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    2433 Main St Lake Placid, NY 12946
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    2433 Main St, Lake Placid, NY 12946

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    • Retail properties & Spaces
    • 500 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • A Pinch or A Pound / Specialty Food Shop / Candy Store

    Property Details for 2433 Main St

    Year built
    1907
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This 500-square-foot storefront at 2433 Main Street in Lake Placid, NY, presents a unique investment opportunity. Built in 1907, this commercially zoned property boasts a prime location within the bustling Olympic Village, ensuring high foot traffic. The building features block and brick construction, a rolled/hot mop roof, and a block foundation. Heating is provided by an oil system, while cooling is handled by wall units. The property benefits from 200+ amp electric service, along with readily available internet, sewer, and water connections. Tenants are responsible for electricity, insurance, and water expenses. The asking price is $95,000, translating to a land value of $190 per square foot. This listing is for the business and inventory only

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lake Placid
    County
    Essex
    State
    New York
    Longitude
    -73.985
    Latitude
    44.2905

    Comparable in this City

    • Value Estimation
      $535,000
      10,752 SF

      2733 Main St Ste, Unit 1

      RETAIL STORES (PERSONAL SERVICES)
      2733 Main St Ste, Lake Placid, NY 12946-3318
      View Details
    • Value Estimation by Request
      5,167 SF

      8 Whiteface Inn Ln

      RETAIL STORES (PERSONAL SERVICES)
      8 Whiteface Inn Ln, Lake Placid, NY 12946-1274
      View Details
    • Value Estimation
      $505,000
      9,060 SF

      5730 Cascade Rd, Unit 1

      RETAIL STORES (PERSONAL SERVICES)
      5730 Cascade Rd, Lake Placid, NY 12946-4159
      View Details
    • Value Estimation
      $650,000
      11,082 SF

      2140 Saranac Ave

      RETAIL STORES (PERSONAL SERVICES)
      2140 Saranac Ave, Lake Placid, NY 12946-1149
      View Details
    • Value Estimation by Request
      4,500 SF

      255 Sta St

      RETAIL STORES (PERSONAL SERVICES)
      255 Sta St, Lake Placid, NY 12946-1950
      View Details
    • Value Estimation by Request
      11,200 SF

      1923 Saranac Ave

      RETAIL STORES (PERSONAL SERVICES)
      1923 Saranac Ave, Lake Placid, NY 12946-1172
      View Details

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    • Contact for pricing
      1,268 SF

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    Lake Placid, NY 12946
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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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