357 Cornelia StPlattsburgh, NY 12901

Property Details for 357 Cornelia St

Year built

1999

Lot size

2.51 AC

Property size (Sq ft)

11,565 SF

Zone code

12

Property type

Retail space

APN

091300 207.17-2-2.1

APU

9130020717221

Description

This exceptional investment opportunity presents a 10,908 square foot retail property in Plattsburgh, NY, currently subleased to Family Dollar, a credit-rated tenant. Located at 357 Cornelia Street (31,300 vehicles per day), this property boasts a strong 100% occupancy rate and a substantial net operating income (NOI) of $305,479, yielding a compelling 15.27% cap rate. The asking price is $2,000,000, translating to $183.35 per square foot. The lease is a triple-net (NNN) agreement with a remaining term of approximately 3.7 years, expiring August 9, 2028. This strategically located property benefits from high visibility in a dense retail corridor, surrounded by major national retailers including Lowe's, Walmart, Sam's Club, ALDI, and Dick's Sporting Goods. The property serves a substantial population base, with over 34,306 people residing within a five-mile radius. This presents a rare chance to acquire a stable, high-performing retail investment with a strong tenant and significant upside potential. The property is classified as a pharmacy/drug store and dollar store.

• CAP approach

  CAP return

  Valuation

  6%

  $4,223,200

  6.5%

  $3,898,338

  7%

  $3,619,886

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,833,525

  Geo Method

  $3,807,929

• Alternative Use

  Use

  Valuation

  Residential

  $3,288,394

  Hospitality

  $3,012,152

  Educational

  $2,506,075

  Medical

  $2,592,262

  Retail

  $3,898,338

Location Insight

City

Plattsburgh

County

Clinton

State

New York

Latitude

44.6964

Longitude

-73.4823

CBSA code

38460

CBSA name

PLATTSBURGH, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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