Add Listing
    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

    15 N Main St Manheim, NY 13329

    View on Map
    Loading data...
    Loading data...
    Loading data...
    Pending
    $159,000

    Five fully rented units in Dolgeville, New York.

    Lot size:
    0.14 Acres

    Property Features for 15 N Main St

    General Information

    Property type
    Investment
    Standard status
    Pending
    Lot size
    0.14 Acres

    Building Details

    Year built
    1950

    We can help!

    Listing Contact
    Veronica Boyko-Mendez
    Source: Elliman

    Listing Agent: Veronica Boyko-Mendez

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

    Learn more

    Overview

    Five-Unit Multifamily Property

    This multifamily property features five units, fully rented with leases, situated in the historical village of Dolgeville, New York. The unit mix includes three two-bedroom apartments, one three-bedroom apartment, and one one-bedroom apartment. Each unit has separate utilities. The property is being sold in as-is condition, as the owner is retiring. The net profit is over $25,000 per year.
    Location Intelligence

    Current Use by Public Records

    Dolgeville Bread Basket Bakery

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Manheim
    County
    Herkimer
    State
    New York
    Longitude
    -74.7705459
    Latitude
    43.1024921

    Nearby Similar for Sale

    • $235,000
      3,172 SF

      Multi-Use Commercial Property with Apartment

      Commercial property with retail/office space and renovated two-bedroom apartment.
      6338 State Route 167, Dolgeville, NY 13329
      View Details
    • New
      $79,900
      1,600 SF

      Dolgeville Two-Unit Investment Property

      Well-maintained two-unit property with income potential in a convenient location.
      43 W State St, Dolgeville, NY 13329
      View Details
    • $349,000
      2,400 SF

      Updated 5-Unit Apartment Home

      Updated 5-unit apartment home with potential owner's apartment and garage.
      12 Poplar St, Dolgeville, NY 13329
      View Details
    • $695,000
      1,498,464 SF

      Spruce Creek Camp Ground

      79 Site Campground with Water, Sewer and/or Power Hook-ups Plus 4 Buildings
      2342 Rt 29, Dolgeville, NY 13329
      View Details
    • $235,000

      Multi-Use Commercial Property For Sale

      Commercial property with retail/office space and renovated residential apartment.
      6338 State Route 167, Manheim, NY 13329
      View Details
    • $114,500

      Vacant Duplex with Income Potential

      Two-unit property with separate entrances and potential income generation.
      55-1/2 N Helmer Ave, Manheim, NY 13329
      View Details
    • $59,900
      Pending

      Dolgeville Multifamily Property for Sale

      Multifamily property in Dolgeville, NY, featuring 1828 square feet.
      10 E Faville Ave, Dolgeville, NY 13329
      View Details
    • $147,000
      4,104 SF

      Dolgeville Commercial Building For Sale

      Prime Dolgeville location, 4,104 sq ft.
      111 Main St, Dolgeville, NY 13329
      View Details
    • $947,000
      0.64 Acres

      Dollar General Storefront Investment

      High-Yield Retail Investment in NY
      1 Stewart St, Dolgeville, NY 13329
      View Details

    FAQs

    What type of property is this?
    Apartment building - Five fully rented units in Dolgeville, New York.
    Where is this apartment building located?
    The property is located at 15 N Main St Manheim, NY.
    What is the asking price?
    The asking price for this property is $159,000.
    What are key features of this property?
    This property features: - Fully rented with leases in place, providing immediate rental income.; - Net profit over $25,000 per year, indicating strong investment potential.; - Diverse apartment sizes (3 x 2-bedroom, 1 x 3-bedroom, 1 x 1-bedroom) to attract a wider range of tenants.
    (315) 796-0439
    Request Owner's contact information
    15 N Main St Manheim, NY 13329
    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.
    15 N Main St
    Manheim, NY 13329
    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
    15 N Main St Manheim, NY 13329
    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
    Veronica Boyko-Mendez
    (315) 796-0439 (315) 792-8043
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!