Plattsburgh Corner Investment
327 Cornelia St Plattsburgh, NY 12901
327 Cornelia St, Plattsburgh, NY, 12901
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For Sale
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Mixed-use property with retail, warehouse, and office spaces.
Property Size20,270 SF
Price / SF$76.47
Days on Market1250
Property Features for 327 Cornelia St
General Information
- Standard status
- Active
- Size
- 20,270 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1985
Listing agency
Cushman & Wakefield Pyramid Brokerage Company, Inc - Latham, New York
Listed by
Adam Field · License #NY 10401332278
Source
Crexi
Added: Feb 17, 2023 Updated: Jul 6 at 7:40AM Checked: Jul 21 at 6:53AM
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 Cushman & Wakefield Pyramid Brokerage Company, Inc - Latham, New York
Investment Insights
Based on property information with market context.
Located on a busy corner with a traffic light in the Plattsburgh business district, this mixed-use property features a long-term lease with Aaron's. The property includes two dock doors providing access to approximately 4,700 square feet of industrial space, complemented by an attached retail area of approximately 1,300 square feet. In 2014, three new modern office spaces were added. Approximately 6,000 square feet of retail and warehouse space is available for lease. This investment property is located on the main retail corridor in Plattsburgh, close to SUNY Plattsburgh, Clinton Community College, Plattsburgh International Airport, and the Air Force base. It is directly off of I-87 (Adirondack Northway) Exit 37. The property size is 20,270 square feet.
Key Highlights
- Pro Forma 8% cap rate investment property
- Located on the main retail corridor in Plattsburgh with high visibility
- Long‑term lease in place with Aaron's
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $192.2k | $9.48 |
| − Vacancy | −$13.5k | −$0.66 |
| EGI | $178.7k | $8.82 |
| − OpEx | −$53.6k | −$2.64 |
| NOI | $125.1k | $6.17 |
20,270 SF · lease $9.48/SF/yr · vacancy 7.00% · expense 30.00%
Alternative Uses
Best Use
Office B
$4.07M
$3.56M – $4.74M
NOI $284,591 @ 7.0% cap · market cap 18.36%
Second Best
Retail
$3.55M
$3.11M – $4.15M
NOI $248,762 @ 7.0% cap · market cap 16.05%
Theoretical Best
Office A
$5.59M
$4.89M – $6.52M
NOI $391,130 @ 7.0% cap · market cap 25.23%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
North Star Industries
Physician
Aaron's Rent To Own
Furniture & Home Goods
Stored Technology IT ...
Tech Support Center
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FAQs
What type of property is this?
Mixed-use property - Mixed-use property with retail, warehouse, and office spaces.
Where is this mixed-use property located?
The property is located at 327 Cornelia St Plattsburgh, NY.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Pro Forma 8% cap rate investment property; Located on the main retail corridor in Plattsburgh with high visibility; Long‑term lease in place with Aaron's
