Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    296 Morris Rd Schenectady, NY 12303-3418

    • Office buildings
    • 10,082 SF
    • 4.13 lot acres
    OFF-MARKET
    Last Sale
    Sep 01, 2021
    $500,000
    Value Estimations
    $600,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-4032736
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • CrossFit Schenectady / Personal Trainer / Physical Fitness Program
    • Alternative Self Storage Facilities, LLC / Contractor / Storage Facility
    • The Backyard Barber Landscaping LLC / Landscape Designer
    • Skin + Beauty By Melissa / Waxing Hair Removal Service / Eyebrow Bar
    • Then & There Services / Pressure Washing Service / Gutter Cleaning Service

    Property Details for 296 Morris Rd

    Year built
    1989
    Lot size
    4.13 lot acres
    Property size
    10,082 SF
    Zone code
    15
    Property type
    Office buildings
    APN
    012689 16.3-1-25.1
    APU
    126891631251

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $595,000
      ML approach
      $410,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $628,000
      Market price range: $192k - $798k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Schenectady
    County
    Albany
    State
    New York
    Longitude
    -73.9024
    Latitude
    42.7433
    CBSA code
    10580
    CBSA name
    ALBANY-SCHENECTADY-TROY, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $119,000
    $1,081,000
    $1,200,000
    -
    $233,329
    $2,119,571
    $2,352,900

    Comparable in this City

    • Value Estimation
      $245,000
      876 SF

      1955 Curry Rd

      PROFESSIONAL BUILDING • 876 SF
      1955 Curry Rd, Schenectady, NY 12303-3901
      View Details
    • Value Estimation
      $255,000
      3,072 SF

      1145 Catalyn St

      OFFICE BUILDING • 3,072 SF
      1145 Catalyn St, Schenectady, NY 12303-1836
      View Details
    • Value Estimation
      $210,000
      12,120 SF

      2932 Curry Rd

      OFFICE BUILDING • 12,120 SF
      2932 Curry Rd, Schenectady, NY 12303-2825
      View Details
    • Value Estimation
      $250,000
      1,124 SF

      1221 Altamont Ave

      OFFICE BUILDING • 1,124 SF
      1221 Altamont Ave, Schenectady, NY 12303-2908
      View Details
    • Value Estimation
      $260,000
      3,264 SF

      15 Angers Ave

      OFFICE BUILDING • 3,264 SF
      15 Angers Ave, Schenectady, NY 12303-3843
      View Details
    • Value Estimation
      $315,000
      16,038 SF

      1241 Kings Rd

      OFFICE BUILDING • 16,038 SF
      1241 Kings Rd, Schenectady, NY 12303-2811
      View Details

    Similar Nearby for Sale

    • $325,000
      3,150 SF

      Office/Retail Building Near Market 32

      3,150 SF office/retail building in Schenectady, NY for sale.
      1660 Tower St, Schenectady, NY 12303
      View Details
    • $675,000
      13,440 SF

      Turnkey Warehouse with Office Space

      13,440 SF warehouse with 4,440 SF of office space.
      1105 Catalyn St, Schenectady, NY 12303
      View Details
    • $264,900
      3,072 SF

      Mixed-Use Property Near Downtown Schenectady

      Mixed-use property with office space and apartment near downtown.
      1145 Catalyn St, Schenectady, NY 12303
      View Details
    • $285,000

      Schenectady Multifamily Property for Sale

      Multifamily property available in Schenectady, New York.
      813 Francis Ave, Schenectady, NY 12303
      View Details
    • New
      $240,000
      1,518 SF

      Renovated Duplex in Schenectady, NY

      Renovated Schenectady duplex with new roof, utilities, and modern finishes.
      1331 Hodgson St, Schenectady, NY 12303
      View Details
    • $365,000
      2,880 SF

      Mixed-Use Property on High Traffic Avenue

      Prime mixed-use property with storefront and residential apartment.
      351 Altamont Ave, Schenectady, NY 12303
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      9,689 SF

      Hamburg Street Retail/Office Space

      Retail or office space available in neighborhood plaza on Hamburg Street.
      2727 Hamburg St, Rotterdam, NY 12303
      View Details
    • $1,000 /Mo
      7,405 SF

      Commercial Space on Hamburg Street

      Versatile commercial space with excellent visibility and ample parking.
      2557 Hamburg St, Schenectady, NY 12303
      View Details
    • $15 SF/Yr
      92,440 SF

      Market 32 Anchored Shopping Center

      High-traffic Rotterdam retail space.
      1879 Altamont Ave, Schenectady, NY 12303
      View Details
    • Contact for pricing
      2,094 SF

      Retail Space in Schenectady Plaza

      Retail spaces available in plaza with national tenant mix.
      1400 Altamont Ave, Schenectady, NY 12303
      View Details
    • Contact for pricing
      1,750 SF

      Built-Out Hair Salon Available

      Fully built-out hair salon with excellent visibility and ample parking.
      3770 Carman Rd, Schenectady, NY 12303
      View Details
    • $9 SF/Yr
      10,812 SF

      Warehouse Space with Enclosed Storage

      Clean warehouse with enclosed storage and fenced yard near railway.
      138 Morris Rd, Schenectady, NY 12303
      View Details
    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.
    296 Morris Rd
    Schenectady, NY 12303-3418
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.