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Value-Add Shopping Center | Upstate NY 54 E Main St 85,453 SF 85% Leased Retail Building Online Auction Sale Norwich, NY 13815
Matterport 3D Tours
Investment Highlights
- Grand Union Plaza is an ideal investment opportunity in the heart of Norwich, New York’s commercial retail corridor on E Main Street.
- Value-add opportunity with a lease-up of vacant units at market rates to increase the asset’s net operating income.
- Strategically located for optimal visibility, this premier site benefits from exposure to more than 4,700 vehicles daily.
- Norwich boasts excellent demographics within 5 miles, with consumer spending exceeding $140 million annually.
Executive Summary
Grand Union Plaza offers investors an exceptional opportunity to acquire an 85,453-square-foot shopping center situated in Norwich, New York.
Located in the heart of downtown, 54 E Main Street is a well-kept neighborhood retail center anchored by a dark Grand Union Supermarket, whose lease runs through March 31, 2030—providing four years of guaranteed income while an investor secures a new replacement anchor. The center features a diverse mix of shops, service providers, and medical offices, creating steady daily traffic and a convenient destination for the surrounding community. Originally built in 1997 and renovated in 2004, the property maintains strong curb appeal and offers ample on-site parking. With approximately 9,000 square feet of leasable space still available, the asset presents a compelling value-add opportunity: bringing the vacancy to market rents can meaningfully enhance returns while strengthening the center’s long-term tenant mix.
Grand Union Plaza features excellent frontage on E Main Street, with convenient customer access from Front Street and Birdsall Street. As a key retail center in the area, this high-profile property presents an attractive opportunity for investors. It is located within walking distance of Perkins School of the Arts, the Chenango County Fairgrounds, and Norwich High School. Other notable nearby destinations include SUNY Morrisville | Norwich Campus, UHS Chenango Memorial Hospital, and Weller Park. Just one block from S Broad Street—the town's main retail corridor, seeing 15,053 vehicles daily—customers have easy access to a variety of specialty shops and local restaurants. Local businesses in the vicinity include Norwich Deli and Shop, Deja Brew, and Charlie's Diner. Grand Union Plaza is positioned in the center of it all.
This site in Norwich, New York, presents investors with the opportunity to make a meaningful contribution to a thriving small-town community. The area benefits from a stable resident population, with a majority of owner-occupied homes reflecting a strong local commitment. Norwich serves as a central hub for Chenango County, providing a primary destination for residents to fulfill their shopping needs.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Located in the heart of downtown, 54 E Main Street is a well-kept neighborhood retail center anchored by a dark Grand Union Supermarket, whose lease runs through March 31, 2030—providing four years of guaranteed income while an investor secures a new replacement anchor. The center features a diverse mix of shops, service providers, and medical offices, creating steady daily traffic and a convenient destination for the surrounding community. Originally built in 1997 and renovated in 2004, the property maintains strong curb appeal and offers ample on-site parking. With approximately 9,000 square feet of leasable space still available, the asset presents a compelling value-add opportunity: bringing the vacancy to market rents can meaningfully enhance returns while strengthening the center’s long-term tenant mix.
Grand Union Plaza features excellent frontage on E Main Street, with convenient customer access from Front Street and Birdsall Street. As a key retail center in the area, this high-profile property presents an attractive opportunity for investors. It is located within walking distance of Perkins School of the Arts, the Chenango County Fairgrounds, and Norwich High School. Other notable nearby destinations include SUNY Morrisville | Norwich Campus, UHS Chenango Memorial Hospital, and Weller Park. Just one block from S Broad Street—the town's main retail corridor, seeing 15,053 vehicles daily—customers have easy access to a variety of specialty shops and local restaurants. Local businesses in the vicinity include Norwich Deli and Shop, Deja Brew, and Charlie's Diner. Grand Union Plaza is positioned in the center of it all.
This site in Norwich, New York, presents investors with the opportunity to make a meaningful contribution to a thriving small-town community. The area benefits from a stable resident population, with a majority of owner-occupied homes reflecting a strong local commitment. Norwich serves as a central hub for Chenango County, providing a primary destination for residents to fulfill their shopping needs.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Matterport 3D Tours
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Street View
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Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Title and Insurance
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Storefront
Building Size
85,453 SF
Building Class
C
Year Built
1998
Percent Leased
85%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.24
Lot Size
8.32 AC
Opportunity Zone
Yes
Parcel Number
081100-136-570-0001-001-000-0000
Zoning
Commercial
Parking
300 Spaces (3.51 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Pylon Sign
- Signage
Walk Score®
Very Walkable (78)
Demographics
Demographics
1 mile
3 mile
5 mile
2024 Population
6,695
10,109
12,204
2020 Population
6,936
10,352
12,428
2029 Population
6,524
9,874
11,935
2024-2029 Projected Population Growth
-2.6%
-2.3%
-2.2%
Daytime Employees
6,288
9,977
10,591
Total Businesses
613
1,016
1,087
Average Household Income
$65,046
$71,221
$73,138
Median Household Income
$43,985
$51,498
$54,265
Total Consumer Spending
$67.1M
$107.7M
$133.1M
Median Age
41.4
43.5
44.0
2024 Households
2,993
4,353
5,195
Percent College Degree or Above
10%
11%
11%
Average Home Value
$125,203
$139,538
$143,953
Nearby Major Retailers
Sale Advisors
Sale Advisors
Kodi Traver, Licensed Real Estate Salesperson
Kodi Traver joined Marcus & Millichap at the end of 2019 and is affiliated with the French Retail Team, a top-producing retail team. He focuses on representing owners and developers in the disposition of commercial real estate assets in the Northeast and has built a brand as an expert in secondary & tertiary market dispositions. Mr. Traver has represented institutions, REITS, private equity funds, public companies, private companies, developers, and private investors on assets ranging in size from $5 million to $25 million. Within his first three years, he closed over 20 transactions valued at over $60 million, earning him the following awards: 2020 Marcus & Millichap Rookie of the Year, 2020 Marcus & Millichap Pace Setter, 2021 CoStar Power Broker, and 2022 Marcus & Millichap Rising Star. In his free time, Mr. Traver enjoys sailing, skiing, fishing, golfing, and spending time with his wife and children.
Joseph French, Licensed Associate Real Estate Broker
Joseph French boasts an extensive career spanning over 30 years, marked by proficiency in development, asset and property management, leasing, and investment sales. With a track record encompassing sales of more than 300 properties totaling over 25 million square feet and exceeding $5 billion in value, French has navigated various market cycles with finesse.
A respected figure in the industry, Mr. French’s insights have been featured in prominent publications such as Shopping Centers Today, GlobeSt.com, Retail Traffic, CCIM Magazine, and National Real Estate Investor. He has also graced numerous industry conferences as a featured speaker. Mr. French has received numerous awards over the years. A few of his most recent include the “Best of White Plains Award” for the 9th consecutive year in the Real Estate & Construction category, as well as being selected as one of the New York & Tri-State winners in Connect CRE’s 2024 Top Broker Awards.
French also consistently ranked among Sperry Van Ness’ Top 10 Brokers and received multiple National Achievement Awards from Marcus & Millichap highlighting his exceptional contributions. Holding the esteemed CCIM designation and real estate broker licenses in New York, New Jersey, Pennsylvania, Connecticut, and Massachusetts, French brings a wealth of expertise to his role. Before joining Marcus & Millichap, he served in key leadership positions at Sperry Van Ness and The Hutensky Group and also founded his own successful firm focusing on urban retail projects. His previous roles at renowned firms like Landau & Heyman, Brandenberg Realty, and CS Brown Associates further enrich his extensive professional background.
In March, 2020, French authored a book titled “French Lessons: Letters to my Daughters”, which combines an autobiographical portrait of a highly successful, real-estate investment adviser with advice about business and life, communicated through letters from French to his three adult daughters.
A respected figure in the industry, Mr. French’s insights have been featured in prominent publications such as Shopping Centers Today, GlobeSt.com, Retail Traffic, CCIM Magazine, and National Real Estate Investor. He has also graced numerous industry conferences as a featured speaker. Mr. French has received numerous awards over the years. A few of his most recent include the “Best of White Plains Award” for the 9th consecutive year in the Real Estate & Construction category, as well as being selected as one of the New York & Tri-State winners in Connect CRE’s 2024 Top Broker Awards.
French also consistently ranked among Sperry Van Ness’ Top 10 Brokers and received multiple National Achievement Awards from Marcus & Millichap highlighting his exceptional contributions. Holding the esteemed CCIM designation and real estate broker licenses in New York, New Jersey, Pennsylvania, Connecticut, and Massachusetts, French brings a wealth of expertise to his role. Before joining Marcus & Millichap, he served in key leadership positions at Sperry Van Ness and The Hutensky Group and also founded his own successful firm focusing on urban retail projects. His previous roles at renowned firms like Landau & Heyman, Brandenberg Realty, and CS Brown Associates further enrich his extensive professional background.
In March, 2020, French authored a book titled “French Lessons: Letters to my Daughters”, which combines an autobiographical portrait of a highly successful, real-estate investment adviser with advice about business and life, communicated through letters from French to his three adult daughters.
About the Auction Technology
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
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Auction Contact
Victoria Quade
Contact
Auctioneer License:
Ten-X, Inc. Vibhav Kapila RE Brkr 10991231490
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Videos
Matterport 3D Exterior
Matterport 3D Tours
Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Value-Add Shopping Center | Upstate NY | 54 E Main St
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