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    4160 Ny-31 Clay, NY 13041
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    Property profile & analytics

    4160 Ny-31 Clay, NY 13041

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    • Power 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 4160 Ny-31

    Property type
    Power centers
    Property subtype
    Retail properties & Spaces

    Description

    Marketfair North Plaza, located at 4160 NY-31 in Clay, NY (Onondaga County), offers exceptional retail opportunities. This power center comprises four buildings and features three available spaces ranging from 1,166 sq. ft. to 21,775 sq. ft., totaling 3,183 sq. ft. of vacant space. The property boasts excellent visibility from NY-481 and benefits from its location in the fastest-growing township within the suburban metro statistical area. The proximity to a new 3.8 million square foot Amazon fulfillment center (less than 10 minutes away) and the impending arrival of over 40,000 jobs with the Micron Factory presents a significant growth opportunity for businesses. Furthermore, the property includes auto-use space with 10 bays, adding versatility for potential tenants. This prime location offers unparalleled access to a thriving and expanding market, making it an ideal investment for businesses seeking high visibility and strong growth potential. The property's strategic location and the significant economic development in the area make this a compelling opportunity for retail businesses of all sizes. The available spaces offer flexibility to accommodate a variety of retail concepts. Contact us today to learn more about this exceptional retail property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Clay
    County
    Onondaga
    State
    New York
    Longitude
    -76.2264
    Latitude
    43.1853

    Comparable in this City

    • Value Estimation
      $2,525,000
      147,396 SF

      4155 State Rte 31

      MINI-MALL • 147,396 SF
      4155 State Rte 31, Clay, NY 13041-8772
      View Details
    • Value Estimation
      $2,810,000
      115,660 SF

      4145 State Rte 31

      MINI-MALL • 115,660 SF
      4145 State Rte 31, Clay, NY 13041-8756
      View Details
    • Value Estimation
      $9,285,000
      727,525 SF

      4155 State Rte 31

      REGIONAL SHOPPING CENTER, MALL • 727,525 SF
      4155 State Rte 31, Clay, NY 13041-8772
      View Details
    • Value Estimation
      $2,020,000
      80,192 SF

      4155 State Rte 31

      MINI-MALL • 80,192 SF
      4155 State Rte 31, Clay, NY 13041-8772
      View Details
    • Value Estimation by Request
      4,640 SF

      8578 Henry Clay Blvd

      SERVICE STATION WITH FOOD MART • 4,640 SF
      8578 Henry Clay Blvd, Clay, NY 13041-9677
      View Details
    • Value Estimation by Request
      3,000 SF

      8598 Morgan Rd

      AUTO REPAIR, GARAGE • 3,000 SF
      8598 Morgan Rd, Clay, NY 13041-9665
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,606 SF

      Uncle Chubbys Bar & Pizzeria

      Sports bar and pizzeria near Micron plant in Clay, NY.
      5282 Caughdenoy Rd, Clay, NY 13041
      View Details
    • Contact for pricing
      3,473 SF

      Retail Building Near Micron Plant

      Retail service building with shop/storage on a large fenced lot.
      5280 Caughdenoy Rd, Clay, NY 13041
      View Details
    • $695,000
      13 SF

      Land Near Micron Site

      13-acre commercial land parcel near proposed Micron development.
      8894 Caughdenoy Rd, Clay, NY 13041
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      21,775 SF

      Retail Space with Highway Visibility

      Retail space available for lease with great sign and highway visibility.
      4106 State Route 31, Clay, NY 13041
      View Details
    • $21 SF/Yr

      Office/Retail Building Near Micron Site

      Office and retail spaces available near the new Micron site.
      4591 State Route 31, Clay, NY 13041
      View Details
    • Contact for pricing
      26,878 SF

      Retail Space with Highway Visibility

      Retail space available in a rapidly growing area.
      4100 State Route 31, Clay, NY 13041
      View Details
    • Contact for pricing

      Auto-Use Space with 10 Bays

      Auto-use space available near Micron factory and Amazon fulfillment center.
      4160 Ny-31, Clay, NY 13041
      View Details
    • Contact for pricing

      Land Near Great Northern Mall

      Land for rent near Great Northern Mall redevelopment project.
      4182 State Route 31, Clay, NY 13041
      View Details
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    4160 Ny-31
    Clay, NY 13041
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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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