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    1 Colonial Pl Ilion, NY 13357

    • Lifestyle centers
    • 840 SF
    OFF-MARKET
    Value Estimation
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 1 Colonial Pl

    Property size
    840 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This 840-square-foot vacant shopping center, located at 1 Colonial Pl, Ilion, NY 13357, presents a unique investment opportunity. Priced at $110,000 ($130.95/sq ft), this single-unit property offers high visibility on a busy street in the historic village. Originally constructed in 1985 as a credit union and later converted to an ice cream shop, the building features a full basement and central air conditioning. While most of the ice cream equipment has been sold, the space is adaptable for various uses, including offices, a hair salon, or a small restaurant. The property is a single-story building with a net rentable area of 840 square feet. The seller is open to discussing long-term lease options. This is an excellent chance to establish a business in a high-traffic location. The property is currently vacant, offering immediate occupancy. Serious inquiries are encouraged.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Ilion
    County
    Herkimer
    State
    New York
    Longitude
    -75.0378
    Latitude
    43.0166

    Comparable in this City

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      5 State St

      VEHICLE SALES, RENTALS • 2,080 SF
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    • Value Estimation
      $295,000
      3,776 SF

      108-112 Main St

      RESTAURANT • 3,776 SF
      108-112 Main St, Ilion, NY 13357
      View Details

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    1 Colonial Pl
    Ilion, NY 13357
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    Realmo Value Estimation

    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.

    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.

    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
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