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    Property profile & analytics

    2381 Rte Ravena, NY 12143

    • Lifestyle centers
    • 18,432 SF
    • 1.40 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 2381 Rte

    Year built
    1993
    Lot size
    1.40 lot acres
    Property size
    18,432 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional 18,432 square foot shopping center presents a compelling investment opportunity in Ravena, New York. Located at 2381 Route 9W, this fully leased property boasts a strong 6.50% capitalization rate and offers significant potential for future growth. Built in 1993, the single-story building sits on a 1.4-acre lot and is zoned for commercial use. The property features a multi-tenant occupancy, ensuring a diversified income stream. With a total of 18,432 square feet, the asking price is $1,200,000, translating to $65.10 per square foot. The property's prime location along the busy Route 9W provides excellent visibility and accessibility, placing it within the area's thriving business district. The Albany County address (APN 168.9-2-5.1) and zip code 12143 further solidify its strategic positioning. This is a rare opportunity to acquire a high-performing, fully occupied retail center with a proven track record and significant upside potential. The property's strong occupancy rate and desirable location make it an ideal addition to any investment portfolio.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Ravena
    County
    Albany
    State
    New York
    Longitude
    -73.8188
    Latitude
    42.4735

    Comparable in this City

    • Value Estimation
      $175,000
      11,068 SF

      2463 Us Rte 9w

      MINI-MALL • 11,068 SF
      2463 Us Rte 9w, Ravena, NY 12143-2610
      View Details
    • Value Estimation
      $315,000
      77,199 SF

      2480 Us Rte 9w

      SHOPPING CENTER, STRIP CENTER • 77,199 SF
      2480 Us Rte 9w, Ravena, NY 12143-2860
      View Details
    • Value Estimation
      $215,000
      10,944 SF

      2546 Us Rte 9w

      SHOPPING CENTER, STRIP CENTER • 10,944 SF
      2546 Us Rte 9w, Ravena, NY 12143
      View Details
    • Value Estimation
      $250,000
      18,432 SF

      2381 Us Rte 9w

      SHOPPING CENTER, STRIP CENTER • 18,432 SF
      2381 Us Rte 9w, Ravena, NY 12143-2624
      View Details
    • Value Estimation
      $200,000
      2,408 SF

      2327 Us Rte 9w

      FINANCIAL BUILDING • 2,408 SF
      2327 Us Rte 9w, Ravena, NY 12143
      View Details
    • Value Estimation
      $200,000
      2,340 SF

      2438 Us Rte 9w

      RETAIL STORES (PERSONAL SERVICES) • 2,340 SF
      2438 Us Rte 9w, Ravena, NY 12143-2609
      View Details

    Similar Nearby for Sale

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      1.92 Acres

      Ravena Mixed-Use Investment Opportunity

      Prime Ravena location, 1.92 acres, high potential.
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    • Contact for pricing

      Level Lot in Ravena Village

      Level 0.32 acre lot with utilities available and flexible zoning.
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    • $325,000

      Waterfront Land with Recreational Potential

      Land with over 3,000 feet of Hannacroix Creek frontage.
      111 Blossom Hill Rd, Ravena, NY 12143
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    • $1,500,000
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      Ravena Mixed-Use Investment

      High-return 8-unit property, 13,648 SF
      2530-2534 9W Rte, Ravena, NY 12143
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    • $1,500,000
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      Ravena Mixed-Use Investment Opportunity

      High-yield property with renovated apartments & warehouse.
      Rte, Ravena, NY 12143
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    • New
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      Ravena Multifamily Investment Opportunity

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      96 Main St, Ravena, NY 12143
      View Details
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    Ravena, NY 12143
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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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