
Median Earnings
$344,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Turnkey general store with a commercial deli kitchen and two updated residential units above.
Where is this grocery and convenience store located?
The property is located at 899 E Shore Drive Adirondack, NY.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Commercial general store and residential income property on the east side of Schroon Lake at 899 E Shore Drive (Adirondack, NY).; Built in 1855; construction features wood siding and a shingle/asphalt roof.; Commercial kitchen and deli space with central air, hot water radiant heat, and a winter woodstove.
