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    Property profile & analytics

    106 Main St Boonville, NY 13309-1132

    • Hotels
    • 15,713 SF
    • 3.90 lot acres
    OFF-MARKET
    Last Sale
    Mar 14, 2025
    $1,550,000
    Value Estimations
    $1,585,000
    Show details
    Cap Rate Potential
    3.8%
    Hotels
    Location Intelligence
    Property ID
    US63-2916067
    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

    • Woodland Farm Brewery at the Hulbert House / Restaurant / Bar
    • Hulbert House / Hotel

    Property Details for 106 Main St

    Year built
    1950
    Lot size
    3.90 lot acres
    Property size
    15,713 SF
    Zone code
    C2
    Property type
    Hotels
    APN
    302601 22.018-1-53
    APU
    30260122018153

    Description

    This exceptional mixed-use property, located at 106 Main St, Boonville, NY 13309, presents a compelling investment opportunity. The 1812-built, three-story building underwent a complete renovation in 2021, encompassing new plumbing, electrical systems, HVAC, and roofing. Spanning 18,125 square feet on a 169,884 square foot lot, the property boasts 19 units: 10 studios and 7 one-bedroom apartments, along with two commercial spaces and a brewery. The potential exists to add 5 more residential units. Currently operating at 90% occupancy with 18 tenants, the property generates a substantial Net Operating Income (NOI) of $235,275, representing an 11.20% cap rate. The asking price is $2,100,000, or $110,526.32 per unit and $11.59 per square foot. Individual electric meters are installed, and amenities include a laundry room, fitness center, and building-wide Wi-Fi. Residential units feature kitchenettes, with the landlord covering utilities. Commercial tenants are responsible for their own utilities. The property is zoned C2 and offers a blend of historic character and modern upgrades, making it an attractive and profitable investment. This turnkey property is situated in a prime Boonville location with a proven rental history.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,585,000
      ML approach
      $1,505,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Boonville
    County
    Oneida
    State
    New York
    Longitude
    -75.3347
    Latitude
    43.4854
    CBSA code
    46540
    CBSA name
    UTICA-ROME, 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
    $50,000
    $115,000
    $165,000
    -
    $100,000
    $230,000
    $330,000

    Comparable in this City

    • Value Estimation
      $285,000
      3,873 SF

      103 Water St

      HOTEL • 3,873 SF
      103 Water St, Boonville, NY 13309-1327
      View Details
    • Value Estimation
      $340,000
      6,604 SF

      113 Ann St

      HOTEL • 6,604 SF
      113 Ann St, Boonville, NY 13309-1303
      View Details
    • Value Estimation
      $370,000
      18,702 SF

      13542 State Rte 12

      MOTEL • 18,702 SF
      13542 State Rte 12, Boonville, NY 13309
      View Details
    • Value Estimation
      $265,000
      2,800 SF

      12255 Potato Hl Rd

      CAMPGROUND, RV PARK • 2,800 SF
      12255 Potato Hl Rd, Boonville, NY 13309
      View Details
    • Value Estimation
      $325,000
      5,400 SF

      3334 Moose Riv Rd

      CAMPGROUND, RV PARK • 5,400 SF
      3334 Moose Riv Rd, Boonville, NY 13309-3617
      View Details
    • Value Estimation
      $270,000
      900 SF

      State Rte 46

      CAMPGROUND, RV PARK • 900 SF
      State Rte 46, Boonville, NY 13309
      View Details

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    106 Main St
    Boonville, NY 13309-1132
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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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