Your AI Navigator in Commercial Real Estate
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

    8 Lake St Richfield, NY 13439

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $120,000

    Income property with development potential in a high-demand area.

    Lot size:
    0.08 Acres

    Property Features for 8 Lake St

    General Information

    Lot size
    0.08 Acres

    Building Details

    Year built
    1950

    Source: Coldwell Banker Faith Properties Il Agent Kathryn Moxham

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

    Overview

    Five-Unit Building with Vacant Lot

    This offering presents an opportunity for investors, featuring a fully rented five-unit building and an adjoining vacant lot. The building includes two 1-bedroom apartments and three 2-bedroom apartments. The property is well-maintained and consistently leased, delivering cash flow. The additional lot allows for further value creation, such as new construction, green space, or extended tenant amenities. The location is convenient and in a high-demand area.
    Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Nail Salon Pharmacy Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Richfield
    County
    Otsego
    State
    New York
    Longitude
    -74.9854446
    Latitude
    42.8527818

    Nearby Similar for Sale

    • $120,000

      Five-Unit Multifamily Investment Opportunity

      Five income-producing apartments with strong rental history and upside potential.
      6 Lake St, Richfield, NY 13439
      View Details

    FAQs

    What type of property is this?
    Apartment building - Income property with development potential in a high-demand area.
    Where is this apartment building located?
    The property is located at 8 Lake St Richfield, NY.
    What is the asking price?
    The asking price for this property is $120,000.
    What are key features of this property?
    This property features: - Strong, reliable cash flow from a fully rented five-unit building.; - Adjoining vacant lot offers development potential.; - Desirable unit mix: two 1-bedroom and three 2-bedroom apartments.
    (315) 717-4047
    Request Owner's contact information
    8 Lake St Richfield, NY 13439
    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.
    8 Lake St
    Richfield, NY 13439
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    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.

    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.

    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
    8 Lake St Richfield, NY 13439
    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
    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.