1222 Arsenal StWatertown, NY 13601

Property Details for 1222 Arsenal St

Year built

1972

Lot size

6.11 AC

Property size (Sq ft)

12,312 SF

Zone code

C

Property type

Retail properties

Property subtype

Strip malls

APN

221800 8-53-125.000

APU

221800853125000

Description

Stateway Plaza presents a prime retail investment opportunity in Jefferson County. This established shopping center boasts 231,650 square feet of total building space, currently featuring four suites. A significant 26,350 square feet is currently vacant, offering flexible lease options ranging from a minimum of 1,700 square feet to a maximum contiguous space of 20,000 square feet. The property enjoys a highly visible location with convenient access to I-81, a major thoroughfare ensuring high traffic counts and excellent visibility. Prominent pylon signage is available, further enhancing marketing potential. This location is situated within Watertown's largest retail corridor, benefiting from proximity to major retailers such as Salmon Run Mall, Starbucks, Planet Fitness, Ollie's Bargain Outlet, and a Holiday Inn Express. The center's strategic position serves a substantial customer base, including residents of Fort Drum, tourists visiting Alexander Bay, and those traveling to the Adirondacks. This presents a unique chance to establish or expand a retail presence in a thriving commercial area with strong existing tenant occupancy and significant potential for growth. The available spaces are in excellent condition and ready for immediate occupancy. The property's size and location make it an ideal choice for a variety of retail businesses seeking high visibility and convenient access to a large customer base.

• CAP approach

  CAP return

  Valuation

  6%

  $2,922,627

  6.5%

  $2,697,810

  7%

  $2,505,109

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,834,501

  Geo Method

  $4,053,888

• Alternative Use

  Use

  Valuation

  Residential

  $2,275,704

  Hospitality

  $2,084,532

  Educational

  $1,734,306

  Medical

  $1,793,952

  Retail

  $2,697,810

Location Insight

City

Watertown

County

Jefferson

State

New York

Latitude

43.982

Longitude

-75.9443

CBSA code

48060

CBSA name

WATERTOWN-FORT DRUM, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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