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    Property profile & analytics

    5121 Ny-365 Verona, NY 13478

    • Land
    For Sale
    View listing
    $765,000
    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 5121 Ny-365

    Property type
    Land

    Description

    This exceptional 63-acre commercial-zoned property in Verona, New York, presents a unique investment opportunity. Located in Oneida County, at 5121 NY-365, with convenient access to Route 365, this expansive site is situated minutes from the renowned Turning Stone Resort Casino and directly adjacent to a 64-acre RV resort and family park. The property's strategic location ensures high visibility and accessibility, attracting significant year-round traffic. While the total acreage is nearly 63 acres, approximately 34 acres are buildable, with wetlands providing natural buffers. The diverse zoning allows for a wide range of commercial developments, including restaurants, hotels, resorts, campgrounds, and professional/medical offices. This presents a compelling opportunity for developers seeking a high-traffic location to establish a thriving business or create a destination setting that capitalizes on the area's existing tourism and recreational infrastructure. The asking price for this remarkable property is $765,000. The property's proximity to Turning Stone and the RV park offers significant potential for synergy and increased customer traffic. Don't miss this chance to acquire a premier commercial land parcel in a rapidly growing area. The zip code is 13478.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Verona
    County
    Oneida
    State
    New York
    Longitude
    -75.6017
    Latitude
    43.1103

    Comparable in this City

    • Value Estimation by Request
      1,636 SF

      5295 Church St

      COMMERCIAL (GENERAL) • 1,636 SF
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    • Value Estimation
      $1,480,000
      19,128 SF

      5585 Main St

      SHOW ROOM, WAREHOUSE • 19,128 SF
      5585 Main St, Verona, NY 13478-3539
      View Details
    • Value Estimation by Request
      1.40 Acres

      Ny Rt 49

      COMMERCIAL (GENERAL) • 1.40 Acres
      Ny Rt 49, Verona, NY 13478
      View Details
    • Value Estimation by Request
      0.75 Acres

      Ny Rt 365

      COMMERCIAL (GENERAL) • 0.75 Acres
      Ny Rt 365, Verona, NY 13478
      View Details
    • Value Estimation by Request
      16.50 Acres

      Country Dr

      MINING, MINERAL, QUARRIES • 16.50 Acres
      Country Dr, Verona, NY 13478
      View Details
    • Value Estimation by Request
      1.01 Acres

      Vacant Comm

      VACANT COMMERCIAL LAND • 1.01 Acres
      Vacant Comm, Verona, NY 13478
      View Details

    Similar Nearby for Sale

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      Verona, NY Commercial Land - 63 Acres

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      Verona Land For Sale

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    Similar Nearby for Lease

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      Verona Warehouse Spaces For Rent

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      Commercial Warehouse Spaces For Rent

      Two warehouse spaces with separate utilities and loading docks.
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    • $3,200 /Mo
      4,900 SF

      Rome Warehouse Space Available

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    5121 Ny-365
    Verona, NY 13478
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    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
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