390 Smith Ridge RdSouth Salem, NY 10590

Property Details for 390 Smith Ridge Rd

Year built

1922

Lot size

2.10 AC

Property size (Sq ft)

1,399 SF

Zone code

GB

Property type

Gas stations

APN

553000 09827-024-049B

APU

55300009827024049B

Description

This exceptional owner-user opportunity presents a thriving Sunoco gas station ideally situated in South Salem, NY, at 390 Smith Ridge Rd, zip code 10590. The property boasts a convenient location on the border of Pound Ridge and New Canaan, CT, ensuring a consistent flow of customers from both local residents and commuters. The single-story, Class B building encompasses 3,078 square feet on a 2.1-acre lot. Four gas pumps facilitate efficient service, minimizing wait times. The station features three service bays equipped with modern tools for comprehensive automotive maintenance and repair services, ranging from routine oil changes to more complex repairs. This established business benefits from its proximity to major commuting routes and affluent neighboring communities, offering significant potential for increased revenue through expanded services or premium product offerings. The property's strong performance and strategic location make it an attractive investment for an owner-operator seeking a well-established and profitable business. This is a single-tenancy operation. The property is classified as retail.

• CAP approach

  CAP return

  Valuation

  6%

  $340,006

  6.5%

  $313,852

  7%

  $291,434

• Comparable approach

  Method

  Valuation

  Relative Method

  $460,639

  Geo Method

  $460,639

• Alternative Use

  Use

  Valuation

  Residential

  $264,746

  Hospitality

  $242,505

  Educational

  $201,762

  Medical

  $208,701

  Retail

  $313,852

Location Insight

City

South Salem

County

Westchester

State

New York

Latitude

41.2121

Longitude

-73.5168

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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