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    114 Smith Rd Pine Valley, NY 14872

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    114 Smith Rd Pine Valley, NY 14872

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    • Warehouses
    • 29,563 SF
    • 6.08 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 114 Smith Rd

    Lot size
    6.08 lot acres
    Property size
    29,563 SF
    Property type
    Warehouses
    Property subtype
    Industrial properties

    Description

    This exceptional industrial property in Pine Valley, NY, presents a unique investment opportunity. Encompassing 29,563 square feet across three buildings on a 6.08-acre lot, this former manufacturing facility offers versatile flex space ideal for various uses. The main building, approximately 14,913 square feet, features insulated construction, two restrooms, a break room, a small office, 800 amp/440/480 volt/3-phase electric service, 14-foot clear height ceilings, radiant heat, two loading docks, and two at-grade doors. A 2,400-square-foot attached kiln is also included. The second building, a 12,250-square-foot unheated storage facility, offers 16-foot clear height ceilings, two at-grade doors, and two loading docks with ground-level ramps. Additional free-standing buildings are also part of this sale. The property boasts four total loading docks and four dock-high doors. Ceiling heights range from 16 to 18 feet. The property is zoned for industrial use and is conveniently located minutes from Route 14, providing easy access to I-86/Horseheads and Watkins Glen. The asking price is $699,000, translating to $23.64 per square foot. The property is currently vacant and ready for immediate occupancy. APN: 29.00-1-69.4.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Pine Valley
    County
    Chemung
    State
    New York
    Longitude
    -76.8331
    Latitude
    42.2301

    Comparable in this City

    • Value Estimation by Request
      4,954 SF

      3561 Watkins Rd

      VEHICLE SALES, RENTALS • 4,954 SF
      3561 Watkins Rd, Pine Valley, NY 14872-9736
      View Details
    • Value Estimation by Request
      304 SF

      3597 Watkins Rd

      MOBILE HOME PARK, TRAILER PARK • 304 SF
      3597 Watkins Rd, Pine Valley, NY 14872-9735
      View Details
    • Value Estimation by Request
      0.28 Acres

      Pne Vly Rd

      VACANT COMMERCIAL LAND • 0.28 Acres
      Pne Vly Rd, Pine Valley, NY 14872
      View Details
    • Value Estimation by Request
      1,088 SF

      3708 Watkins Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,088 SF
      3708 Watkins Rd, Pine Valley, NY 14872-9720
      View Details
    • Value Estimation by Request
      980 SF

      3597 Watkins Rd

      MOBILE HOME PARK, TRAILER PARK • 980 SF
      3597 Watkins Rd, Pine Valley, NY 14872-9735
      View Details
    • Value Estimation by Request
      3,936 SF

      3705 Watkins Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 3,936 SF
      3705 Watkins Rd, Pine Valley, NY 14872-9751
      View Details
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    114 Smith Rd
    Pine Valley, NY 14872
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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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