Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    11.8 Acre Commercial Site Title is generated by Realmo AI

    Military Turnpike and NY 374, Plattsburgh, NY 12901

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Vacant 11.8-acre commercial site with permitted uses.

    Type:Land
    Lot size:
    11.80 Acres
    Added:
    Mar 14, 2024
    Days on Market:
    814
    Last Refresh:
    May 13 at 8:12 pm

    Property Features for Military Turnpike and NY 374

    General Information

    Standard status
    Active
    Lot size
    11.80 Acres
    Property subtype
    Land

    We can help!

    Listing Contact
    Steven Lerner

    Listing agent Steven Lerner License #NY 10301205876

    Listing office Vanguard-Fine LLC

    Listing date Mar 14, 2024

    Source Crexi

    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 Vanguard-Fine LLC

    HighLights

    • 11.8‑acre vacant site with neighborhood commercial (N‑C) zoning.
    • High‑traffic location at the intersection of Military Turnpike and Route 374, off I‑87 Exit 38, near Plattsburgh.
    • Conceptual plans available for a truck stop with gas and convenience store.
    • Owner will deliver the site with municipal approvals in place.
    • Suitable for several other permitted uses under N‑C zoning.
    • Great opportunity for commercial development.

    Overview

    This 11.8-acre vacant site is zoned neighborhood commercial and presents a significant opportunity. Conceptual plans are available for a truck stop, including gas and a convenience store. Several other uses are permitted under the current zoning. The property benefits from its location on a heavy traffic route used for travel to and from the city of Plattsburgh. It is situated at the intersection of Military Turnpike and NY 374, near exit 38 of I87. The owner intends to deliver the property with municipal approvals in place. The zoning is N-C.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Plattsburgh
    County
    Clinton
    State
    New York
    Longitude
    -73.4626
    Latitude
    44.737

    Nearby Similar for Sale

    • $100,000
      2,946 SF

      Mixed-Use Property in Plattsburgh, NY

      Redevelopment opportunity with flexible zoning and parking.
      150 S Peru Street, Plattsburgh, NY 12901
      View Details
    • $375,000
      3,140 SF

      Student Housing Triplex Building

      Turnkey three-unit student rental with full rebuild in 2014 and updated hot water tanks in 2024.
      31 William Street, Plattsburgh, NY 12901
      View Details
    • $355,000
      2,856 SF

      Turnkey Student Housing Quadplex

      Well-maintained four-unit student rental building with recent roof and mechanical upgrades.
      5058 S Catherine Street, Plattsburgh, NY 12901
      View Details
    • $525,000
      4,800 SF

      Auto Body Shop with Rental Residence

      Auto body shop with seven overhead doors, improved shop systems, and a leased three-bedroom residence on a highly visible site.
      1436-1438 Military Turnpike, Plattsburgh, NY 12901
      View Details
    • $375,000
      4,383 SF

      Historic Restaurant & Residential Property

      Mixed-use property with restaurant space and residential apartments in Plattsburgh.
      20 Brinkerhoff Street, Plattsburgh, NY 12901
      View Details
    • $179,000
      1,200 SF

      Plattsburgh Office with Lakeview Suite

      Prestigious office complex with sought-after upper lakeview suite.
      201 W Bay Plaza, Plattsburgh, NY 12901
      View Details
    • $660,000
      4,439 SF

      Student Housing Multifamily Investment

      Meticulously maintained student housing with strong occupancy history.
      50 Broad Street, Plattsburgh, NY 12901
      View Details
    • $256,900
      1,887 SF

      Two-Unit Home in Beekmantown

      Two-unit home in excellent condition with income potential.
      182 Spellman Road, Plattsburgh, NY 12901
      View Details
    • $495,000
      3,178 SF

      Well-Maintained Duplex Near Plattsburgh Amenities

      Spacious duplex with rental income potential near Plattsburgh amenities.
      24-26 Fay Lane, Plattsburgh, NY 12901
      View Details
    • $329,900
      2,393 SF

      Owner-Occupied Duplex with Income

      Updated two-unit duplex with refinished hardwoods, upgraded kitchen and appliances, new roof, and freshly painted siding.
      16 Robinson Terrace, Plattsburgh, NY 12901
      View Details
    • $325,000

      Plattsburgh Commercial Land Opportunity

      Prime development land with excellent visibility and convenient access.
      Margaret Street, Plattsburgh, NY 12901
      View Details
    • $175,000
      1,628 SF

      Plattsburgh City Duplex For Sale

      City duplex with two and three-bedroom apartments, convenient location.
      36 Champlain Street, Plattsburgh, NY 12901
      View Details

    FAQs

    What type of property is this?
    Commercial land - Vacant 11.8-acre commercial site with permitted uses.
    Where is this commercial land located?
    The property is located at Military Turnpike and NY 374 Plattsburgh, NY.
    What is the asking price?
    The asking price for this property is $1,150,000.
    What are key features of this property?
    This property features: 11.8‑acre vacant site with neighborhood commercial (N‑C) zoning.; High‑traffic location at the intersection of Military Turnpike and Route 374, off I‑87 Exit 38, near Plattsburgh.; Conceptual plans available for a truck stop with gas and convenience store.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Steven Lerner
    Real Estate License ID: NY 10301205876
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Military Turnpike and NY 374, Plattsburgh, NY 12901
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!