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

    707 Varick St Utica, NY 13502

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $99,900

    Property on Varick Street with vacant lot included.

    Lot size:
    0.07 Acres

    Property Features for 707 Varick St

    General Information

    Lot size
    0.07 Acres

    Building Details

    Year built
    1960

    We can help!

    Listing Contact
    Rianna M. Lazzaro
    Rianna M. Lazzaro
    Source: Elliman

    Listing Agent: Rianna M. Lazzaro

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

    Learn more

    Overview

    Varick Street Opportunity Awaits

    This property, family-owned since 1984, presents an opportunity on Varick Street in Utica. Formerly the TNT Video and Music Store from 1984 to 2006, the building awaits a new owner. Situated in the Varick Street district, it is close to restaurants, bars, and the Historical Saranac Brewery. The building is located on a 37x84 lot, and the sale includes an additional 41x128 vacant lot. Given the limited parking options on and near Varick Street, the vacant lot has the potential to be paved and used for parking.
    Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Utica
    County
    Oneida
    State
    New York
    Longitude
    -75.2426305
    Latitude
    43.1037074

    Nearby Similar for Sale

    • $299,900
      Pending

      Mixed-Use Building in Prime Location

      Versatile property suitable for medical office, residential, or mixed-use.
      2113 Genesee St, Utica, NY 13501
      View Details
    • $395,000
      4,224 SF

      Utica Multifamily Property for Sale

      Multifamily property in Utica, NY, totaling 4,224 square feet.
      3 Hopper St, Utica, NY 13501
      View Details
    • $395,000
      4,224 SF

      Utica Commercial Property for Sale

      Commercial property available in Utica, New York, with 4,224 square feet.
      3 Hopper St, Utica, NY 13501
      View Details
    • $239,900
      Pending

      Utica Retail/Office Opportunity

      2600 SF retail or office space for sale.
      923 Rutger St, Utica, NY 13501
      View Details
    • $949,900
      7,163 SF

      Turnkey Utica Bed & Breakfast

      Magnificent 7,200 sq ft Italianate manse with thriving business.
      1423 Genesee St, Utica, NY 13501
      View Details
    • New
      $575,000
      Pending

      Updated Home with Income Potential

      Updated home with a separate apartment and four-stall garage.
      10494 Miller Rd, Utica, NY 13502
      View Details
    • $379,900
      5,852 SF

      Move-in Ready Utica Office Space

      Office space with amenities and potential for immediate income.
      1660 Champlin Ave, Utica, NY 13413
      View Details
    • $899,900
      4,550 SF

      Commercial Property on Oriskany Street

      Prime commercial property in Utica, NY with high potential.
      1700 Oriskany St W, Utica, NY 13502
      View Details
    • $220,000
      Pending

      Utica Two-Family Home with Garage

      Spacious two-family home on a double lot with a garage.
      1020 Tilden Ave, Utica, NY 13501
      View Details
    • $1,299,000
      24,200 SF

      Four-Story Brick Building with Pizzeria

      Four-story brick building with a pizzeria, bar, and apartment potential.
      650 Varick St, Utica, NY 13502
      View Details
    • $181,000
      1,323 SF

      Utica Multifamily Property with Two Units

      Two-unit property with fresh paint, hardwood floors, and convenient location.
      1004 Champlin Ave, Utica, NY 13502
      View Details
    • $119,900
      Pending

      Utica Specialty Property for Sale

      Specialty property in Utica, NY, with 2372 square feet.
      730 Roberts St, Utica, NY 13502
      View Details

    FAQs

    What type of property is this?
    Storefront property - Property on Varick Street with vacant lot included.
    Where is this storefront property located?
    The property is located at 707 Varick St Utica, NY.
    What is the asking price?
    The asking price for this property is $99,900.
    What are key features of this property?
    This property features: - Prime location in the popular Varick Street district, close to restaurants, bars, and the Saranac Brewery.; - Includes an additional 41x128 vacant lot, offering significant development potential.; - Potential to create a parking lot on the vacant lot, addressing the limited parking in the area.
    (315) 525-4430
    Request Owner's contact information
    707 Varick St Utica, NY 13502
    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.
    707 Varick St
    Utica, NY 13502
    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
    707 Varick St Utica, NY 13502
    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
    Rianna M. Lazzaro
    Rianna M. Lazzaro
    Real Estate License ID: 40LA1116913
    (315) 525-4430
    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.