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    126 Nelson St Cazenovia, NY 13035
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    126 Nelson St Cazenovia, NY 13035

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    • Retail properties & Spaces
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    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Pearl's Bar & Bistro / Restaurant

    Property Details for 126 Nelson St

    Year built
    2019
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional 2,176 square foot cafe space is located in the heart of Cazenovia, NY's premier retail district at 126 Nelson St (Route 20). Situated within the three-story Theophilus Cazenove Building, constructed in 2019, this single-tenant space offers excellent signage and visibility, ensuring maximum exposure to potential customers. The building features modern amenities including elevators, making it easily accessible for both staff and patrons. The property is zoned for commercial use and benefits from its strategic location near major retailers including Aldis, McDonald's, Tops grocery store, and Walgreens, guaranteeing high foot traffic and a strong customer base. This turnkey opportunity is perfect for an established cafe or a new venture looking to capitalize on a thriving commercial area. The space is ideal for a deli or cafe concept, offering ample room for seating, food preparation, and storage. Madison County location and easy access via Route 20 provide convenient access for customers and suppliers. This is a rare opportunity to secure a prime retail space in a bustling New York town.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Cazenovia
    County
    Madison
    State
    New York
    Longitude
    -75.8381
    Latitude
    42.924

    Comparable in this City

    • Value Estimation by Request

      126 Nelson St

      Restaurants
      126 Nelson St, Cazenovia, NY 13035
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    • Value Estimation by Request
      3,915 SF

      Rte 20th E

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,915 SF
      Rte 20th E, Cazenovia, NY 13035
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    • Value Estimation by Request
      10,446 SF

      37 Albany St

      RESTAURANT • 10,446 SF
      37 Albany St, Cazenovia, NY 13035-1214
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      2,850 SF

      135 Albany St

      GAS STATION • 2,850 SF
      135 Albany St, Cazenovia, NY 13035-1212
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    • Value Estimation by Request
      3,320 SF

      2567 Us Rte 20

      CAR WASH • 3,320 SF
      2567 Us Rte 20, Cazenovia, NY 13035-8446
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    • Value Estimation
      $745,000
      40,505 SF

      Nelson St

      REGIONAL SHOPPING CENTER, MALL • 40,505 SF
      Nelson St, Cazenovia, NY 13035
      View Details

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    Cazenovia, NY 13035
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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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