Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    2 Korner Dr Bolton, NY 12814

    Sponsored
    For Sale
    $695,000

    Prime Bolton location, retail/office opportunity.

    Property size:
    630 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    403
    This 630-square-foot commercial property at 2 Karl's Korner Drive in Bolton, NY (12814) presents a unique investment opportunity. Located in a high-traffic area across from public parking and adjacent to the Bolton Landing Brewery Company, this property boasts both main-level retail space and a finished lower level (approximately 525 sq ft) currently used for storage and office space. The lower level includes a full bathroom and offers both interior and exterior access. The building features oil radiant heat, a hot water boiler, 150-amp service, and window unit air conditioning. Exterior features include asphalt shingle roofing and wood siding. The property sits on a 0.08-acre lot and includes three parking spaces. Public water and sewer are available. The property is commercially zoned (with a variance approval for commercial retail) and offers high-speed internet access. Estimated annual property taxes are $1,648. This is an ideal location for a variety of retail or office uses. Don't miss this rare opportunity in Bolton Landing.

    Property Features for 2 Korner Dr

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    630 SF
    Lot Size
    3,485 SF

    We can help!

    Listing Contact
    Valerie Erceg

    Learn more

    HighLights

    • 0.08‑acre commercial lot.
    • Located in Bolton, Warren County.
    • Commercial office building in the Bolton School District.
    • Estimated annual taxes: $1,648.
    • Public water and sewer.
    • Hot water, radiant oil heat.
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis Gift Shop Party City Party Store Skunk Funk Wholesaler Carl's Trading Co Hat Shop Bushka's Kitchen LLC Outdoor Clothing And Equipment Shop

    Suggested Use

    Building Supply Wholesale Shop Auto Repair Shop Hair Salon Spa & Massage Kitchen & Bath Storage Facility Department Store Garden Center Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Bolton
    County
    Warren
    State
    New York
    Longitude
    -73.6561848
    Latitude
    43.5558614

    Nearby Comparable

    • $585,000
      0.08 Acres

      Bolton Landing Retail/Office Space

      Retail/office space in Bolton Landing with finished basement and bathroom.
      2 Karl's Cor Dr, Bolton Landing, NY 12814
      View Details
    • $1,050,000
      Pending

      Bolton Landing Commercial Property For Sale

      Rare commercial property on Lake Shore Drive in Bolton Landing.
      4921 Lake Shore Dr, Bolton Landing, NY 12814
      View Details

    FAQs

    What type of property is this?
    Office Property / Space - Prime Bolton location, retail/office opportunity.
    Where is this office property / space located?
    The property is located at 2 Korner Dr Bolton, NY.
    What is the asking price?
    The asking price for this property is $695,000.
    What are key features of this property?
    This property features: 0.08-acre commercial lot.; Located in Bolton, Warren County.; Commercial office building in the Bolton School District.
    Request Owner's contact information
    2 Korner Dr Bolton, NY 12814
    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.
    2 Korner Dr
    Bolton, NY 12814
    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
    2 Korner Dr Bolton, NY 12814
    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

    We can help!
    Listing Contact
    Valerie Erceg
    Real Estate License ID: NY
    Learn more
    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.