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    Two-Unit Property with Business Potential Title is generated by Realmo AI

    123 S Main Street, Salem, NY 12865

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    For Sale
    $399,000

    MULTI_FAMILY - Salem, NY

    Property size:
    1,432 SF
    Lot size:
    2.40 Acres
    Price / SF:
    $278/SF
    Added:
    Apr 10, 2026
    Days on Market:
    36
    Last Refresh:
    May 15 at 11:06 am

    Property Features for 123 S Main Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Multi Residence
    Bedrooms
    5
    Bathrooms
    2
    Rooms
    Bathroom 1, Bedroom 3, Bedroom 5, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 1
    Parking
    6
    Parking features
    Driveway
    Patio and Porch features
    Porch
    Basement
    Unfinished
    Standard status
    Active
    APN
    534800 208.12-4-16
    Size
    1,432 SF
    Lot size
    2.40 Acres

    Taxes and HOA fees

    Tax Annual Amount
    5529

    Utilities

    Utilities
    Cable Available
    Sewer type
    Septic Tank
    Heating system
    Electric (Heating)
    Water source
    Public

    Building Details

    Year built
    1900
    Number of units
    2
    Flooring type
    Carpet, Linoleum
    Building materials
    Wood Siding
    Roof type
    Slate, Asphalt
    Additional Structures
    Workshop

    We can help!

    Listing Contact
    Stacey Loya

    Listing agent Stacey Loya License #10401383633

    Listing office PennyDot Realty 200 Main St Ste C, Shushan, NY

    Listing date Apr 10, 2026

    MLS# 202614852 Listing URL

    Copyright © 2026 Global MLS, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Immediate income potential from two units.
    • Large, versatile garage/workshop suitable for business operations or storage.
    • 2.4 acres of land with subdivision and additional building potential.
    • High demand rental area.
    • Ideal for owner‑occupant/business combination.
    • Value‑add potential for business owners or investors.

    Overview

    This two-unit property in Salem, NY, offers immediate income and business potential. Situated on 2.4 acres, the property presents opportunities for subdivision and the construction of additional units. A large, versatile garage/workshop is suitable for storage, equipment, or business operations. The property combines steady residential income with value-add potential for business owners or investors. The 1,432 square foot property is located in a high-demand rental area and is suitable for an owner-occupant/business combination. The zoning is Multi Residence.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Washington
    State
    New York
    Longitude
    -73.327864
    Latitude
    43.168409

    Nearby Similar for Sale

    • $104,500
      1,280 SF

      Historic Building on Main Street

      Charming commercial building in growing community on NY/VT border.
      192 S Main Street, Salem, NY 12865
      View Details
    • $259,000
      5,022 SF

      Mixed-Use Property in Historic Salem

      Mixed-use property with storefronts and apartments in Salem, NY.
      217 N Main Street, Salem, NY 12865
      View Details
    • $129,900

      17.9 Acres in Salem, NY

      17.9 acre property with wooded setting and mountain views.
      52 Oak hill Road, Salem, NY 12832
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-unit property with acreage and business potential in Salem.
    Where is this duplex located?
    The property is located at 123 S Main Street Salem, NY.
    What is the asking price?
    The asking price for this property is $399,000.
    What are key features of this property?
    This property features: Immediate income potential from two units.; Large, versatile garage/workshop suitable for business operations or storage.; 2.4 acres of land with subdivision and additional building potential.
    (518) 338-8998
    We can help!
    Listing Contact
    Stacey Loya
    Real Estate License ID: 10401383633
    Learn More
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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
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