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    Approved Self-Storage Development Opportunity Title is generated by Realmo AI

    674 New York 17K, Montgomery, NY 12549

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    Approved self-storage development site with high visibility and traffic.

    Type:Industrial
    Property size:
    41,520 SF
    Added:
    Nov 21, 2025
    Days on Market:
    181
    Last Refresh:
    Apr 5 at 11:23 pm

    Property Features for 674 New York 17K

    General Information

    Standard status
    Active
    Size
    41,520 SF
    Property subtype
    Industrial

    We can help!

    Listing Contact
    Hans Hardisty

    Listing agent Hans Hardisty

    Listing office

    Listing date Nov 21, 2025

    Source Nationalstoragepartners

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

    All listing content including descriptions, pricing, images are the copyrighted material of Hans Hardisty

    HighLights

    • Approved for 70,000 +/- Net Rentable SF of Self Storage in a market with difficult approvals.
    • Under‑supplied area with high market rents.
    • Proforma based on a conservative 50,000 SF, allowing for future expansion.
    • Prime 5.71 +/- Acre site with self storage site plan in place after subdivision.
    • High visibility and good traffic counts.
    • Close proximity to I‑84.

    Overview

    This is a development opportunity for a self-storage facility in a market where approvals are difficult to obtain. The property is to be sold with approvals in place for a self-storage facility with over 70,000 square feet of net rentable space. The site is undergoing a subdivision, and the buyer will acquire the prime front 5.71 +/- acre parcel with an approved self-storage site plan. The proforma provided is based on a more conservative sized site. The location benefits from high market rents, an under-supplied area, good traffic counts, and high visibility. It is located close to I-84 and is suitable for traditional and climate-controlled buildings. The proforma is based on 50,000 square feet, leaving room for expansion. An adjacent approved warehouse of 40,000 square feet is also available from the same seller.
    Location Intelligence

    Current Use by Public Records

    Self storage facilities

    Map

    City
    Montgomery
    County
    Orange
    State
    New York
    Longitude
    -74.2881
    Latitude
    41.5439

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    FAQs

    What type of property is this?
    Self storage facility - Approved self-storage development site with high visibility and traffic.
    Where is this self storage facility located?
    The property is located at 674 New York 17K Montgomery, NY.
    What are key features of this property?
    This property features: Approved for **70,000 +/- Net Rentable SF of Self Storage** in a market with difficult approvals.; Under‑supplied area with high market rents.; Proforma based on a conservative 50,000 SF, allowing for future expansion.
    (914) 489-7909
    We can help!
    Listing Contact
    Hans Hardisty
    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.

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