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    Property profile & analytics

    153 Broadway, Unit 159 Fort Edward, NY 12828-1708

    • Office buildings
    • 1,950 SF
    • 0.71 lot acres
    OFF-MARKET
    Value Estimations
    $295,000
    Show details
    Cap Rate Potential
    9.4%
    Office buildings
    Location Intelligence
    Property ID
    US63-2378279
    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

    • Office buildings

    Property Details for 153 Broadway

    Year built
    1980
    Lot size
    0.71 lot acres
    Property size
    1,950 SF
    Zone code
    05 - COMMERCIAL
    Property type
    Office buildings
    APN
    533001 171.5-2-8
    APU
    533001171528

    Description

    This exceptional commercial property at 153 Broadway, Fort Edward, NY 12828, presents a unique investment opportunity. The 1,950 square foot building sits on a substantial 27,878 square foot lot, offering ample space for a variety of commercial uses. Its prime location in the heart of Fort Edward provides excellent visibility and accessibility, further enhanced by its adjacency to the waterfront park and stunning, unobstructed Hudson River views. The building itself is a former bank, meticulously maintained and in excellent condition, boasting a wealth of desirable features. The main level includes two private offices, a teller area, a walk-in safe, and a spacious lobby. The lower level offers two bathrooms, a break room/kitchen, a utility room, ample storage space, and a second safe room. The property also includes a paved parking area accommodating 17+ vehicles and two drive-thru window service lanes, making it ideal for businesses requiring convenient customer access. All essential utilities are readily available, including public water, sewer, and natural gas service. This versatile property is perfectly suited for a range of businesses, from retail and restaurants to offices and more. The asking price is $249,900. Don't miss this chance to own a piece of Fort Edward's vibrant commercial landscape.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $445,000
      6.5%
      $415,000
      7%
      $385,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $309,000
      Market price range: $102k - $310k

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Edward
    County
    Washington
    State
    New York
    Longitude
    -73.5872
    Latitude
    43.2686
    CBSA code
    24020
    CBSA name
    GLENS FALLS, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $41,700
    $253,300
    $295,000
    -
    $41,700
    $253,300
    $295,000

    Comparable in this City

    • Value Estimation
      $325,000
      1,736 SF

      1566-1570 Rte 9th 9

      OFFICE BUILDING • 1,736 SF
      1566-1570 Rte 9th 9, Fort Edward, NY 12828
      View Details
    • Value Estimation
      $300,000
      1,080 SF

      1589 Rte 9th 9

      OFFICE BUILDING • 1,080 SF
      1589 Rte 9th 9, Fort Edward, NY 12828-2454
      View Details
    • Value Estimation
      $630,000
      116,696 SF

      383 Broadway

      OFFICE BUILDING • 116,696 SF
      383 Broadway, Fort Edward, NY 12828-1001
      View Details
    • Value Estimation
      $285,000
      4,828 SF

      126 Broadway

      OFFICE BUILDING • 4,828 SF
      126 Broadway, Fort Edward, NY 12828-9998
      View Details
    • Value Estimation
      $285,000
      1,232 SF

      274 Broadway

      OFFICE BUILDING • 1,232 SF
      274 Broadway, Fort Edward, NY 12828-1240
      View Details
    • Value Estimation
      $290,000
      1,344 SF

      276 Broadway

      OFFICE BUILDING • 1,344 SF
      276 Broadway, Fort Edward, NY 12828-1202
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Multi-Family Property in Fort Edward

      Three-unit multi-family property with a double lot.
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    • $75,000
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      Approved Building Lot in Fort Edward

      2.78 acre approved building lot with utilities in Fort Edward.
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    • Contact for pricing
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      Fort Edward Building Lot

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    Similar Nearby for Lease

    • $2,200 /Mo
      7,649 SF

      Retail Space in Moreau Commons

      Unique indoor mini strip mall with ample parking available for rent.
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      View Details
    • $2,200 /Mo
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      Retail Spaces in Moreau Commons

      Retail and office spaces available in Moreau, NY.
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    • $1,600 /Mo
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      Remodeled Office Space on Route 9

      Professional office space with great visibility and ample parking.
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      View Details
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    Fort Edward, NY 12828-1708
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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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