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Property profile & analytics
FOR LEASE
Strip malls

622 Lake Flower Ave Saranac Lake, NY 12983

66,504 SF 6.9 ac lot Built 1969
Entity Owned 11-yr Hold Free & Clear
Property ID
US63-1974285
Property summary
AI-generated overview

This exceptional retail opportunity in Saranac Lake, NY, presents two available spaces within the 68,610 square foot Saranac Lake Shopping Center, situated on a 6.9-acre lot at 622 Lake Flower Avenue. The property is zoned 07- Mixed/Neighborhood Shopping Center in Essex County and offers a diverse tenant mix. One space, ideally suited as an anchor tenant, boasts 17,000 contiguous square feet, featuring a pre-existing grocery store layout, excellent visibility, and ample parking. A second, adjacent space of 3,200 square feet is available, offering the potential for expansion of the larger unit or independent occupancy as a complementary inline tenant. A total of 23,560 square feet is currently vacant, with a minimum divisible space of 3,200 square feet. This prime location in Saranac Lake's main retail corridor provides exceptional access to the regional community. The property's strategic positioning ensures high visibility and convenient access for customers. This is a unique chance to establish or expand a business within a thriving neighborhood shopping center.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1969
Total area 66,504 SF
Lot 6.9 ac (300,564 SF)
Zoning code 07 - MIXED
APN 154003 32.296-1-1.000
UPID US63-1974285
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
  • Dollar Tree Discount Store
  • Advance Auto Parts Auto Parts Store
  • Coakley Home and Hardware Building Supply Hardware & Home Improvement
  • UPS Access Point location Courier Service Postal Service
  • Coakley Home and Hardware Saranac Lake Building Supply Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$785k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$785k
Owner & transaction history
Magdi Sl Plaza LLC · 11 yrs held
Magdi Sl Plaza LLC
since 2015
2 recorded transactions
2015
$5.4M
2008
$5.3M
Zoning & alternative use
07 - MIXED · Saranac Lake, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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