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
    Property profile & analytics

    5394 State Rte 23 Windham, NY 12496

    • Showrooms
    • 5,456 SF
    • 0.10 lot acres
    OFF-MARKET
    Value Estimations
    $285,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3004239
    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

    • Showrooms

    Property Details for 5394 State Rte 23

    Year built
    1960
    Lot size
    0.10 lot acres
    Property size
    5,456 SF
    Zone code
    01 - NOT ZONED
    Property type
    Showrooms
    APN
    194600 78.18-1-12
    APU
    1946007818112

    Description

    This meticulously renovated, 5,456 sq ft mixed-use property in Windham, NY, presents a unique investment opportunity. Located on the main street, minutes from the Windham Mountain Club, this circa 1899 building boasts four fully renovated units, each offering modern amenities while retaining historical charm. The expansive upper unit, once a vaudeville house and movie theater, features a 16x9 foot entertainment screen, a chef's kitchen with a bar and wine cooler, a restored 15-foot pressed tin ceiling, and refinished original maple and fir floors. This unit includes two bedrooms and one bath. A second upper-level unit, with its own exterior entry, offers two bedrooms and one bath. The main level includes two additional units: one with three bedrooms and one bath, and another with two bedrooms and two baths, featuring a golf simulator and entertainment area. Mountain views are visible from several locations. All units are income-producing, offering immediate returns. This turnkey property combines historical significance with modern upgrades, ensuring both tenant satisfaction and strong investment potential in a vibrant village setting. The 0.1-acre lot provides convenient access to local attractions, restaurants, shops, and outdoor recreation.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Windham
    County
    Greene
    State
    New York
    Longitude
    -74.2529
    Latitude
    42.3074

    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
    $17,000
    $357,800
    $374,800
    -
    $26,154
    $550,461
    $576,615

    Comparable in this City

    • Value Estimation
      $270,000
      4,032 SF

      49 State Rte 296

      FINANCIAL BUILDING • 4,032 SF
      49 State Rte 296, Windham, NY 12496
      View Details
    • Value Estimation by Request
      7,635 SF

      5344 Ny-23

      Restaurants • 7,635 SF
      5344 Ny-23, Windham, NY 12496
      View Details
    • Value Estimation
      $295,000
      3,575 SF

      363 State Rte 296

      GYM, HEALTH SPA • 3,575 SF
      363 State Rte 296, Windham, NY 12496
      View Details
    • Value Estimation
      $280,000
      3,104 SF

      5387 State Rte 23

      FINANCIAL BUILDING • 3,104 SF
      5387 State Rte 23, Windham, NY 12496
      View Details
    • Value Estimation
      $300,000
      0.14 Acres

      Brainard Rdg Rd

      PARKING LOT • 0.14 Acres
      Brainard Rdg Rd, Windham, NY 12496
      View Details
    • Value Estimation
      $260,000
      3,494 SF

      7 Rte 79

      SERVICE STATION WITH FOOD MART • 3,494 SF
      7 Rte 79, Windham, NY 12496
      View Details

    Similar Nearby for Sale

    • $850,000
      3,700 SF

      Windham Multi-Use Victorian Property

      Rare multi-use property in the heart of Windham, New York.
      5320 Rte 23, Windham, NY 12496
      View Details
    • $698,000
      Pending

      Hensonvonville Building and Lot

      Building and lot for sale in Hensonvonville, New York.
      49 Rte, Windham, NY 12496
      View Details
    • $1,125,000
      5,300 SF

      Thriving Restaurant and Apartments

      Profitable restaurant with two apartments in Windham, NY.
      5335 State Route 23, Windham, NY 12496
      View Details
    • $2,500,000
      10,994 SF

      Profitable Restaurant & Steakhouse Investment

      Turnkey restaurant with multiple income streams in the Catskills.
      5658 2 & 3, Windham, NY 12496
      View Details
    • $335,000
      15.67 Acres

      Approved Residential Lot with Views

      Shovel-ready 15.67 acre lot near Windham Mountain.
      10 Galway Rd, Windham, NY 12496
      View Details
    • $89,000
      3.70 Acres

      Land Near Windham Mountain Resort

      3.7-acre parcel near Windham Mountain Resort, ideal for custom home.
      Larsen Dr, Windham, NY 12496
      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.
    5394 State Rte 23
    Windham, NY 12496
    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.