Building Details

Year Built 1968

Buildings 2

Tenancy Multi

Listing Agency: NY Real Estate

Listed By: Ariane Palmer · License #NY 10491211743 Show Phone

Source: Crexi

Added: Nov 4, 2022 Changed: Oct 9 Last Checked: Oct 20 at 9:16PM

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Investment Insights

Based on property information with market context.

Two commercial buildings in the Village of Canton offer high visibility and potential for business ownership. One building houses 'Bessette's Liquor and Wine', a centrally located business with 22 years of operation and a customer base near residences, businesses, non-profits, and educational institutions. The commercial business package includes a beer and convenient store with bottle redemption, offering cold beer and grocery items. The property is suitable for one or two owner-operators and features ample parking. The property size is 3214 square feet.

Key Highlights

• Two commercial buildings offer high visibility and conversion potential
• Includes 'Bessette's Liquor and Wine' store with 22 years of successful operation and established customer base
• Comes with a beer/convenience store and bottle redemption business

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$40,865

Cap Rate

9.10%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$817,300 $817.3K

Cap Rate 7%

$583,786 $583.8K

Cap Rate 9%

$454,056 $454.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,214 SF

Gross rent

$60.9K $18.96/SF

− Vacancy

−$2.6K −$0.80/SF

EGI

$58.4K $18.16/SF

− OpEx

−$17.5K −$5.45/SF

NOI

$40.9K $12.71/SF

Area

St. Lawrence County, NY

Vacancy

4.20%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$817,300

Cap Rate 7%

$583,786

Cap Rate 9%

$454,056

Alternative Uses

Best Use

Specialty Retail

$712.6K

$623.5K – $831.3K (±1% cap)

NOI $49,880 @ 7.0% cap · market cap 11.11%

Second Best

Retail

$583.8K

$510.8K – $681.1K (±1% cap)

NOI $40,865 @ 7.0% cap · market cap 9.10%

Theoretical Best

Office A

$797.4K

$697.7K – $930.3K (±1% cap)

NOI $55,816 @ 7.0% cap · market cap 12.43%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Bessette's Liquor's & Wine (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Auto Repair Shop Kitchen & Bath Showroom Plumbing Service (Bike/Boat/Book/etc) Store Parking Lot & Garage Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

503

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 13617, NY

12,083

Population

4,645

Households

2.6

Avg Household Size

29

Median Age

36%

College-Educated

93%

High-School Grad

132.5 sq mi

ZIP Area

91

Density / Sq Mi

$72,652

Median Household Income

$26,397

Median Earnings

$901

Median Rent

$148,900

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Grocery and convenience store - Two commercial buildings with business opportunities in Canton, New York.

Where is this grocery and convenience store located?

The property is located at 37 Gouverneur St Canton, NY.

What is the asking price?

The asking price for this property is $449,000.

What are key features of this property?

This property features: Two commercial buildings offer high visibility and conversion potential; Includes 'Bessette's Liquor and Wine' store with 22 years of successful operation and established customer base; Comes with a beer/convenience store and bottle redemption business