Building Details

Building Size 1,492 SF

Year Built 1920

Stories 2

Units 2

Listing Agency: Bridgeview Real Estate j***@bridgeviewny.com Show Phone

Listed By: Erin Gebo · License #10401358541

Source: Garlockrealty

Added: Aug 20 Changed: Oct 23 Last Checked: Oct 23 at 2:01PM

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$10,989

Cap Rate

7.33%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$219,780 $219.8K

Cap Rate 7%

$156,986 $157.0K

Cap Rate 9%

$122,100 $122.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,492 SF

Gross rent

$21.5K $14.40/SF

− Vacancy

−$1.5K −$1.01/SF

EGI

$20.0K $13.39/SF

− OpEx

−$9.0K −$6.03/SF

NOI

$11.0K $7.37/SF

Area

Jefferson County, NY

Vacancy

7.00%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$219,780

Cap Rate 7%

$156,986

Cap Rate 9%

$122,100

Alternative Uses

Best Use

Apartment 5plus

$157.0K

$137.4K – $183.2K (±1% cap)

NOI $10,989 @ 7.0% cap · market cap 7.33%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$411.3K

$359.9K – $479.8K (±1% cap)

NOI $28,790 @ 7.0% cap · market cap 19.19%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Suggested Use

Top Pick Building Supply HVAC Service Electrical Service Bakery (Bike/Boat/Book/etc) Store Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

410

Businesses Nearby

Explore this area Business Placement

Demographics for 13619, NY

10,600

Population

4,649

Households

2.3

Avg Household Size

38

Median Age

19%

College-Educated

87%

High-School Grad

112.7 sq mi

ZIP Area

94

Density / Sq Mi

$63,549

Median Household Income

$44,792

Median Earnings

$984

Median Rent

$171,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

Where is this multifamily property located?

The property is located at 517 West Street Carthage, NY.

What is the asking price?

The asking price for this property is $150,000.