6300 Ny-37 Massena, NY 13662
Property profile & analytics
Location Intelligence
Current Use by Public Records
- Lifestyle centers
Property Details for 6300 Ny-37
- Lot size
- 3.40 lot acres
- Property size
- 41,450 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
St. Lawrence Plaza, located at 6300 NY-37 in Massena, NY (13662), presents a compelling investment opportunity. This 41,450 square foot shopping center boasts a strong tenant roster, including Ollie's Bargain Outlet and BJ's Wholesale Club as anchors. Currently operating at 87.7% occupancy with seven tenants, the property offers immediate upside potential through leasing the remaining 12% of vacant space. The asking price is $1,199,500, translating to a price per square foot of $28.94 and a 9.00% cap rate, based on a Net Operating Income (NOI) of $107,957. The property sits on a 3.4-acre lot, providing ample parking and potential for outparcel development. The center's location adjacent to Massena International Airport offers significant visibility and accessibility. Furthermore, a former grocery store building adjacent to the center is also available for purchase, presenting an additional expansion opportunity. The current lease type is Net Lease (NN) with a multi-tenant structure and zero years remaining on the current lease terms. This property is priced well below replacement costs, estimated at $25 per square foot, making it an attractive value-add proposition for discerning investors. The property is classified as a retail shopping center, offering a strong foundation for future growth and income generation.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Massena
- County
- St. Lawrence
- State
- New York
- Longitude
- -74.8459
- Latitude
- 44.9483
