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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4723 State Hwy Corinth, NY 12822

    • Commercial real estate
    • 2.00 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 4723 State Hwy

    Year built
    1950
    Lot size
    2.00 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 2-acre parcel, located at 4723 State Highway 9N in Corinth, New York, presents a unique opportunity for investors and developers. The property's expansive size offers significant potential for a variety of uses, subject to local zoning regulations. Its strategic location along State Highway 9N provides excellent visibility and accessibility, making it an attractive site for commercial ventures or potential residential development. The land is currently undeveloped, offering a blank canvas for a customized project. Prospective buyers are encouraged to conduct their own due diligence regarding zoning regulations, permitted uses, and potential development costs. This property is being offered at an attractive price point of $229,000, representing a compelling investment opportunity in a growing area. The absence of existing structures allows for complete design flexibility, enabling the creation of a project tailored to specific needs and vision. Serious inquiries are welcome. Detailed information regarding the property's legal description and survey data is available upon request. This is a rare chance to acquire a significant land holding in a desirable location with considerable upside potential. Don't miss this chance to secure this prime piece of real estate.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Corinth
    County
    Saratoga
    State
    New York
    Longitude
    -73.8566
    Latitude
    43.2529

    Comparable in this City

    • Value Estimation by Request
      1,568 SF

      102 County Rte 10

      COMMERCIAL (GENERAL) • 1,568 SF
      102 County Rte 10, Corinth, NY 12822-2523
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    • Value Estimation by Request
      1.90 Acres

      511 Main St

      COMMERCIAL (GENERAL) • 1.90 Acres
      511 Main St, Corinth, NY 12822-1409
      View Details
    • Value Estimation
      $505,000
      9,576 SF

      215 Main St

      COMMERCIAL (GENERAL) • 9,576 SF
      215 Main St, Corinth, NY 12822-1117
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    • Value Estimation by Request
      1,500 SF

      126 Maple St

      COMMERCIAL (GENERAL) • 1,500 SF
      126 Maple St, Corinth, NY 12822-1026
      View Details
    • Value Estimation by Request
      5.38 Acres

      68 Heath Rd

      Land • 5.38 Acres
      68 Heath Rd, Corinth, NY 12822
      View Details
    • Value Estimation by Request
      1.54 Acres

      315 Maple St

      COMMERCIAL (GENERAL) • 1.54 Acres
      315 Maple St, Corinth, NY 12822
      View Details

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    4723 State Hwy
    Corinth, NY 12822
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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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