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    34-Acre Land Parcel in Durham Title is generated by Realmo AI

    268 Hervey Street Road, Durham, NY 12423

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    Claim this Listing
    For Sale
    Under Contract
    $220,000

    LAND - Durham, NY

    Lot size:
    34.19 Acres
    Added:
    Jan 21, 2025
    Days on Market:
    478
    Last Refresh:
    May 14 at 4:06 pm

    Property Features for 268 Hervey Street Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    240
    Standard status
    Active Under Contract
    APN
    64.00-2-6
    Lot size
    34.19 Acres

    Taxes and HOA fees

    Tax Description
    240 Rural Residential
    Tax Annual Amount
    1930

    Utilities

    Utilities
    Electricity Available
    Sewer type
    Perc Test On File
    Water source
    Well

    We can help!

    Listing Contact
    Theodore Banta III
    Theodore Banta III

    Listing agent Theodore Banta III License #10311206649

    Listing office RVW Select Properties 7 W Moorehouse Rd, CAIRO, NY

    Listing date Jan 21, 2025

    MLS# 155783

    Copyright © 2026 Hudson Valley Catskill Region MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 34.2 acre parcel with development potential, ideal for a dream home or family retreat.
    • Approved plans for up to 8 luxury container homes, including septic and construction plans.
    • Existing infrastructure: road, electricity, and well are already in place.
    • Two cleared sites ready for construction.
    • Proximity to Windham and Hunter Ski Mountains, Zoom Flume Water Park, and other attractions.
    • Ideal for outdoor activities such as hiking, hunting, and farming.

    Overview

    This 34.19-acre parcel of land is located in the rural area of Durham, NY. The property includes an old, dilapidated cabin. Existing infrastructure includes a road, electricity, and a well. There are two cleared sites on the property. Septic plans and construction plans are available for up to 8 luxury container homes. The land is located 12 minutes from Windham Ski Mountain, 20 minutes from Hunter Ski Mountain, and 6 minutes from Zoom Flume Water Park. Green Lake is 20 minutes away, Colgate Lake is 22 minutes away, North-South Lake State Campground is 30 minutes away, and Dutchman's Landing Park and the Hudson River are 20 minutes away. The property is suitable for building a dream home or a family retreat. Recreational activities such as playing, hiking, recreating, hunting, and farming are possible on the land. The parcel could be developed for camping, glamping, mini-homes, yurts, multi-family housing, or an agri-business.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Map

    City
    Durham
    County
    Greene
    State
    New York
    Longitude
    -74.125531
    Latitude
    42.344519

    Nearby Similar for Sale

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      Wooded Land in East Durham

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      View Details
    • $238,000

      Durham Vacant Land For Sale

      23.85 acre vacant land parcel in Durham, New York.
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    • $39,000

      Vacant Land Ready to Build

      Cleared land with approved septic, ready for dream home.
      27 Sherwood Forest Road, Durham, NY 12422
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    FAQs

    What type of property is this?
    Land - Land with development potential near Windham and Hunter Ski Mountains.
    Where is this land located?
    The property is located at 268 Hervey Street Road Durham, NY.
    What is the asking price?
    The asking price for this property is $220,000.
    What are key features of this property?
    This property features: 34.2 acre parcel with development potential, ideal for a dream home or family retreat.; Approved plans for up to 8 luxury container homes, including septic and construction plans.; Existing infrastructure: road, electricity, and well are already in place.
    (518) 466-1219
    We can help!
    Listing Contact
    Theodore Banta III
    Theodore Banta III
    Real Estate License ID: 10311206649
    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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