Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1147 Erie Blvd Rome, NY 13440

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $900,000

    Three commercial properties totaling 1.5 acres with road frontage.

    Lot size:
    4.45 Acres

    Property Features for 1147 Erie Blvd

    General Information

    Lot size
    4.45 Acres

    Building Details

    Year built
    1950

    We can help!

    Listing Contact
    Fred F. Macchia
    Source: Elliman

    Listing Agent: Fred F. Macchia

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

    Learn more

    Property Insight Report

    Overview

    Prime Commercial Properties For Sale

    Three commercial properties are available for purchase as a combined offering. The properties, which include four individual buildings, total 1.5 acres and feature a combined road frontage of 250 feet. The location is directly across from a McDonald's restaurant and situated between a Dunkin Donuts and a Pizza Hut. The zoning allows for a variety of commercial uses and provides ample parking.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Rome
    County
    Oneida
    State
    New York
    Longitude
    -75.4855238
    Latitude
    43.2239289

    Nearby Similar for Sale

    • $174,900
      2,064 SF

      Mixed-Use Property with Commercial Space

      Versatile property with commercial space and residential apartment.
      624 Black River Blvd N, Rome, NY 13440
      View Details
    • New
      $319,900
      1,204 SF

      Established Restaurant Opportunity on Route 26

      Well-established ice cream shop/restaurant on a high-visibility, heavily trafficked location.
      8200 Turin Rd, Rome, NY 13440
      View Details
    • $319,900
      1,204 SF

      Established Restaurant Opportunity on Route 26

      Well-established ice cream shop/restaurant with high visibility and loyal customer base.
      8200 Turin Rd, Rome, NY 13440
      View Details
    • $179,900
      Pending

      Spacious Duplex with Fenced Yard

      Two-unit property with over 3000 sq ft and large yard.
      315 Lawrence St, Rome, NY 13440
      View Details
    • $284,900
      2,870 SF

      Rome, NY Multifamily Property

      Multifamily property in Rome, NY with 2870 square feet.
      821 Floyd Ave, Rome, NY 13440
      View Details
    • $159,900
      2,123 SF

      Turn-Key Salon in Downtown Rome

      Restored commercial space ideal for salon owners and entrepreneurs.
      210 N George St, Rome, NY 13440
      View Details
    • $190,000
      3,094 SF

      Three-Unit Multifamily Building in Rome

      Three-unit multifamily property, ideal for investors or portfolio building.
      126 Turin St, Rome, NY 13440
      View Details
    • $144,900
      2,080 SF

      Rome, NY Two-Family Investment Property

      Well-maintained two-family property with strong rental potential and separate utilities.
      406 S George St, Rome, NY 13440
      View Details
    • $179,900
      1,704 SF

      Updated Duplex with Separate Utilities

      Two-family duplex with updates, separate utilities, and investment potential.
      309-11 Sam St, Rome, NY 13440
      View Details
    • $120,500
      1,635 SF

      Two-Unit Property in Rome, NY

      Two-unit property with short-term and long-term rental income.
      103 Spadafora Ave, Rome, NY 13440
      View Details
    • $119,900
      1,561 SF

      Two-Unit Multifamily on Triple Lot

      Two-unit multifamily property on a large lot with detached garage.
      709 S James St, Rome, NY 13440
      View Details
    • $139,900
      2,084 SF

      Remodeled Two-Family Home

      Updated two-family home with three bedrooms in each apartment.
      302-304-306 Sourth George St, Rome, NY 12440
      View Details

    FAQs

    What type of property is this?
    Commercial land - Three commercial properties totaling 1.5 acres with road frontage.
    Where is this commercial land located?
    The property is located at 1147 Erie Blvd Rome, NY.
    What is the asking price?
    The asking price for this property is $900,000.
    What are key features of this property?
    This property features: - 1.5 acres of land; - 250 combined road frontage; - Zoned for any commercial scheme
    (315) 292-0373
    Request Owner's contact information
    1147 Erie Blvd Rome, NY 13440
    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.
    1147 Erie Blvd
    Rome, NY 13440
    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
    1147 Erie Blvd Rome, NY 13440
    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

    We can help!
    Listing Contact
    Fred F. Macchia
    Real Estate License ID: 10491207620
    (315) 292-0373
    Learn more
    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.