Building Details

Units 1

Listing Agency: Rooftop Realty Group, LLC

Listed By: Mark Cardone · License #NY 10991228663 Show Phone

Source: Crexi

Added: Apr 12, 2024 Changed: Oct 10 Last Checked: Oct 16 at 8:21AM

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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 Rooftop Realty Group, LLC

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

The property features a 2,275 square foot retail building situated on 1.69 acres in Phoenix. The site offers potential for redevelopment and is suitable for various business uses. It benefits from convenient highway access and substantial road frontage.

Key Highlights

• 2,275 square foot retail building
• Large 1.69 acre lot
• Located right off Highway 481

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$21,969

Cap Rate

7.35%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$439,380 $439.4K

Cap Rate 7%

$313,843 $313.8K

Cap Rate 9%

$244,100 $244.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,275 SF

Gross rent

$32.8K $14.40/SF

− Vacancy

−$1.4K −$0.60/SF

EGI

$31.4K $13.80/SF

− OpEx

−$9.4K −$4.14/SF

NOI

$22.0K $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 Rate 5%

$439,380

Cap Rate 7%

$313,843

Cap Rate 9%

$244,100

Alternative Uses

Best Use

Retail

$313.8K

$274.6K – $366.2K (±1% cap)

NOI $21,969 @ 7.0% cap · market cap 7.35%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$453.8K

$397.1K – $529.4K (±1% cap)

NOI $31,764 @ 7.0% cap · market cap 10.62%

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

Property Analytics

Current Use

Retail space

Location Intelligence

Trade Area within ½ mile

3

Businesses Nearby

Explore this area Business Placement

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

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?

Retail space - 2,275 SF retail building with redevelopment potential.

Where is this retail space located?

The property is located at 394 NY-264 Schroeppel, NY.

What is the asking price?

The asking price for this property is $299,000.

What are key features of this property?

This property features: 2,275 square foot retail building; Large 1.69 acre lot; Located right off Highway 481