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    Property profile & analytics

    2022 State Route 32 Modena, NY 12548

    • Commercial real estate
    • 3.40 lot acres
    For Sale
    View listing
    $250,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 2022 State Route 32

    Lot size
    3.40 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 3.4-acre commercial land parcel presents a remarkable opportunity for investors and developers. Strategically located on State Route 32 in Modena, NY, this property boasts unparalleled visibility and accessibility due to its position near high-traffic businesses such as Stewart's, Dunkin' Donuts, Hannaford, and Dollar General. The site's prime location ensures significant exposure to a substantial daily traffic flow, making it ideal for a wide range of commercial ventures. The property includes two adjacent parcels, 101.1-2-16 and 17.1, totaling 3.4 acres. The zoning designation, BD-60/Light Business, allows for diverse commercial uses, providing flexibility for various development plans. While there are two existing structures on the property, they are currently in disrepair and may be considered for demolition or renovation depending on the chosen development. The property's frontage on State Route 32, coupled with its proximity to the intersection of State Routes 44/55, further enhances its strategic value and potential for attracting customers and clients. This is a rare opportunity to acquire a significant commercial land parcel in a thriving hamlet with excellent growth prospects. The asking price is $250,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Modena
    County
    Ulster County
    State
    New York
    Longitude
    -74.109
    Latitude
    41.6622

    Comparable in this City

    • Value Estimation by Request
      1,360 SF

      1938 Rte 44th 55

      COMMERCIAL (GENERAL) • 1,360 SF
      1938 Rte 44th 55, Modena, NY 12548-5208
      View Details
    • Value Estimation by Request
      1,636 SF

      1982 State Route 32

      Commercial real estate • 1,636 SF
      1982 State Route 32, Modena, NY 12548
      View Details
    • Value Estimation by Request
      0.27 Acres

      Rt 44th 55

      OFFICE BUILDING • 0.27 Acres
      Rt 44th 55, Modena, NY 12548
      View Details
    • Value Estimation
      $1,515,000
      34,640 SF

      2066 State Rte 32

      GROCERY, SUPERMARKET • 34,640 SF
      2066 State Rte 32, Modena, NY 12548-5014
      View Details
    • Value Estimation
      $500,000
      9,100 SF

      1280 Rt 32

      RETAIL STORES (PERSONAL SERVICES) • 9,100 SF
      1280 Rt 32, Modena, NY 12548
      View Details
    • Value Estimation
      $700,000
      4,480 SF

      1741-1743 Rt 44

      OFFICE/RESIDENTIAL (MIXED USE) • 4,480 SF
      1741-1743 Rt 44, Modena, NY 12548
      View Details

    Similar Nearby for Sale

    • $250,000
      3.40 Acres

      High-Visibility Modena Commercial Land

      3.4 Acres, Prime Location, High Traffic
      2022 State Route 32, Modena, NY 12548
      View Details
    • $1,450,000

      19.30 Acres Commercial Land Available

      Commercial land with mixed-use steel building and junkyard license.
      90 Freetown Rd, Wallkill, NY 12548
      View Details
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    2022 State Route 32
    Modena, NY 12548
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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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