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    1 Main St Richfield Springs, NY 13439

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    For Lease
    Contact for pricing

    Richfield Springs, NY: Prime Retail Opportunity

    Lot size:
    53,000 SF

    Property Features for 1 Main St

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    53,000 SF

    Spaces For Lease

    at 1 Main St, Richfield Springs, NY 13439 Contact us

    We can help!

    Listing Contact
    Gordon Heeps
    Gordon Heeps

    Listing Agency: RedMark Realty Listing Agent: Gordon Heeps

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

    Learn more

    Property Insight Report

    Overview

    This exceptional retail property, Price Chopper Plaza, located at 1 Main Street in Richfield Springs, NY 13439, offers four available spaces ideal for a variety of businesses. Situated in Otsego County, this plaza boasts a total of 53,000 square feet of retail space. The available spaces range from a minimum of 1,320 square feet to a maximum contiguous space of 4,000 square feet, providing flexibility for businesses of varying sizes. Currently, 4,000 square feet are vacant and ready for immediate occupancy. The property's strategic location on Main Street ensures high visibility and accessibility for customers. This is a multi-tenant property, offering a vibrant and established retail environment. The property's address is 1 Main Street, Richfield Springs, NY 13439, and its geographic coordinates are 42.857863 latitude and -74.9968771 longitude. This presents a unique opportunity for businesses seeking a well-established location in a thriving community. The property type is retail storefront, offering excellent exposure and foot traffic. The available space is perfect for businesses seeking a prominent location in a busy commercial center. Don't miss this chance to secure your space in this prime retail location. Contact us today to learn more about leasing opportunities and to schedule a viewing.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Redbox Cinema Fisher Auto Parts Auto Parts Store Brickhouse Pizzeria Restaurant Coinstar Bank Western Union Bank

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Pharmacy Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Richfield Springs
    County
    Otsego
    State
    New York
    Longitude
    -74.9968771
    Latitude
    42.857863

    Nearby Similar for Lease

    • $12 SF/Yr
      51,482 SF

      Retail Space Anchored by Supermarket

      57,000 SF shopping center with outlots for sale or lease.
      1 Main St, Richfield Springs, NY 13439
      View Details
    • $12 SF/Yr
      51,482 SF

      Retail Space in Richfield Springs

      Retail space available in shopping center anchored by Price Chopper.
      1 Main St, Richfield Springs, NY 13439
      View Details

    FAQs

    What type of property is this?
    Individual retail property - Richfield Springs, NY: Prime Retail Opportunity
    Where is this individual retail property located?
    The property is located at 1 Main St Richfield Springs, NY.
    What are key features of this property?
    This property features: 1,320-4,000 SF available in Price Chopper Plaza, Richfield Springs, NY.; 4,000 SF immediately available.; Ground lease or build-to-suit options available.
    (518) 952-7500 Call to check price and availability
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    1 Main St Richfield Springs, NY 13439
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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
    1 Main St Richfield Springs, NY 13439
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Gordon Heeps
    Gordon Heeps
    Real Estate License ID: 10491202391
    (518) 952-7500
    Learn more
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