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

    507 Factory St Watertown, NY 13601

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $75,000

    Large commercial building in downtown Watertown with redevelopment potential.

    Lot size:
    0.33 Acres

    Property Features for 507 Factory St

    General Information

    Lot size
    0.33 Acres

    Building Details

    Year built
    1950

    We can help!

    Listing Contact
    Noah Taylor
    Source: Elliman

    Listing Agent: Noah Taylor

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

    Learn more

    Overview

    Watertown Commercial Building For Sale

    This commercial building, formerly a firehouse and later a business, is located in downtown Watertown. The property features 6,360 sq. ft. of interior space and is situated on a high-traffic street, offering excellent visibility. The building requires rehabilitation but presents redevelopment or repurposing potential for investors due to its size, location, and historic character.
    Location Intelligence

    Current Use by Public Records

    Griff's Bottle & Can ... Bottle & Can Redemption Center Old Factory Street ... Historical Landmark

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Watertown
    County
    Jefferson
    State
    New York
    Longitude
    -75.9014518
    Latitude
    43.9773258

    Nearby Similar for Sale

    • $629,000
      6,880 SF

      Watertown Multifamily Income Opportunity

      Eleven-unit multifamily property in Watertown, NY, with strong income potential.
      138 W Main St, Watertown, NY 13601
      View Details
    • $320,000
      2,595 SF

      Watertown Triplex on Large Lot

      Well-maintained triplex with income potential in a desirable location.
      1011 Gotham St, Watertown, NY 13601
      View Details
    • $230,000
      2,350 SF

      Watertown Duplex: Income Potential

      Fully rented duplex in Watertown, NY with recent renovations.
      304 Mullin St, Watertown, NY 13601
      View Details
    • $129,900
      1,594 SF

      Watertown Two-Unit Home with Garage

      Well-maintained 2-unit home with garage and additional lots.
      148 E Division St, Watertown, NY 13601
      View Details
    • $230,000
      2,220 SF

      Watertown Two-Unit Multifamily Property

      Two-unit property with renovated apartments and separate utilities.
      512 Hamlin St, Watertown, NY 13601
      View Details
    • $450,000
      5,344 SF

      Historic Downtown Watertown Commercial Property

      Historic commercial property in downtown Watertown with high visibility and foot traffic.
      18-24 Public Sq, Watertown, NY 13601
      View Details
    • New
      $150,000
      1,930 SF

      Four-Unit Apartment Building Investment Opportunity

      Fully rented four-unit building near Watertown's Public Square.
      660 Factory St, Watertown, NY 13601
      View Details
    • $123,500
      1,276 SF

      Watertown Two-Unit Vacant Property

      Vacant two-unit property, centrally located, good investment opportunity.
      127 High St, Watertown, NY 13601
      View Details
    • $229,900
      4,969 SF

      Watertown Investment Opportunity: Multi-Unit Building

      Renovated four-unit building with additional house to finish.
      317 Clay St, Watertown, NY 13601
      View Details
    • $87,500
      1,734 SF

      Watertown Duplex Investment Opportunity

      Duplex in Watertown, great investment potential, priced to sell.
      682 Bronson St, Watertown, NY 13601
      View Details
    • $399,900
      8,509 SF

      Watertown Multifamily Investment Opportunity

      Charming 6-unit apartment building on a spacious 0.80-acre lot.
      264 S Massey St, Watertown, NY 13601
      View Details
    • $119,000
      2,684 SF

      Watertown Triplex Investment Opportunity

      Three-unit triplex in Watertown, NY, with steady cash flow.
      132 William St, Watertown, NY 13601
      View Details

    FAQs

    What type of property is this?
    Storefront property - Large commercial building in downtown Watertown with redevelopment potential.
    Where is this storefront property located?
    The property is located at 507 Factory St Watertown, NY.
    What is the asking price?
    The asking price for this property is $75,000.
    What are key features of this property?
    This property features: - Large 6,360 sq. ft. interior space.; - Prime downtown Watertown location.; - High-traffic street with excellent visibility.
    (315) 778-6473
    Request Owner's contact information
    507 Factory St Watertown, NY 13601
    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.
    507 Factory St
    Watertown, NY 13601
    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
    507 Factory St Watertown, NY 13601
    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
    Noah Taylor
    Real Estate License ID: 10401359495
    (315) 778-6473
    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.