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    FOR SALE
    Grocery and convenience stores

    587 Lake Flower Ave, Saranac Lake, NY 12983

    19,695 SF 3 ac lot Built 2018
    Entity Owned 19-yr Hold Free & Clear
    Property ID
    US63-3194119
    Property summary
    AI-generated overview

    This exceptional 0.5-acre commercial land parcel is ideally situated in Saranac Lake, New York, at 587 Lake Flower Ave, in Essex County, zip code 12983. The property boasts a prime location adjacent to the newly developed Aldi Supermarket, ensuring high visibility and accessibility for any business. This strategic placement promises a strong potential for high foot traffic, benefiting from the steady stream of customers visiting the neighboring supermarket. The land offers significant advantages for businesses seeking a thriving location within a bustling community. The asking price for this exceptional opportunity is $500,000, translating to a land value of $22.96 per square foot. Its convenient location and proximity to other commercial establishments make it an attractive investment for entrepreneurs looking to establish a successful venture in the heart of Saranac Lake's commercial landscape. This property presents a unique chance to capitalize on the area's strong commercial activity and establish a business with excellent visibility and customer access. The coordinates for this property are latitude 44.3123797 and longitude -74.1152921.

    Property profile
    Verified
    Property type Grocery and convenience stores
    Use group GROCERY, SUPERMARKET
    Year built 2018
    Total area 19,695 SF
    Lot 3 ac (130,680 SF)
    Zoning code 07 - MIXED
    APN 154003 32.280-1-2.210
    UPID US63-3194119
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • ALDI Specialty Food Shop Supermarket
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    $1.12M
    Owner & transaction history
    Aidi INC · 19 yrs held
    Aidi INC
    since 2007
    1 recorded transaction
    2007
    $1.5M
    Zoning & alternative use
    07 - MIXED · Saranac Lake, NY
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
    Top alternative use upside
    Commercial (general) $1.7M +50.6%
    Warehouse, storage $1.3M +12.8%
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    More about this property
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