Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Property profile & analytics

    705 Elm St Groton, NY 13073-1127

    • Medical offices
    • 5,296 SF
    • 5.87 lot acres
    OFF-MARKET
    Value Estimations
    $275,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-4284412
    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

    • Medical offices

    Property Details for 705 Elm St

    Year built
    1989
    Lot size
    5.87 lot acres
    Property size
    5,296 SF
    Property type
    Medical offices
    Property subtype
    Medical centers
    APN
    502801 208.-2-4.12
    APU
    5028012082412

    Description

    This exceptional investment opportunity in Groton, New York presents two identical buildings totaling 10,592 square feet on a sprawling 5.87-acre lot. Built in 1989, each building offers 5,296 square feet of space, previously used as residential units for individuals with developmental disabilities. The property is currently vacant and presents a unique chance for redevelopment. The expansive lot and existing structures offer significant potential for various uses, including residential conversions, office spaces, or even new construction projects. Located at 705 Elm St, Groton, NY 13073, this property offers a compelling investment opportunity with a list price of $419,000 ($39.56/sq ft and $209,500/unit). The property's size and location in Tompkins County provide a strong foundation for a variety of development scenarios. The tranquil setting, surrounded by greenery, adds to its appeal for both residential and commercial ventures. This is a rare chance to acquire a substantial property with significant upside potential in a desirable location. The property's history as a residential facility provides a solid base for future development plans.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $275,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Groton
    County
    Tompkins
    State
    New York
    Longitude
    -76.3519
    Latitude
    42.5859
    CBSA code
    27060
    CBSA name
    ITHACA, 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
    2023
    $0.00
    $120,000
    $780,000
    $900,000
    -
    $120,000
    $780,000
    $900,000

    Comparable in this City

    • Value Estimation
      $395,000
      13,790 SF

      100 Sykes St

      MEDICAL CLINIC • 13,790 SF
      100 Sykes St, Groton, NY 13073-1286
      View Details
    • Value Estimation
      $635,000
      48,020 SF

      200 Ws St

      HOMES (RETIRED, NURSING) • 48,020 SF
      200 Ws St, Groton, NY 13073-1248
      View Details
    • Value Estimation
      $635,000
      34,682 SF

      120 Sykes St

      HOMES (RETIRED, NURSING) • 34,682 SF
      120 Sykes St, Groton, NY 13073-1231
      View Details
    • Value Estimation
      $285,000
      6,797 SF

      108 Cortland St

      OFFICE BUILDING • 6,797 SF
      108 Cortland St, Groton, NY 13073-1108
      View Details
    • Value Estimation
      $270,000
      2,347 SF

      119 Ws St

      PROFESSIONAL BUILDING • 2,347 SF
      119 Ws St, Groton, NY 13073-1234
      View Details
    • Value Estimation
      $305,000
      18,980 SF

      101 Conger Blvd

      OFFICE BUILDING • 18,980 SF
      101 Conger Blvd, Groton, NY 13073-1035
      View Details

    Similar Nearby for Sale

    • $269,900

      Versatile Commercial Building in Groton

      Well-maintained commercial property with ample parking and numerous possibilities.
      143 E Cortland St, Groton, NY 13073
      View Details
    • $279,900
      2,640 SF

      Groton Office Building - Huge Potential

      Prime Groton location, versatile office space.
      143 Cortland St, Groton, NY 13073
      View Details
    • Contact for pricing
      Pending

      Corner Lot in Groton, NY

      Affordable corner building lot with municipal services available.
      218 W Cortland St, Groton, NY 13073
      View Details
    • Contact for pricing

      Recreational Land Near Owasco Inlet

      Two adjoining parcels totaling 12.53 acres, great for recreation.
      Walpole Rd, Groton, NY 13073
      View Details
    • $39,900
      Pending

      Ready-to-Build Land in Groton

      2.5+ acre lot with utilities in private setting.
      1112 Elm Street Ext, Groton, NY 13073
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    705 Elm St
    Groton, NY 13073-1127
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.