Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    116 Pantry Dr SMITHVLE FLTS, NY 13841

    • Mobile home & RV parks
    • 2.48 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mobile home & RV parks

    Property Details for 116 Pantry Dr

    Year built
    1970
    Lot size
    2.48 lot acres
    Property type
    Mobile home & RV parks
    Property subtype
    Land

    Description

    This exceptional commercial property in Smithville Flats, NY, presents a lucrative investment opportunity. Located at 116 Pantry Dr, 13841, this 2.48-acre lot (APN 202.17-2-38) features a thriving mobile home park with three units and one vacant lot. Two mobile homes, owned by the seller, generate a combined monthly rental income of $1800. A third mobile home, tenant-owned, provides an additional $450 monthly lot rent. The property boasts a strong net operating income (NOI) of $16,300, resulting in an attractive 15% capitalization rate. Built in 1970, the park is zoned for commercial use and includes phase 3 electric service, offering potential for expansion or alternative commercial ventures. This low-maintenance property provides significant income potential with high returns and minimal operational demands. The asking price is $120,000. This is a rare chance to acquire a well-established, high-performing commercial property 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
    SMITHVLE FLTS
    County
    Chenango
    State
    New York
    Longitude
    -75.8712
    Latitude
    42.4337

    Comparable in this City

    • Value Estimation by Request
      672 SF

      Curtis Ln

      MOBILE HOME PARK, TRAILER PARK • 672 SF
      Curtis Ln, Smithville Flats, NY 13841
      View Details
    • Value Estimation by Request
      840 SF

      105 Marie Ln, Unit 117

      MOBILE HOME PARK, TRAILER PARK • 840 SF
      105 Marie Ln, Smithville Flats, NY 13841-3312
      View Details
    • Value Estimation by Request
      2,000 SF

      5251 State Rte

      Land • 2,000 SF
      5251 State Rte, Smithville Flats, NY 13841
      View Details
    • Value Estimation by Request
      3,000 SF

      5259 State Hwy 41

      STORE/OFFICE (MIXED USE) • 3,000 SF
      5259 State Hwy 41, Smithville Flats, NY 13841
      View Details
    • Value Estimation by Request
      1,638 SF

      10 Round Pond Rd

      PROFESSIONAL CLUBS/ASSOCIATIONS • 1,638 SF
      10 Round Pond Rd, Smithville Flats, NY 13841
      View Details
    • Value Estimation by Request
      229 SF

      5250 Main St

      RESTAURANT • 229 SF
      5250 Main St, Smithville Flats, NY 13841
      View Details

    Similar Nearby for Sale

    • $435,000

      Versatile Property with Income Potential

      48 acres with shop, house, mobile sites, and recreation.
      114 Coleman Ln, Smithville, NY 13841
      View Details
    • $275,000
      2,000 SF

      Smithville General Store - $275K

      Profitable Retail Business, 2,000 SF
      5251 State Rte 41, Smithville Flats, NY 13841
      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.
    116 Pantry Dr
    SMITHVLE FLTS, NY 13841
    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.
    Sign Up Successful!
    You now have access to more from Realmo!