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    Property profile & analytics

    83 Grand Ave Johnson City, NY 13790

    • Commercial real estate
    • 3,648 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-6209746
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 83 Grand Ave

    Property size
    3,648 SF
    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity presents a recently renovated, five-unit multifamily property located at 83 Grand Avenue in Johnson City, New York, 13790. The 3,648 square foot Class B building boasts a strong 8.32% cap rate and is priced at $490,000 ($134.32 per square foot). Each of the five units features high-end finishes and completely separated utilities, ensuring ease of management and maximizing rental income. Convenient off-street parking is provided for tenants. The property's prime location offers significant advantages. Situated within a mile of Oakdale Commons, residents enjoy easy access to shopping and dining. Furthermore, its proximity to the expanding State University of New York and UHS campuses, including the already operational Pharmaceutical School, provides a robust and growing tenant pool. The highly walkable location (score of 76) adds further appeal. This turnkey property is ready for immediate income generation, making it an ideal investment for discerning buyers seeking a strong return in a thriving market. The property is situated in Broome County.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Johnson City
    County
    Broome
    State
    New York
    Longitude
    -75.951563
    Latitude
    42.1109838

    Comparable in this City

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      Main Street Mixed-Use Opportunity

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      Grand Ave Portfolio

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      Mixed-Use Building Near University

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      Johnson City Investment Property

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      Five-Unit Apartment Complex For Sale

      Five-unit apartment complex near Pharmaceutical School and UHS Complex.
      149-153 Hudson St, Johnson City, NY 13790
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    • $249,900
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      Multifamily Investment in Johnson City

      7,452 SF multifamily property with 13 units in Johnson City.
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    Similar Nearby for Sale

    • $500,000
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      Main Street Mixed-Use Opportunity

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      290 Main St, Johnson City, NY 13790
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      Grand Ave Portfolio

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      Mixed-Use Building Near University

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      257 Main St, Johnson City, NY 13790
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    • $199,900
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      Johnson City Investment Property

      Three-unit property near UHS Wilson Hospital with income potential.
      26 Baker St, Johnson City, NY 13790
      View Details
    • $219,000
      2,352 SF

      Five-Unit Apartment Complex For Sale

      Five-unit apartment complex near Pharmaceutical School and UHS Complex.
      149-153 Hudson St, Johnson City, NY 13790
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    • $249,900
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      Multifamily Investment in Johnson City

      7,452 SF multifamily property with 13 units in Johnson City.
      71 Endicott Ave, Johnson City, NY 13790
      View Details

    Similar Nearby for Lease

    • $1,300 /Mo

      Spacious Apartment in Johnson City

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    • Contact for pricing
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      Retail Space on Main Street

      Retail space available on a signalized intersection with high traffic.
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    • $10 SF/Yr

      Retail Space Near Major Intersection

      Community shopping center with high visibility and redevelopment potential.
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    • $10 SF/Yr

      Retail Space Near High-Traffic Intersection

      Retail suites and pad sites available near busy intersection.
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    83 Grand Ave
    Johnson City, NY 13790
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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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