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    11 State Rte Parish, NY 13131
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    11 State Rte Parish, NY 13131

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    • Land
    • 128.50 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 11 State Rte

    Lot size
    128.50 lot acres
    Property type
    Land

    Description

    This exceptional 128.5-acre parcel presents a remarkable opportunity for residential development in the thriving village of Central Square, Oswego County, New York. Located conveniently on State Route 11, this expansive property is zoned for mixed use, offering significant potential for a variety of residential projects. The land comprises three adjacent parcels (tax map numbers 353289-293-000-0002-003-100-0000, 353289-276-000-0005-006-310-0000, and 353289-293-000-0002-002-010-0000), totaling approximately 128.5 acres. Previous due diligence work has been completed for a subdivision, streamlining the development process for the buyer. Public water and National Grid services are already capped on-site, further enhancing the property's appeal and reducing infrastructure costs. This is an ideal location to address the area's need for new residential housing. The asking price for this significant landholding is $1,500,000. This represents a unique chance to acquire a substantial tract of land in a desirable location, poised for immediate development. The property's size and strategic location make it an attractive investment for developers and builders seeking to capitalize on the growing demand for residential properties in Central Square, NY. The convenient access to State Route 11 ensures excellent connectivity and accessibility. Don't miss this chance to acquire a large, well-situated parcel ready for development.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Parish
    County
    Oswego
    State
    New York
    Longitude
    -76.1548
    Latitude
    43.4323

    Comparable in this City

    • Value Estimation by Request
      720 SF

      207 Crosby Rd

      MOBILE HOME PARK, TRAILER PARK • 720 SF
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    • Value Estimation by Request
      2,541 SF

      2588 Us Rte 11

      MOBILE HOME PARK, TRAILER PARK • 2,541 SF
      2588 Us Rte 11, Parish, NY 13131-4228
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    • Value Estimation by Request
      1,064 SF

      1580 State Rte 69

      MOBILE HOME PARK, TRAILER PARK • 1,064 SF
      1580 State Rte 69, Parish, NY 13131
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    • Value Estimation by Request
      1,968 SF

      349 Churchill Rd

      CAMPGROUND, RV PARK • 1,968 SF
      349 Churchill Rd, Parish, NY 13131
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    • Value Estimation by Request
      5,375 SF

      132 Crim Rd

      CAMPGROUND, RV PARK • 5,375 SF
      132 Crim Rd, Parish, NY 13131-3175
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    • Value Estimation by Request
      0.85 Acres

      Un St

      VACANT COMMERCIAL LAND • 9,196 SF
      Un St, Parish, NY 13131
      View Details

    Similar Nearby for Sale

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      Pastoral Land Near Parish, NY

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    • $50,000
      7.10 Acres

      7.10 Acres in Parish, NY

      7.10-acre property with cleared and wooded land and pond.
      N Railroad St, Parish, NY 13131
      View Details
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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.

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