Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    57 Gleneida Ave Carmel, NY 10512

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $549,000

    Iconic restaurant/bar space in the heart of Carmel, New York.

    Property Features for 57 Gleneida Ave

    General Information

    Standard status
    Active

    We can help!

    Listing Contact
    Gregory M. Kardos
    Source: Corcoran

    Listing Agency: KARDOS & CO. REAL ESTATE LLC Listing Agent: Gregory M. Kardos

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

    Learn more

    Overview

    Historic Carmel Restaurant/Bar Opportunity

    This historic bar and restaurant space, which has been in operation since 1852, is located in the center of Carmel. The property is situated in the heart of the hamlet of Carmel, surrounded by the Putnam County office buildings, Courthouse, Sheriff’s Office, professional offices, Carmel High School, and the post office. The location offers visibility and foot traffic, with over 25,000 cars passing by daily. The property is zoned Hamlet Mixed-Use Central, allowing for a variety of uses. This property presents a chance to bring dining, nightlife, or a community hub back to downtown Carmel.
    Location Intelligence

    Current Use by Public Records

    Bars & Pubs

    Suggested Use

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

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

    Similar Places Nearby

    Thai Golden, Odeens BBQ Carmel, District Social

    Location Insight

    • Map
    • Local Demand
    City
    Carmel
    County
    Putnam
    State
    New York
    Longitude
    -73.6792275
    Latitude
    41.4271166

    Nearby Similar for Sale

    • $325,000
      0.21 Acres

      Route 52 Commercial Building

      High-visibility commercial property suitable for retail, office, or medical use.
      208 Route 52, Carmel, NY 10512
      View Details
    • $725,000
      0.27 Acres

      Carmel, NY Office Building

      Office building with alarm, surveillance, and sprinkler systems.
      1671 Route 6, Carmel, NY 10512
      View Details
    • $1,299,000
      5,758 SF

      High-Visibility Commercial Building For Sale

      Meticulously maintained 5,758 SF commercial building with high traffic exposure.
      1995 Route 6, Carmel, NY 10512
      View Details
    • $639,900
      Pending

      Restored School in Carmel, NY

      Turn-key school on nearly 5 acres in a residential neighborhood.
      4 Glenna Dr, Carmel, NY 10512
      View Details
    • $999,000
      5,983 SF

      Mixed-Use Property with Rehab Potential

      Four-unit apartment building and motel on 7.27 acres in Carmel, NY.
      541 Route 52, Carmel, NY 10512
      View Details
    • $775,000
      4,853 SF

      Carmel Retail Buildings on Route 52

      Three commercial buildings with residential unit on up-and-coming Route 52.
      501-507 Route 52, Carmel, NY 10512
      View Details
    • $575,000
      3,272 SF

      Prime Commercial Office Building For Sale

      Spacious office building in high-traffic area, move-in ready condition.
      9 Fair St, Carmel, NY 10512
      View Details
    • $299,000

      Historic Carmel Bar and Restaurant

      Iconic bar and restaurant in the heart of Carmel Hamlet.
      59 Gleneida Ave, Carmel, NY 10512
      View Details
    • $299,000

      Historic Commercial Building in Carmel

      Prime location with high traffic, ideal for various businesses.
      57 Gleneida Ave, Carmel, NY 10512
      View Details
    • $549,000

      Historic Carmel Restaurant & Bar

      Iconic restaurant/bar space in the heart of Carmel, NY.
      57 Gleneida Ave, Carmel, NY 10512
      View Details
    • $650,000

      Carmel Specialty Property For Sale

      Specialty property available for purchase in Carmel, New York.
      18 Lakeview Rd, Carmel, NY 10512
      View Details
    • $325,000

      Commercial Building on Route 52

      High-visibility commercial property suitable for retail, office, or medical use.
      208 Route 52, Carmel, NY 10512
      View Details

    FAQs

    What type of property is this?
    Bar & Pub - Iconic restaurant/bar space in the heart of Carmel, New York.
    Where is this bar & pub located?
    The property is located at 57 Gleneida Ave Carmel, NY.
    What is the asking price?
    The asking price for this property is $549,000.
    What are key features of this property?
    This property features: - Prime location in the center of Carmel's business and civic district with high foot traffic.; - High visibility with over 25,000 cars passing daily.; - Historic bar/restaurant space dating back to 1852.
    (845) 494-9200
    Request Owner's contact information
    57 Gleneida Ave Carmel, NY 10512
    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.
    57 Gleneida Ave
    Carmel, NY 10512
    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
    57 Gleneida Ave Carmel, NY 10512
    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
    Gregory M. Kardos
    (845) 494-9200
    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!