Grocery and Convenience
New
For Sale
$399,900
96 Lake Avenue, Lake Luzerne, NY 12846
Commercial Sale, Lake Luzerne, NY
Property Size2,565 SF
Lot Size0.13 Acres
Price / SF$155.91
Days on Market2
Property Features for 96 Lake Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Bathrooms
1
Full bathrooms
1
Rooms
Bathroom 1
Parking
14
Directions
Route 9n from Corinth to Lake Luzerne, will be on the right near intersection of East River Dr and Route 9n.
Standard status
Active
APN
523200 298.20-1-66
Size
2,565 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
3758
Utilities
Sewer type
Septic Tank
Heating system
Electric (Heating), Oil, Hot Water(Heating), Ductless (Heating)
Cooling system
Ductless
Water source
Public
Building Details
Year built
1975
Flooring type
Vinyl, Tile - Ceramic, Concrete
Building materials
Vinyl Siding
Architectural style
Other
Listing Agency:
Winslow Realty
(518) 654-9552
Listed By:
Brian M Winslow · License #40WI1010618
(518) 932-9772
Added: Sep 3
Last Checked: Sep 4 at 1:06PM
MLS# 202625422
Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,565-square-foot commercial property includes an operating convenience and grocery business, fixtures, inventory, and substantial food-service improvements. The interior features a commercial kitchen with multiple cooking stations, ovens and ranges, prep areas, stainless-steel sinks, refrigeration, a walk-in cooler, storage, a dedicated office, restroom, and additional back-of-house space. Vinyl, ceramic tile, and concrete flooring are installed throughout the building. Recent improvements include a repaved parking lot, new freezer equipment, walk-in cooler compressors, deli coolers, an oven and proofer, epoxy flooring, boiler, and siding.
The property is located at 96 Lake Avenue along Route 9N in Lake Luzerne, with approximately 162 feet of road frontage and customer parking. It occupies 0.13 acres, is zoned Commercial, and was built in 1975. Public water and septic service support the site, with electric, oil, hot-water, and ductless heating systems and ductless cooling. The offering can support continued operation under the existing Joe's Mini Mart business or another related commercial concept.
The property is located at 96 Lake Avenue along Route 9N in Lake Luzerne, with approximately 162 feet of road frontage and customer parking. It occupies 0.13 acres, is zoned Commercial, and was built in 1975. Public water and septic service support the site, with electric, oil, hot-water, and ductless heating systems and ductless cooling. The offering can support continued operation under the existing Joe's Mini Mart business or another related commercial concept.
Key Highlights
- 2,565 SF building on a 0.13‑acre parcel
- Operating Joe's Mini Mart business, fixtures, and inventory included
- Commercial kitchen with multiple cooking stations, ovens, prep areas, and stainless‑steel sinks
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
$33,173
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
8.30%
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%
$663,460
$663.5K
Cap Rate 7%
$473,900
$473.9K
Cap Rate 9%
$368,589
$368.6K
Market Conditions
NOI Build-Up for 2,565 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
$46.2K $18.00/SF
− Vacancy
−$1.9K −$0.76/SF
EGI
$44.2K $17.24/SF
− OpEx
−$11.1K −$4.31/SF
NOI
$33.2K $12.93/SF
Area
Warren County, NY
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$663,460
Cap Rate 7%
$473,900
Cap Rate 9%
$368,589
Alternative Uses
Best Use
Specialty Retail
$473.9K
$414.7K – $552.9K
NOI $33,173 @ 7.0% cap · market cap 8.30%
Second Best
Retail
$354.0K
$309.7K – $413.0K
NOI $24,778 @ 7.0% cap · market cap 6.20%
Theoretical Best
Office A
$767.7K
$671.8K – $895.7K
NOI $53,742 @ 7.0% cap · market cap 13.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
106
Businesses Nearby
5k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Cumberland Farms
Shops & Services
4,220 visits/mo
0.1 miles
Carquest Auto Parts # 8840
Shops & Services
830 visits/mo
0.5 miles
Demographics for 12846, NY
3,008
Population
2,338
Households
1.3
Avg Household Size
51
Median Age
26%
College-Educated
90%
High-School Grad
53.7 sq mi
ZIP Area
56
Density / Sq Mi
$47,449
Median Household Income
$41,500
Median Earnings
$942
Median Rent
$197,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Luzerne Market — 12 Main St, Lake Luzerne, NY 12846
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Commercial property with a full-service kitchen, customer parking, and infrastructure for deli, market, or food-service operations.
Where is this grocery and convenience store located?
The property is located at 96 Lake Avenue Lake Luzerne, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 2,565 SF building on a 0.13‑acre parcel; Operating Joe's Mini Mart business, fixtures, and inventory included; Commercial kitchen with multiple cooking stations, ovens, prep areas, and stainless‑steel sinks
