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    1 Academy Drive Salisbury Center Ny, NY 13454

    View on Map
    For Sale
    $439,000

    Adirondack, Multi-Unit (5+) - Salisbury Center NY, NY

    Property size:
    50,000 SF
    Lot size:
    90.00 Acres
    Added:
    Nov 4, 2025
    Days on Market:
    148
    Last Refresh:
    Apr 1 at 9:06 am

    Property Features for 1 Academy Drive Salisbury Center

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    200
    Bedrooms
    100
    Bathrooms
    40
    Rooms
    Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Bonus Room, Den, Dining Room, Kitchen, Library, Living Room, Media Room
    Parking features
    Garage
    Basement Y/N
    1
    Appliances
    Dryer, Refrigerator
    Standard status
    Active
    APN
    103.1-1-12.1
    Size
    50,000 SF
    Lot size
    90.00 Acres

    Taxes and HOA fees

    TaxYear
    2025
    TaxAnnualAmount
    3341

    Utilities

    Heating system
    Baseboard, Natural Gas, Steam
    Water front features
    Waterfront
    Water front
    1

    Building Details

    Year built
    1920
    Year renovated
    1920
    Floors in Building
    3
    Flooring type
    Carpet, Hardwood, Laminate, Vinyl
    Building materials
    Stucco
    Roof type
    Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    K Bruce Ward

    Listing agent K Bruce Ward

    Listing office BRUCE WARD & COMPANY 876 STEUBEN HILL ROAD POB 431, HERKIMER, NY

    Listing date Nov 4, 2025

    MLS# 11601096 Listing URL

    Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Adirondack Multi-Unit Property

    This property features ninety wooded acres improved with three large buildings encompassing over 50,000 square feet. The buildings contain 10 offices, 100 bedrooms, staff apartments, meeting and classrooms, a library, labs, a cafeteria, and recreation areas. Five residential properties are also located on the premises, with conditions ranging from good to in need of repair. The site benefits from a high volume of electric and natural gas availability, as well as an unending water supply. The property has over 3700 feet of road frontage and is near Adirondack lakes, fishing streams, hiking trails, and skiing and snowmobiling areas. Potential uses include environmental education, a recreation center, church or corporate retreat, water bottling plant, brewery, or hunting club. The property is located in Salisbury Center NY, in Herkimer County.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Big Box & Wholesale Store Pet Grooming Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ny
    County
    New York
    State
    New York
    Longitude
    -74.75668
    Latitude
    43.154985

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    FAQs

    What type of property is this?
    Church & religious facility - Ninety acres with three large buildings and five residences.
    Where is this church & religious facility located?
    The property is located at 1 Academy Drive Salisbury Center Ny, NY.
    What is the asking price?
    The asking price for this property is $439,000.
    What are key features of this property?
    This property features: Over 50,000 sq ft of space across three large buildings on 90 wooded acres for $499,000.; High volume of electric and natural gas, plus an unending water supply.; Extensive facilities including 10 offices, 100 bedrooms, staff apartments, meeting rooms, library, labs, cafeteria, and recreation areas.
    (315) 866-2002
    We can help!
    Listing Contact
    K Bruce Ward
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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