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    6195 Ny-31 Cicero, NY 13039

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    6195 Ny-31 Cicero, NY 13039

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    • Shopping centers
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 6195 Ny-31

    Property type
    Shopping centers
    Property subtype
    Lifestyle centers

    Description

    This exceptional retail space, located within the vibrant Lakeshore Heights Plaza in Cicero, NY (zip code 13039), offers a fantastic opportunity for businesses seeking high visibility and convenient access. Situated at 6195 NY-31, this single-tenant space boasts a flexible layout ranging from 1,200 to 1,500 square feet, ideal for a variety of uses, including retail or office space. The property is part of a thriving shopping center, anchored by a diverse mix of established businesses, ensuring high foot traffic and brand recognition. The plaza provides ample parking for customers and employees, enhancing convenience and accessibility. The space is strategically positioned between Jay's Jewelry and a Nail Salon, as shown in the provided site plan. Its location in Onondaga County, New York, offers easy access for customers throughout the region. This is a rare opportunity to establish or expand your business in a prime retail location with excellent visibility and a strong tenant mix. The space's versatility allows for customization to suit various business needs, making it an attractive option for a wide range of enterprises. Don't miss this chance to secure a prominent position in a successful shopping center.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Cicero
    County
    Onondaga
    State
    New York
    Longitude
    -76.092
    Latitude
    43.1778

    Comparable in this City

    • Value Estimation
      $1,115,000
      24,184 SF

      7800-7802 Brewerton Rd

      MINI-MALL • 24,184 SF
      7800-7802 Brewerton Rd, Cicero, NY 13039
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    • Value Estimation
      $745,000
      20,335 SF

      7933 Brewerton Rd

      MINI-MALL • 20,335 SF
      7933 Brewerton Rd, Cicero, NY 13039-9530
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    • Value Estimation
      $3,805,000
      141,472 SF

      5701 Cir Dr

      MINI-MALL • 141,472 SF
      5701 Cir Dr, Cicero, NY 13039-8638
      View Details
    • Value Estimation
      $9,870,000
      203,345 SF

      8064 Brewerton Rd

      MINI-MALL • 203,345 SF
      8064 Brewerton Rd, Cicero, NY 13039-9584
      View Details
    • Value Estimation
      $2,915,000
      103,005 SF

      7922 Brewerton Rd

      MINI-MALL • 103,005 SF
      7922 Brewerton Rd, Cicero, NY 13039-9538
      View Details
    • Value Estimation
      $2,110,000
      66,538 SF

      5864 Carmenica Dr

      MINI-MALL • 66,538 SF
      5864 Carmenica Dr, Cicero, NY 13039-8533
      View Details

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    Cicero, NY 13039
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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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    6195 Ny-31, Cicero, NY, 13039

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