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    Property profile & analytics

    15 Mckinley Pl Gloversville, NY 12078-1511

    • Warehouses
    • 10,368 SF
    • 0.85 lot acres
    OFF-MARKET
    Value Estimations
    $300,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-6015020
    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

    • Warehouses

    Property Details for 15 Mckinley Pl

    Year built
    1903
    Lot size
    0.85 lot acres
    Property size
    10,368 SF
    Zone code
    R1
    Property type
    Warehouses
    APN
    170500 134.14-10-4.2
    APU
    170500134141042

    Description

    This exceptional commercial property presents a unique investment opportunity in the vibrant city of Gloversville, New York. Located at 15 McKinley Place, this one-acre lot offers significant potential for a variety of commercial ventures. The property's size provides ample space for development, allowing for flexibility in design and functionality. Its strategic location within Gloversville ensures high visibility and accessibility, making it an ideal site for businesses seeking a strong presence in the community. The asking price of $49,900 represents an attractive entry point into the Gloversville commercial real estate market, offering a compelling return on investment for discerning buyers. The property's zoning classification should be verified independently to ensure compatibility with intended use. Given its size and location, this parcel is well-suited for a range of commercial developments, from small retail spaces to larger-scale projects. Serious inquiries are encouraged to explore the possibilities this exceptional property offers. The absence of existing structures on the lot provides a blank canvas for creative development, allowing for complete customization to meet specific business needs. This presents a rare chance to build a property tailored to your exact specifications, maximizing efficiency and profitability. Don't miss this chance to acquire a prime piece of commercial real estate in a thriving New York community. Further due diligence is recommended to confirm all property details and zoning regulations.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $305,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $226,000
      Market price range: $227k - $830k

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

    Location Insight

    • Map
    • Local Demand
    City
    Gloversville
    County
    Fulton
    State
    New York
    Longitude
    -74.3491
    Latitude
    43.0591
    CBSA code
    24100
    CBSA name
    GLOVERSVILLE, NY MICROPOLITAN 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
    $19,500
    $4,000
    $23,500
    -
    $25,543
    $5,240
    $30,783

    Comparable in this City

    • Value Estimation
      $355,000
      11,345 SF

      180 Main St

      WAREHOUSE, STORAGE • 11,345 SF
      180 Main St, Gloversville, NY 12078-4220
      View Details
    • Value Estimation
      $595,000
      32,720 SF

      102 Main St

      WAREHOUSE, STORAGE • 32,720 SF
      102 Main St, Gloversville, NY 12078
      View Details
    • Value Estimation
      $275,000
      6,422 SF

      141 Broad St

      WAREHOUSE, STORAGE • 6,422 SF
      141 Broad St, Gloversville, NY 12078
      View Details
    • Value Estimation
      $275,000
      4,682 SF

      Broad E St

      WAREHOUSE, STORAGE • 4,682 SF
      Broad E St, Gloversville, NY 12078
      View Details
    • Value Estimation
      $290,000
      3,864 SF

      Elmwood Ave Ssd

      WAREHOUSE, STORAGE • 3,864 SF
      Elmwood Ave Ssd, Gloversville, NY 12078
      View Details
    • Value Estimation
      $645,000
      59,088 SF

      177 Fulton St

      WAREHOUSE, STORAGE • 59,088 SF
      177 Fulton St, Gloversville, NY 12078-2748
      View Details

    Similar Nearby for Sale

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      0.34 Acres

      Gloversville Commercial Land Opportunity

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    Similar Nearby for Lease

    • $5 SF/Yr
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    • $7,800,000
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      Gloversville Manufacturing/Distribution Facility

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    • $4 SF/Yr
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    • $5 SF/Yr
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    • Contact for pricing

      Commercial Outparcel For Rent

      0.5 acre outparcel available in Family Dollar-anchored center.
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      View Details
    • Contact for pricing
      9,000 SF

      Retail Spaces Available for Rent

      Multiple retail spaces available for rent in Gloversville, NY.
      40 Church St, Gloversville, NY 12078
      View Details
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    15 Mckinley Pl
    Gloversville, NY 12078-1511
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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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