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
    Back to Search
    Property profile & analytics

    3230 State Hwy Greenfield Center, NY 12833

    • Retail properties
    • 3,580 SF
    • 12.60 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 3230 State Hwy

    Lot size
    12.60 lot acres
    Property size
    3,580 SF
    Property type
    Retail properties
    Property subtype
    Land

    Description

    Exceptional opportunity to acquire the Greenfield Village Inn, a 3,580 sq ft property situated on 12.6 picturesque acres in Greenfield Center, NY (zip code 12833). This property includes four cottages and a small two-story apartment, all nestled around a pond. Previously a popular tavern/restaurant, the Inn has been closed for two decades but has recently undergone significant pre-development work. New owners purchased the property in 2020 and secured a renewed special use permit from the Town of Greenfield to operate a restaurant, pending final septic design approval from the NY Department of Health. Comprehensive site plans and floor plans for renovation are available. The asking price is $299,900 ($101.93/sq ft). This presents a unique chance to revitalize a beloved local landmark and capitalize on its considerable potential. The property has already been surveyed, and engineering plans are complete, significantly reducing the time and cost associated with initial development. The property is ready for your vision and offers a multitude of possibilities beyond restaurant use. This is a rare chance to own a substantial piece of land with existing structures in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Greenfield Center
    County
    Saratoga
    State
    New York
    Longitude
    -73.8516
    Latitude
    43.1397

    Comparable in this City

    • Value Estimation
      $1,220,000
      3,240 SF

      2706 Rte 9n

      NURSERY, GREENHOUSE, FLORIST • 3,240 SF
      2706 Rte 9n, Greenfield Center, NY 12833-1622
      View Details
    • Value Estimation by Request
      1.13 Acres

      688 Us-9

      Land • 1.13 Acres
      688 Us-9, Greenfield Center, NY 12833
      View Details
    • Value Estimation
      $375,000
      924 SF

      353 Grange Rd

      MOBILE HOME PARK, TRAILER PARK • 924 SF
      353 Grange Rd, Greenfield Center, NY 12833-1631
      View Details
    • Value Estimation
      $330,000
      980 SF

      2025 Rte 9n

      MOBILE HOME PARK, TRAILER PARK • 980 SF
      2025 Rte 9n, Greenfield Center, NY 12833-1653
      View Details
    • Value Estimation
      $250,000
      360 SF

      60 Brigham Rd

      CAMPGROUND, RV PARK • 360 SF
      60 Brigham Rd, Greenfield Center, NY 12833
      View Details
    • Value Estimation
      $300,000
      980 SF

      26 Goosehollow Rd

      MOBILE HOME PARK, TRAILER PARK • 980 SF
      26 Goosehollow Rd, Greenfield Center, NY 12833-1333
      View Details

    Similar Nearby for Sale

    • $159,900

      Secluded Hunting Land For Sale

      41 acre hunting land bordering Lincoln Mountain State Forest!
      25 Lincoln Mountain Rd, Greenfield, NY 12833
      View Details
    • $165,000
      4.66 Acres

      Land Near Saratoga Springs

      Vacant land parcel near Saratoga Springs, NY, for residential development.
      111 S Greenfield Rd, Greenfield Center, NY 12833
      View Details
    • $665,000
      25.68 Acres

      Land Parcel Near Saratoga Springs

      25.68 acres suitable for residential development near Saratoga Springs.
      24 Bumphill Rd, Greenfield Center, NY 12833
      View Details
    • $132,900

      Buildable Lot in Saratoga Springs

      Buildable lot in Saratoga Springs School District with existing utilities.
      315 N Greenfield Rd, Greenfield, NY 12833
      View Details
    • $1,770,000
      2,976 SF

      Operational Horse Farm Near Saratoga

      Horse farm with barns, track, fencing, and residential units.
      100 Howe Rd, Greenfield, NY 12833
      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.
    3230 State Hwy
    Greenfield Center, NY 12833
    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.