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    Grant Ave Auburn, NY 13021
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    Grant Ave Auburn, NY 13021

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    • Retail properties & Spaces
    • 3.84 lot acres
    For Sale
    $575,000
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    Auburn Mixed-Use Redevelopment For Sale
    $575,000

    Auburn Mixed-Use Redevelopment

    3.84 Acres, High-Traffic Location

    0 Grant Ave, Auburn, NY 13021
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 Grant Ave

    Lot size
    3.84 lot acres
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional redevelopment opportunity encompasses four parcels totaling 3.84 acres on Grant Avenue (NY Route 5) in Auburn, NY. Boasting 253 feet of road frontage, this prime location sits within Auburn's main retail corridor, surrounded by major retailers including Walmart, Lowe's, BJ's, Bass Pro Shops, and Wegmans. The property's HC zoning permits diverse uses, making it ideal for retail, office, or mixed-use development. High traffic counts of 25,143 vehicles per day on Grant Avenue ensure significant visibility and accessibility. The vacant land presents a blank canvas for a lucrative investment, offering substantial potential for a developer seeking to capitalize on this strategic location and high-traffic area. The asking price is $575,000. This is a rare chance to acquire a substantial parcel in a thriving retail hub. The property is currently vacant, allowing for immediate development.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Auburn
    County
    Cayuga
    State
    New York
    Longitude
    -76.552
    Latitude
    42.9431

    Comparable in this City

    • Value Estimation by Request
      0.25 Acres

      25 Seminary Ave

      Retail properties & Spaces • 0.25 Acres
      25 Seminary Ave, Auburn, NY 13021
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      31,300 SF

      83 Genesee St

      Restaurants • 31,300 SF
      83 Genesee St, Auburn, NY 13021
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    • Value Estimation by Request
      3,948 SF

      7368 Owasco Rd

      NURSERY, GREENHOUSE, FLORIST • 3,948 SF
      7368 Owasco Rd, Auburn, NY 13021-5112
      View Details
    • Value Estimation by Request
      9,012 SF

      141 Dunning Ave

      NURSERY, GREENHOUSE, FLORIST • 9,012 SF
      141 Dunning Ave, Auburn, NY 13021-4407
      View Details
    • Value Estimation by Request

      286 Grant Ave

      Automotive properties
      286 Grant Ave, Auburn, NY 13021
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      27,800 SF

      64 South St

      Office Units • 27,800 SF
      64 South St, Auburn, NY 13021
      View Details

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    Auburn, NY 13021
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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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