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    222 Water Street Elizabethtown, NY 12932

    View on Map
    For Sale
    $145,000

    COMMERCIAL - Elizabethtown, NY

    Property size:
    1,272 SF
    Lot size:
    0.59 Acres
    Added:
    Jun 26, 2024
    Days on Market:
    649
    Last Refresh:
    Apr 5 at 2:06 pm

    Property Features for 222 Water Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    Commercial
    Parking features
    Garage, Off Street, Parking Lot
    Interior features
    High Speed Internet, Open Floorplan, Storage
    Exterior features
    Storage
    Standard status
    Active
    APN
    55.84-3-14.100
    Size
    1,272 SF
    Lot size
    0.59 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3285

    Utilities

    Sewer type
    Septic Tank
    Heating system
    Kerosene
    Water source
    Public
    Water front features
    Waterfront, Stream, River Front
    Water front
    1

    Building Details

    Year built
    1935
    Floors in Building
    1
    Number of units
    2
    Flooring type
    Carpet, Linoleum
    Building materials
    Asbestos
    Roof type
    Metal
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Bruce Arthur Pushee

    Listing agent Bruce Arthur Pushee

    Listing office Old Mill Realty 8214 River St PO Box 173, Elizabethtown, NY

    Listing date Jun 26, 2024

    MLS# 202226

    Copyright © 2026 Adirondack Champlain Valley 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

    Commercial Property on Corner Lot

    This commercial property is situated on a busy corner lot at the intersection of Route 9N, Route 9, and Water Street, offering significant exposure for a business. The property includes two units, presenting the option to continue renting them or convert them into efficiency apartments, which would require the addition of kitchens. Each unit has a bathroom. Off-street parking is available. The property has ninety feet of frontage on the West Branch of the Boquet River. New Monitor Heaters and a fuel tank were installed in 2023. The property is within walking distance of all amenities in Elizabethtown. The lot size is 0.59 acres and the property size is 1272 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Essex County Advocate ... Child Welfare Organization G & G Abstracts Title Company

    Suggested Use

    Real Estate Agency Restaurant Hair Salon Big Box & Wholesale Store Spa & Massage Center Law Firm Dental Office Nail Salon Pharmacy Food Market

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

    Location Insight

    • Map
    • Local Demand
    City
    Elizabethtown
    County
    Essex
    State
    New York
    Longitude
    -73.591098
    Latitude
    44.216332

    FAQs

    What type of property is this?
    Mixed-use property - Commercial property with high exposure and rental income potential.
    Where is this mixed-use property located?
    The property is located at 222 Water Street Elizabethtown, NY.
    What is the asking price?
    The asking price for this property is $145,000.
    What are key features of this property?
    This property features: High‑exposure corner lot on Route 9N, 9, and Water Street, ideal for business.; Option to rent both units or convert into efficiency apartments.; Off‑street parking available.
    (518) 873-6400
    We can help!
    Listing Contact
    Bruce Arthur Pushee
    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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