Plattsburgh Corner Investment
For Sale
Contact for pricing
327 Cornelia St, Plattsburgh, NY 12901
Mixed-use property with retail, warehouse, and office spaces.
Property Size20,270 SF
Price / SF$76.47
Days on Market1296
Property Features for 327 Cornelia St
General Information
Standard status
Active
Size
20,270 SF
Property subtype
Retail
Zoning
B-2
Occupancy
67%
Lease Type
Gross
Building Details
Year Built
1985
Year Renovated
2014
Stories
1
Tenancy
Multi
Listing Agency:
Cushman & Wakefield Pyramid Brokerage Company, Inc - Latham, New York
Listed By:
Adam Field · License #NY 10401332278
Source:
Crexi
Added: Feb 17, 2023
Changed: Sep 2
Last Checked: Sep 4 at 5:32AM
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
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
$125,096
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
8.07%
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%
$2,501,920
$2.5M
Cap Rate 7%
$1,787,086
$1.8M
Cap Rate 9%
$1,389,956
$1.4M
Market Conditions
NOI Build-Up for 20,270 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
$192.2K $9.48/SF
− Vacancy
−$13.5K −$0.66/SF
EGI
$178.7K $8.82/SF
− OpEx
−$53.6K −$2.64/SF
NOI
$125.1K $6.17/SF
Area
Clinton County, NY
Vacancy
7.00%
Lease Rate
$9.48 /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%
$2,501,920
Cap Rate 7%
$1,787,086
Cap Rate 9%
$1,389,956
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 authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,046
Businesses Nearby
Explore this area
Business Placement
Demographics for 12901, NY
32,147
Population
15,426
Households
2.1
Avg Household Size
38
Median Age
33%
College-Educated
89%
High-School Grad
70.6 sq mi
ZIP Area
455
Density / Sq Mi
$59,413
Median Household Income
$35,385
Median Earnings
$957
Median Rent
$182,100
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
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
