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    6300 Ny-37 St Massena, NY 13662
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    6300 Ny-37 St Massena, NY 13662

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    • Retail properties & Spaces
    • 56,717 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 6300 Ny-37 St

    Property size
    56,717 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This exceptional investment opportunity presents a vacant, 56,717-square-foot free-standing storefront building, formerly occupied by a Hannaford Grocery Store, located at 6300 NY-37 street, Massena, NY 13662. Priced at $1,700,000 ($29.97 per square foot), this property offers significant potential for redevelopment or lease to a new anchor tenant. The building is situated in a high-traffic area, adjacent to established businesses such as Ollie's Bargain Outlet, BJ's Wholesale Club, and McDonald's, and in close proximity to the Massena International Airport. The location boasts a strong demographic profile, with average household incomes exceeding $70,000 within a 10-mile radius. Ample parking is available, making it ideal for a flagship store, showroom, or other large-format retail operation. The property is currently vacant, presenting a blank canvas for a new business to establish a significant presence in this thriving market. This is a net lease property with no existing tenant and zero years remaining on the lease. The building's size and location offer a compelling value proposition well below replacement costs. The property is a single-building structure and represents a unique opportunity to capitalize on the strong retail environment in Massena, New York. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Massena
    County
    St. Lawrence
    State
    New York
    Longitude
    -74.8459
    Latitude
    44.9483

    Comparable in this City

    • Value Estimation by Request
      56,717 SF

      6100 Ny-37

      Lifestyle centers • 56,717 SF
      6100 Ny-37, Massena, NY 13662
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    • Value Estimation by Request
      56,717 SF

      6100 Ny-37

      Individual retail properties • 56,717 SF
      6100 Ny-37, Massena, NY 13662
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    • Value Estimation by Request
      800 SF

      10161 State Hwy 56

      RETAIL STORES (PERSONAL SERVICES) • 800 SF
      10161 State Hwy 56, Massena, NY 13662-4409
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    • Value Estimation by Request
      7,822 SF

      426 428th S Main St

      RETAIL STORES (PERSONAL SERVICES) • 7,822 SF
      426 428th S Main St, Massena, NY 13662
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    • Value Estimation by Request
      2,100 SF

      13445 State Hwy 37

      RETAIL STORES (PERSONAL SERVICES) • 2,100 SF
      13445 State Hwy 37, Massena, NY 13662-4121
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    • Value Estimation
      $2,760,000
      14,820 SF

      303 Main St

      RETAIL STORES (PERSONAL SERVICES) • 14,820 SF
      303 Main St, Massena, NY 13662-1903
      View Details

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      Commercial Land Near Major Businesses

      Commercial property for rent near Ollie's, JCPenney, and Walmart.
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    6300 Ny-37 St
    Massena, NY 13662
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    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
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    6300 Ny-37 St, Massena, NY, 13662
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