Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Watertown Triplex on Large Lot Title is generated by Realmo AI

    1011 Gotham Street, Watertown, NY 13601

    View on Map
    Claim this Listing
    For Sale
    $284,000

    MULTI_FAMILY - Watertown, NY

    Property size:
    2,595 SF
    Lot size:
    0.93 Acres
    Price / SF:
    $109/SF
    Added:
    Nov 9, 2025
    Days on Market:
    202
    Last Refresh:
    May 30 at 10:06 pm

    Property Features for 1011 Gotham Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    7
    Bathrooms
    3
    Rooms
    Bedroom 6, Bedroom 2, Bedroom 5, Bedroom 4, Bathroom 3, Bathroom 1, Bedroom 7, Bedroom 1, Basement, Bathroom 2, Bedroom 3
    Interior features
    CathedralCeilings, NaturalWoodwork
    Exterior features
    PrivateYard
    Appliances
    GasWaterHeater
    Standard status
    Active
    APN
    221800-013-000-0002-322-000-0000
    Size
    2,595 SF
    Lot size
    0.93 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3393

    Utilities

    Heating system
    Natural Gas, Forced Air
    Water source
    Public

    Building Details

    Year built
    1850
    Floors in Building
    2
    Number of units
    3
    Flooring type
    Vinyl, Varies, Hardwood, Carpet
    Building materials
    Frame, Stone, VinylSiding
    Roof type
    Shingle

    We can help!

    Listing Contact
    Aaron Naklick

    Listing agent Aaron Naklick License #10401373314

    Listing office Berkshire Hathaway HomeServices CNY Realty Watn 10412 US Route 11, Suite 1, Liverpool, NY

    Listing date Nov 9, 2025

    MLS# S1650017 Listing URL

    Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Large one‑acre lot within city limits offers ample outdoor space and development potential.
    • Triplex with two vacant units provides immediate income potential or owner‑occupancy opportunity.
    • Desirable Watertown location near downtown, schools, shopping, and parks.
    • Three spacious units: two 2‑bedroom, 1‑bath and one 3‑bedroom, 1‑bath.
    • Solid structure and well‑maintained property.
    • Strong rental demand area.

    Overview

    This well-maintained triplex is located in a desirable Watertown neighborhood. The property features three units: two 2-bedroom, 1-bath apartments and one 3-bedroom, 1-bath unit, each with comfortable layouts and abundant natural light. Situated on a 0.93-acre lot within the city limits, the property offers ample outdoor space. The location provides convenient access to downtown, schools, shopping, and parks. Two of the front units are currently vacant. The property size is 2595 square feet. This property presents a combination of space, location, and investment potential and is located at 1011 Gotham Street, Watertown, NY 13601. The property offers potential for tenant enjoyment, parking expansion, or future development possibilities. The property is located in Jefferson County.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $32.7k $12.60
    − Vacancy −$2.2k −$0.84
    EGI $30.5k $11.76
    − OpEx −$9.2k −$3.53
    NOI $21.4k $8.23
    2,595 SF · lease $12.60/SF/yr · vacancy 6.65% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $305.2K
    $267.1K – $356.1K (±1% cap)
    NOI $21,366 @ 7.0% cap · market cap 7.52%
    Second Best
    Apartment 5plus
    $273.1K
    $238.9K – $318.6K (±1% cap)
    NOI $19,114 @ 7.0% cap · market cap 6.73%
    Theoretical Best
    Office A
    $715.3K
    $625.9K – $834.6K (±1% cap)
    NOI $50,073 @ 7.0% cap · market cap 17.63%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Watertown
    County
    Jefferson
    State
    New York
    Longitude
    -75.902798
    Latitude
    43.962437

    Nearby Similar for Sale

    • $400,000
      3,116 SF

      Mixed-Use Property: Office and Residence

      Versatile mixed-use property with office space and residential apartment.
      1201 Washington Street, Watertown, NY 13601
      View Details
    • $160,000
      1,490 SF

      Versatile Mixed-Use Commercial Building

      Adaptable commercial building near Fort Drum with flexible layout.
      1450 Huntington Street, Watertown, NY 13601
      View Details
    • $230,000
      1,958 SF

      Updated Triplex in Watertown Heart

      Well-maintained 3-unit triplex with income potential in Watertown.
      522 Cross Street, Watertown, NY 13601
      View Details
    • $125,000
      2,064 SF

      Watertown Two-Unit Property For Sale

      Two-unit property with value-add potential near shopping and Fort Drum.
      111 N Orchard Street, Watertown, NY 13601
      View Details
    • $180,000
      1,382 SF

      Watertown Duplex with Garage Space

      Well-maintained duplex with strong rental income and desirable features.
      537 Cross Street, Watertown, NY 13601
      View Details
    • $249,900
      2,734 SF

      Updated Duplex in Watertown

      Well-maintained duplex with modern updates, ideal for owner-occupancy or investment.
      828 Boyd Street, Watertown, NY 13601
      View Details
    • $229,900
      4,969 SF

      Watertown Multifamily Investment Opportunity

      Four-unit building with additional house to finish.
      317 Clay Street, Watertown, NY 13601
      View Details
    • $199,900
      4,458 SF

      Spacious Duplex in Watertown, NY

      Well-maintained duplex with strong income potential near Thompson Park.
      208-210 S Indiana Avenue, Watertown, NY 13601
      View Details
    • $190,000
      3,057 SF

      Watertown Duplex: Investment Opportunity

      Spacious Watertown duplex with immediate income potential.
      135 S Orchard Street, Watertown, NY 13601
      View Details
    • $119,000
      2,684 SF

      Watertown Triplex Investment Opportunity

      Three-unit triplex in Watertown, NY, with steady cash flow.
      132 William Street, Watertown, NY 13601
      View Details
    • $199,900
      2,198 SF

      Watertown Duplex: Investment Opportunity

      Well-maintained duplex with separate utilities, ideal for investment or owner-occupancy.
      206 S Hamilton Street, Watertown, NY 13601
      View Details
    • $125,000
      2,310 SF

      Watertown Duplex on Corner Lot

      Two-unit property near Fort Drum, ideal for investors/owner-occupants.
      340-342 N Rutland Street, Watertown, NY 13601
      View Details

    FAQs

    What type of property is this?
    Triplex - Well-maintained triplex with income potential in desirable Watertown neighborhood.
    Where is this triplex located?
    The property is located at 1011 Gotham Street Watertown, NY.
    What is the asking price?
    The asking price for this property is $284,000.
    What are key features of this property?
    This property features: Large one‑acre lot within city limits offers ample outdoor space and development potential.; Triplex with two vacant units provides immediate income potential or owner‑occupancy opportunity.; Desirable Watertown location near downtown, schools, shopping, and parks.
    (315) 778-1717
    We can help!
    Listing Contact
    Aaron Naklick
    Real Estate License ID: 10401373314
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1011 Gotham Street, Watertown, NY 13601
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!