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    3884 State Route 31 Clay, NY 13090

    Sponsored
    For Lease
    Contact for pricing

    0.57-Acre Commercial Lot For Lease

    Lot size:
    3,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    402
    This exceptional 0.57-acre commercial land parcel, located at 3884 State Route 31 in Clay, NY (zip code 13090), presents a unique investment opportunity. Situated in Onondaga County, this single-tenant property offers significant potential for various commercial ventures. The expansive lot size provides ample space for development, allowing for flexibility in design and construction. The property boasts a total building square footage of 3,000 square feet, although no existing structures are currently present. This presents a blank canvas for a new build-to-suit project or the expansion of an existing business. The strategic location on State Route 31 ensures high visibility and convenient access for customers and employees. This prime commercial land is ideal for businesses seeking a prominent location with excellent accessibility in a thriving area. The property is currently available for lease, offering a chance to establish a strong presence in a dynamic market. Interested parties are encouraged to explore the possibilities this exceptional property offers. Detailed site plans and zoning information are available upon request. This is a rare opportunity to acquire a significant commercial land parcel in a desirable location. Don't miss out on this chance to secure your future in Clay, New York.

    Property Features for 3884 State Route 31

    General Information

    Property type
    Land
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    3,000 SF

    Unit(s) available at that property

    Space
    Available Space
    Size
    3,000 SF

    We can help!

    Listing Contact
    Shannon Older
    Shannon Older

    Learn more

    HighLights

    • 0.57‑acre commercial land parcel available for lease or build‑to‑suit in Clay, NY (13090).
    • High‑traffic location on Route 31, exceeding 26,000 cars daily.
    • Pad site near Lowe's and Hobby Lobby anchored center in Liverpool.
    • Located in the northwest quadrant of the Syracuse DMA.
    • Proximity to Micron's planned $100 billion facility (Phase 1 construction anticipated in 2024), 4.5 miles east on Route 31.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Clay
    County
    Onondaga
    State
    New York
    Longitude
    -76.24435
    Latitude
    43.18321

    Nearby Comparable

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      Office/Retail Building Near Micron Site

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    Nearby Similar for Lease

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      Office/Retail Building Near Micron Site

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      Oswego Road Commercial Space Available

      Commercial space for rent on Oswego Rd, Clay, NY.
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    FAQs

    What type of property is this?
    Land - 0.57-Acre Commercial Lot For Lease
    Where is this land located?
    The property is located at 3884 State Route 31 Clay, NY.
    What are key features of this property?
    This property features: 0.57-acre commercial land parcel available for lease or build-to-suit in Clay, NY (13090).; High-traffic location on Route 31, exceeding 26,000 cars daily.; Pad site near Lowe's and Hobby Lobby anchored center in Liverpool.
    Request Owner's contact information
    3884 State Route 31 Clay, NY 13090
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    Clay, NY 13090
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3884 State Route 31 Clay, NY 13090
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    We can help!
    Listing Contact
    Shannon Older
    Shannon Older
    Real Estate License ID: NY
    Learn more
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