Former Veterinarian/Kennel Business For
For Sale
Contact for pricing
92-96 Grant Ave, Auburn, NY 13021
Single-story building with kennel, office, barn, garage, and home.
Property Size4,165 SF
Price / SF$120.02
Days on Market1319
Property Features for 92-96 Grant Ave
General Information
Standard status
Active
Size
4,165 SF
Property subtype
Retail
Investment Type
Redevelopment
Building Details
Buildings
3
Stories
2
Listing Agency:
Donovan Real Estate Services
(585) 703-3888
Listed By:
Brian Donovan · License #NY 10491202934
Source:
Crexi
Added: Jan 20, 2023
Changed: Aug 15
Last Checked: Aug 31 at 2:22AM
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 Donovan Real Estate Services
Investment Insights
Based on property information with market context.
This property, formerly a veterinarian and kennel business, features a single-story building that includes a full kennel and veterinarian office. Additionally, there is a detached barn/garage and a two-story single-family home situated on the lot. The property is partially fenced, with the kennel area specifically enclosed to provide outdoor space for dogs. Auburn serves as the central hub for retail activity in Cayuga County, and this property is located along Grant Avenue, the town's primary retail and commercial corridor. Nearby retailers include Marshall's, AC Moore, Harbor Freight, Planet Fitness, Bed Bath & Beyond, and Five Below. Other retailers along Grant Avenue include Walmart & Lowe's, Staples, BJ's Wholesale Club, Tractor Supply, and Big Lots. Numerous restaurants are located in the immediate vicinity, such as Starbucks, Applebee's, Panera, Dunkin', Taco Bell, McDonald's, Wendy's, Arby's, and Burger King. Major employers in Auburn include Auburn Community Hospital with 767 employees, the Department of Corrections with 700 employees, and the Auburn City School District with 444 employees. The building size is 4165 square feet.
Key Highlights
- Located on Grant Ave, the primary retail and commercial corridor in Auburn, offering high visibility and accessibility.
- Includes a single‑story building with a full kennel and veterinarian office, suitable for related businesses.
- Features a detached barn/garage for storage or additional workspace.
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
$41,896
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
8.38%
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%
$837,920
$837.9K
Cap Rate 7%
$598,514
$598.5K
Cap Rate 9%
$465,511
$465.5K
Market Conditions
NOI Build-Up for 4,165 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
$62.5K $15.00/SF
− Vacancy
−$2.6K −$0.63/SF
EGI
$59.9K $14.37/SF
− OpEx
−$18.0K −$4.31/SF
NOI
$41.9K $10.06/SF
Area
Cayuga County, NY
Vacancy
4.20%
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%
$837,920
Cap Rate 7%
$598,514
Cap Rate 9%
$465,511
Alternative Uses
Best Use
Retail
$598.5K
$523.7K – $698.3K
NOI $41,896 @ 7.0% cap · market cap 8.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$923.1K
$807.7K – $1.08M
NOI $64,614 @ 7.0% cap · market cap 12.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
748
Businesses Nearby
84k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 64%
Shops & Services 35%
Electronics 2%
Byrne Dairy
Shops & Services
21,305 visits/mo
0.3 miles
Starbucks
Dining
18,587 visits/mo
0.3 miles
Taco Bell
Dining
18,513 visits/mo
0.4 miles
Dunkin' Donuts
Dining
13,765 visits/mo
0.2 miles
Mark's Pizzeria
Dining
2,896 visits/mo
0.4 miles
Demographics for 13021, NY
38,479
Population
18,847
Households
2
Avg Household Size
44
Median Age
27%
College-Educated
91%
High-School Grad
119.2 sq mi
ZIP Area
323
Density / Sq Mi
$58,946
Median Household Income
$41,990
Median Earnings
$874
Median Rent
$169,300
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.
Frequently Asked Questions
What type of property is this?
Retail property - Single-story building with kennel, office, barn, garage, and home.
Where is this retail property located?
The property is located at 92-96 Grant Ave Auburn, NY.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Located on Grant Ave, the primary retail and commercial corridor in Auburn, offering **high visibility and accessibility**.; Includes a single‑story building with a **full kennel and veterinarian office**, suitable for related businesses.; Features a detached barn/garage for storage or additional workspace.
