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    204 Commercial Street Theresa, NY 13691

    View on Map
    For Sale
    Under Contract
    $120,000

    MULTI_FAMILY - Theresa, NY

    Property size:
    4,753 SF
    Lot size:
    0.20 Acres
    Added:
    Jul 21, 2025
    Days on Market:
    260
    Last Refresh:
    Apr 6 at 6:06 am

    Property Features for 204 Commercial Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    5
    Rooms
    Bedroom 6, Bedroom 3, Bathroom 5, Bedroom 1, Bedroom 5, Bathroom 2, Bedroom 4, Bathroom 1, Bathroom 4, Basement, Bedroom 2, Bathroom 3
    Interior features
    Attic
    Appliances
    ElectricWaterHeater
    Standard status
    Active Under Contract
    APN
    225601-023-080-0001-044-000
    Size
    4,753 SF
    Lot size
    0.20 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2351

    Utilities

    Heating system
    Baseboard, Electric (Heating)
    Water source
    Public

    Building Details

    Year built
    1900
    Floors in Building
    4
    Number of units
    4
    Flooring type
    Varies, Laminate, Vinyl, Carpet
    Building materials
    VinylSiding

    We can help!

    Listing Contact
    Beth Miller

    Listing agent Beth Miller License #10301221617

    Listing office Lake Ontario Realty, LLC 12396 NYS Route 12E, Chaumont, NY

    Listing date Jul 21, 2025

    MLS# S1621401 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.

    Overview

    Theresa, NY Four-Unit Multifamily Property

    This four-unit multifamily property is located in the Village of Theresa. The units are spacious and feature original woodwork, hardwood floors, and tall ceilings. The main level apartment benefits from large windows that provide natural light. The property includes a flat, partially fenced backyard. All but one unit are currently rented, generating $1,850 per month. Rent includes water and sewer. The property has an on-demand water heater and some new flooring. The property size is 4,753 square feet and the lot size is 0.2 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Restaurant Spa & Massage Center Hair Salon Nail Salon Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store Accounting Firm Bar & Pub Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Theresa
    County
    St. Lawrence
    State
    New York
    Longitude
    -75.797992
    Latitude
    44.215003

    Nearby Similar for Sale

    • $25,000

      Waterfront Land on Indian River

      Waterfront land perfect for a house or camp with fishing.
      33583 Broadwell Road, Theresa, NY 13691
      View Details
    • $135,000
      1,428 SF

      Former Gas Station/Convenience Store

      Located off Interstate 81, suitable for various business uses.
      24812 State Rte 411, Theresa, NY
      View Details

    FAQs

    What type of property is this?
    Quadplex - Four-unit multifamily property in Theresa, NY with immediate income potential.
    Where is this quadplex located?
    The property is located at 204 Commercial Street Theresa, NY.
    What is the asking price?
    The asking price for this property is $120,000.
    What are key features of this property?
    This property features: Income‑generating 4‑unit property with immediate rental income of $1,850/month.; Opportunity to live in the vacant unit and have your mortgage paid.; Spacious units with original woodwork, hardwood floors, and tall ceilings.
    (315) 649-3434
    We can help!
    Listing Contact
    Beth Miller
    Real Estate License ID: 10301221617
    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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