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    7142 State Route 21 Almond, NY 14804

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    For Sale
    $84,900

    Charming, profitable, turnkey commercial space.

    Property size:
    611 SF

    Property Features for 7142 State Route 21

    General Information

    Property type
    Other commercial real estate
    Square Feet
    611 SF
    Lot Size
    50,094 SF

    Building Details

    Year Built
    2009

    We can help!

    Listing Contact
    Kathleen Hall

    Listing Agency: Howard Hanna Listing Agent: Kathleen Hall

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This meticulously maintained single-story commercial building at 7142 State Route 21 in Almond, NY, presents a fantastic opportunity for a variety of businesses. Boasting 611 square feet of space on a 1.15-acre lot, this property offers ample parking and over 300 feet of road frontage. The building features a bright, open, and ADA-accessible retail area, ideal for customer interaction. A fully equipped 20C licensed commercial kitchen is perfect for food preparation, complemented by a convenient walk-in cooler. Additional storage is available in the attic. Exterior features include a charming covered front porch, perfect for customer seating or display, and a covered wash/prep area at the rear of the building. The property also includes a large storage shed, providing extra space for inventory or equipment. Utilities include 200-amp electric service, village water, and a well used for irrigation. Natural gas is available, along with a 1000-gallon septic system. Established gardens add to the property's curb appeal and potential for expansion. This turnkey operation is ready for its next chapter, offering a blend of charm and functionality in a desirable location. The property's previous use as an organic produce stand speaks to its suitability for similar ventures or a variety of other commercial applications.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Law Firm Building Supply Auto Repair Shop Auto Parts Store Grocery & Convenience Store Storage Facility Electrical Service (Bike/Boat/Book/etc) Store Veterinary Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Almond
    County
    Allegany
    State
    New York
    Longitude
    -77.74516
    Latitude
    42.30945

    Nearby Similar for Sale

    • $125,000

      Main Street Restaurant/Bar Opportunity

      Turnkey restaurant/bar with expansion potential on 3.45 acres.
      60 Main St, Almond, NY 14804
      View Details
    • $84,900

      Commercial Building with Kitchen

      Single-story commercial building with kitchen, cooler, and ample parking.
      7142 State Route 21, Almond, NY 14804
      View Details
    • $215,000

      Village Church with Additional Building

      Two-parcel property with church and multi-use building in Almond.
      7371 South Main St, Almond, NY 14804
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    FAQs

    What type of property is this?
    Commercial real estate - Charming, profitable, turnkey commercial space.
    Where is this commercial real estate located?
    The property is located at 7142 State Route 21 Almond, NY.
    What is the asking price?
    The asking price for this property is $84,900.
    (607) 352-5000
    Request Owner's contact information
    7142 State Route 21 Almond, NY 14804
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    Almond, NY 14804
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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
    7142 State Route 21 Almond, NY 14804
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    We can help!
    Listing Contact
    Kathleen Hall
    (607) 352-5000
    Learn more
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