Restaurant/Retail Opportunity Near Phoenix
For Sale
Contact for pricing
2935 Lamson Road, Phoenix, NY 13135
2,100 SF building on 1.13 acres near Phoenix.
Property Size2,088 SF
Lot Size1.13 Acres
Price / SF$136.49
Days on Market756
Property Features for 2935 Lamson Road
General Information
Standard status
Active
Size
2,088 SF
Lot size
1.13 Acres
Property subtype
Retail, Land
Listing Agency:
Coldwell Banker Prime Properties Camillus
Listed By:
Brice Clark · License #NY
Source:
Crexi
Added: Aug 12, 2024
Changed: Aug 28
Last Checked: Sep 5 at 5:43AM
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 Coldwell Banker Prime Properties Camillus
Investment Insights
Based on property information with market context.
This 2,100 square foot building is situated on a 1.13-acre lot. The property benefits from its location on a high-traffic street, offering road frontage and access from two sides. The parking lot can accommodate over 70 vehicles. Currently operating as a pizzeria and ice cream shop, the building features both indoor and outdoor seating areas, along with a walk-up window. The fully equipped kitchen is designed to accommodate various types of restaurants, diners, and bars, and includes 3-phase electrical, a walk-in cooler, and an outdoor grease trap. The property is located a quarter mile from the Village of Phoenix and the North Island enhancement project at Lock 1 of the Oswego Canal, and is just 4 minutes north of Radisson. This high-visibility location offers potential for various business ventures.
Key Highlights
- High‑traffic location with road frontage and access on two sides.
- Large parking lot with 70+ vehicle capacity.
- 2100 square foot building on 1.13 acres.
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
$20,163
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
7.07%
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%
$403,260
$403.3K
Cap Rate 7%
$288,043
$288.0K
Cap Rate 9%
$224,033
$224.0K
Market Conditions
NOI Build-Up for 2,088 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
$30.1K $14.40/SF
− Vacancy
−$1.3K −$0.60/SF
EGI
$28.8K $13.80/SF
− OpEx
−$8.6K −$4.14/SF
NOI
$20.2K $9.66/SF
Area
Oswego County, NY
Vacancy
4.20%
Lease Rate
$14.40 /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%
$403,260
Cap Rate 7%
$288,043
Cap Rate 9%
$224,033
Alternative Uses
Best Use
Specialty Retail
$385.8K
$337.6K – $450.1K
NOI $27,004 @ 7.0% cap · market cap 9.48%
Second Best
Retail
$288.0K
$252.0K – $336.1K
NOI $20,163 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$416.5K
$364.4K – $485.9K
NOI $29,153 @ 7.0% cap · market cap 10.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
164
Businesses Nearby
11k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Circle K
Shops & Services
11,250 visits/mo
0.5 miles
Demographics for 13135, NY
6,303
Population
2,592
Households
2.4
Avg Household Size
42
Median Age
29%
College-Educated
93%
High-School Grad
32.0 sq mi
ZIP Area
197
Density / Sq Mi
$82,977
Median Household Income
$40,953
Median Earnings
$965
Median Rent
$166,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - 2,100 SF building on 1.13 acres near Phoenix.
Where is this conventional restaurant located?
The property is located at 2935 Lamson Road Phoenix, NY.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: High‑traffic location with road frontage and access on two sides.; Large parking lot with 70+ vehicle capacity.; 2100 square foot building on 1.13 acres.
