53 Ridge RdLansing, NY 14882

Property Details for 53 Ridge Rd

Year built

1980

Lot size

0.57 AC

Property size (Sq ft)

2,400 SF

Zone code

B1

Property type

Gas stations

APN

503289 31.-6-7

APU

5032893167

Description

This exceptional retail opportunity presents a 2,400-square-foot convenience store situated on a highly visible, high-traffic road in Lansing, NY. Located near Cayuga Lake, a local park, marina, schools, and ball fields, this property boasts excellent accessibility and strong community presence. The building, constructed in 1980, sits on a half-acre lot and includes 15 paved parking spaces with convenient access via two driveways. Additional parking is available at the rear and sides of the building. Inside, the space features several coolers and a deli display cooler, ready for immediate use or creative adaptation. The property's current tenant, a successful Mini Mart operating for over a decade, is considering retirement, presenting a unique chance for a new owner to take over an established business or implement fresh concepts. Zoned for mixed use, this property offers utilities including public water and natural gas. The lease is a triple net lease at $2,500 per month; business and inventory are sold separately. This is an ideal investment for entrepreneurs seeking a thriving retail location in a desirable community.

• CAP approach

  CAP return

  Valuation

  6%

  $456,821

  6.5%

  $421,681

  7%

  $391,561

• Comparable approach

  Method

  Valuation

  Relative Method

  $228,030

  Geo Method

  $326,127

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $837,192

  Mixed-Use / Specialty

  $414,168

  Hospitality / Lodging

  $296,037

  Office

  $405,447

  Institutional / Educational

  $428,419

  Residential Income

  $501,251

  Multifamily

  $634,492

  Automotive / Energy

  $367,217

  Parking / Income-Based Land

  $132,660

  Restaurant / Food Service

  $202,585

  Healthcare / Senior Housing

  $430,884

Location Insight

City

Lansing

County

Tompkins

State

New York

Latitude

42.5385

Longitude

-76.5109

CBSA code

27060

CBSA name

ITHACA, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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