Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2591 Ny-7 Otego, NY 13825
    Back to Search
    Property profile & analytics

    2591 Ny-7 Otego, NY 13825

    View on Map
    • Retail properties & Spaces
    • 29,100 SF
    • 80.91 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 2591 Ny-7

    Year built
    2006
    Lot size
    80.91 lot acres
    Property size
    29,100 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This exceptional commercial property in Otego, NY, presents a unique investment opportunity. The 80.91-acre lot features three buildings totaling 29,100 square feet, offering diverse uses. A former automotive restoration facility (20,000 sq ft) with a 4,000 sq ft operating car wash (business included in sale) provides immediate cash flow. A third building (5,100+ sq ft) includes 2,600 sq ft of garage/warehouse space and a 2,500 sq ft sandblast area. The property also boasts a 9,100 sq ft Class-A lobby/office/showroom with high-end finishes, including ceramic tile and wood wainscoting, multiple offices, a conference room, showroom, breakroom with kitchen/baths/shower, and a parts/store room. A 4,900 sq ft repair shop features radiant heat and supplemental recycled oil heating. Multiple overhead doors and 16' high ceilings offer versatility. A 7,000 sq ft clean room, machine shop, paint booth, detailing area, and mechanic's shop complete the complex. The property includes a 130-space parking lot with heated entry sidewalks. Zoned for residential, agricultural, and various commercial uses with a Special Use Permit. Asking price: $1,750,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Otego
    County
    Otsego
    State
    New York
    Longitude
    -75.2287
    Latitude
    42.3684

    Comparable in this City

    • Value Estimation by Request
      2,408 SF

      3777 State Hwy 7th 7

      AUTO REPAIR, GARAGE • 2,408 SF
      3777 State Hwy 7th 7, Otego, NY 13825-3211
      View Details
    • Value Estimation by Request
      4,040 SF

      337 County Hwy 48

      AUTO REPAIR, GARAGE • 4,040 SF
      337 County Hwy 48, Otego, NY 13825
      View Details
    • Value Estimation by Request
      2,016 SF

      234 County Hwy 7th 7

      AUTO REPAIR, GARAGE • 2,016 SF
      234 County Hwy 7th 7, Otego, NY 13825-2206
      View Details
    • Value Estimation by Request
      3,456 SF

      167 County Hwy 48

      AUTO REPAIR, GARAGE • 3,456 SF
      167 County Hwy 48, Otego, NY 13825-3106
      View Details
    • Value Estimation by Request
      1,960 SF

      399 County Hwy 48

      AUTO REPAIR, GARAGE • 1,960 SF
      399 County Hwy 48, Otego, NY 13825-3120
      View Details
    • Value Estimation by Request
      2,400 SF

      173 Ml Crk Rd

      AUTO REPAIR, GARAGE • 2,400 SF
      173 Ml Crk Rd, Otego, NY 13825-3208
      View Details

    Similar Nearby for Sale

    • $295,000
      7,830 SF

      Restaurant and Income Property Opportunity

      Restaurant with rental income potential on 3.6 acres.
      212 Main St, Otego, NY 13825
      View Details
    • $295,000
      10,784 SF

      Restaurant and Residential Income Opportunity

      Restaurant with rental units on 3.6 acres near Interstate.
      212 Main St, Otego, NY 13825
      View Details
    • $96,500
      22.14 Acres

      Otego Land for Recreational Activities

      22.14 acres of wooded land perfect for recreation and building.
      2 And 3, Otego, NY 13825
      View Details
    • New
      Contact for pricing
      Pending

      Otego Building Lot For Sale

      Desirable 0.39 acre building lot in Otego, NY.
      16 Diane Dr, Otego, NY 13825
      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.
    2591 Ny-7
    Otego, NY 13825
    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

    Thank You for Inquiry
    2591 Ny-7, Otego, NY, 13825
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!