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    Property profile & analytics

    324 Prospect St North Herkimer, NY 13350

    • Banks
    • 3,173 SF
    • 0.38 lot acres
    For Sale
    View listing
    $425,000
    Value Estimation
    Last Sale
    Jul 01, 2021
    $451,500
    Location Intelligence
    Property ID
    US63-1239755
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Banks

    Property Details for 324 Prospect St North

    Year built
    1974
    Lot size
    0.38 lot acres
    Property size
    3,173 SF
    Zone code
    C3
    Property type
    Banks
    APN
    213001 113.81-6-31
    APU
    21300111381631

    Description

    This exceptional 6,115-square-foot commercial property, located at 324 N Prospect Street in Herkimer, NY, presents a unique investment opportunity. Previously a bank, this single-tenant building boasts a desirable location in Herkimer's business district. The property features a convenient drive-thru, ample parking on a 16,692 square foot lot, and a versatile open layout adaptable to various business needs. The building offers approximately 3,000 square feet on each of its two levels. A full basement provides substantial additional space, including mechanical rooms, employee restrooms, a meeting room, a break room, and ample storage. This well-maintained property is ideal for businesses seeking a prominent presence in a thriving community. The property is also available for sale at $600,000 (MLS# S1575443). Located in Herkimer County, New York, with zip code 13350, this property offers a rare combination of size, location, and amenities. Don't miss this chance to secure a prime commercial space in a vibrant and growing area.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $465,000

    • CAP approach

      CAP return
      Estimation
      6%
      $425,000
      6.5%
      $470,000
      7%
      $445,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $420,000
      Geo Method
      $415,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $510,000
      Retail
      $410,000
      Mixed-Use
      $435,000
      Hospitality
      $475,000
      Educational
      $425,000
      Residential Income
      $400,000
      Energy
      $500,000
      Income-Based Land
      $525,000
      Food Service
      $455,000

    Location Insight

    • Map
    • Local Demand
    City
    Herkimer
    County
    Herkimer
    State
    New York
    Longitude
    -74.99
    Latitude
    43.028
    CBSA code
    46540
    CBSA name
    UTICA-ROME, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2020
    $23,187
    $30,900
    $350,200
    $381,100
    -
    $45,441
    $515,000
    $560,441

    Comparable in this City

    • Value Estimation
      $290,000
      5,002 SF

      214 Washington St

      FINANCIAL BUILDING • 5,002 SF
      214 Washington St, Herkimer, NY 13350-2013
      View Details
    • Value Estimation
      $215,000
      4,778 SF

      100 Henry St

      FINANCIAL BUILDING • 4,778 SF
      100 Henry St, Herkimer, NY 13350
      View Details
    • Value Estimation by Request
      14,314 SF

      160 Main St

      FINANCIAL BUILDING • 14,314 SF
      160 Main St, Herkimer, NY 13350-1917
      View Details
    • Value Estimation
      $535,000
      8,000 SF

      319 Main St

      FINANCIAL BUILDING • 8,000 SF
      319 Main St, Herkimer, NY 13350-1840
      View Details
    • Value Estimation
      $565,000
      2,918 SF

      399 Albany St

      FINANCIAL BUILDING • 2,918 SF
      399 Albany St, Herkimer, NY 13350-2031
      View Details
    • Value Estimation
      $260,000
      2,944 SF

      103 Henry St

      FINANCIAL BUILDING • 2,944 SF
      103 Henry St, Herkimer, NY 13350
      View Details

    Similar Nearby for Sale

    • $425,000
      3,173 SF

      Former Bank Building For Sale

      3,173 SF former bank building with drive-thru.
      324 Prospect St North, Herkimer, NY 13350
      View Details
    • $179,000

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      Office/Medical/Retail Building For Sale

      Corner lot building in busy retail corridor, high visibility.
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    • Contact for pricing
      2,400 SF

      Herkimer Commercial Property for Sale

      Prime commercial real estate in Herkimer, New York.
      105-107 S Washington St, Herkimer, NY 13350
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    Similar Nearby for Lease

    • Contact for pricing
      3,173 SF

      Former Bank Building For Lease

      3,173 SF former bank building available for lease.
      324 Prospect St North, Herkimer, NY 13350
      View Details
    • $1,400,000
      7,800 SF

      Retail Space with High Visibility

      Retail space available for rent with high traffic location.
      100-548 W Albany St, Herkimer, NY 13350
      View Details
    • $12 SF/Yr
      3,150 SF

      Retail Space in Herkimer, NY

      Retail space available in high-traffic Herkimer neighborhood center.
      316-336 E State St, Herkimer, NY 13350
      View Details
    • Contact for pricing
      6,115 SF

      Herkimer Commercial Space - Prime Location

      Former bank, 6115 sq ft, drive-thru.
      324 Prospect St, Herkimer, NY 13350
      View Details
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    Herkimer, NY 13350
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    Realmo Value Estimation

    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.

    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.

    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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