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    Property profile & analytics

    56 Main St Massena, NY 13662

    • Investment properties
    • 5,868 SF
    • 0.07 lot acres
    For Sale
    View listing
    $29,900
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2249031
    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

    • Downtown Outreach Center / Youth Organization

    Property Details for 56 Main St

    Year built
    1940
    Lot size
    0.07 lot acres
    Property size
    5,868 SF
    Zone code
    CBD
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    405801 9.067-1-6
    APU
    405801906716

    Description

    This 2,958 sq ft commercial building at 56 1/2 Main St, Massena, NY, presents a unique investment opportunity. Previously housing the Courier Observer, this property boasts convenient downtown location, next to Town Hall and the Massena Police Department. Ample public parking is available, and the building offers direct dock access. Located within the Downtown Revitalization Initiative (DRI) zone, the property has already received funding through the Core of the Community Grant and the IDA. While future grant applications would need to be submitted by a new owner, this pre-existing funding provides a significant advantage. The versatile space, offering 2,958 square feet, is ideal for a wide range of commercial uses. Imagine a sandwich shop, indoor skateboarding park, small concert venue, arts center, martini bar, dance studio, retail shop, office space, or comedy club – the possibilities are endless. This is a chance to be part of Massena's downtown revitalization and create a thriving business in a prime location. The property sits on a 0-acre lot. The asking price is $29,900. Don't miss this chance to own a piece of Massena's history and shape its future.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $250,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $281,000
      Market price range: $282k - $856k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Massena
    County
    St. Lawrence
    State
    New York
    Longitude
    -74.8936
    Latitude
    44.9314
    CBSA code
    36300
    CBSA name
    OGDENSBURG-MASSENA, NY MICROPOLITAN 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
    0
    $0.00
    $17,000
    $18,000
    $35,000
    -
    $20,732
    $21,951
    $42,683

    Comparable in this City

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      $260,000
      2,880 SF

      272 Orvis St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,880 SF
      272 Orvis St, Massena, NY 13662-2354
      View Details
    • Value Estimation
      $210,000
      1,680 SF

      14 Hospital Dr

      OFFICE/RESIDENTIAL (MIXED USE) • 1,680 SF
      14 Hospital Dr, Massena, NY 13662-1019
      View Details
    • Value Estimation
      $205,000
      6,516 SF

      Massena, NY 13662

      OFFICE/RESIDENTIAL (MIXED USE) • 6,516 SF
      Massena, NY 13662
      View Details
    • Value Estimation
      $205,000
      1,386 SF

      75 Ames St

      OFFICE/RESIDENTIAL (MIXED USE) • 1,386 SF
      75 Ames St, Massena, NY 13662-1338
      View Details
    • Value Estimation
      $230,000
      2,204 SF

      26 Andrews St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,204 SF
      26 Andrews St, Massena, NY 13662-1804
      View Details
    • Value Estimation
      $105,000
      1,872 SF

      212 Highland Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,872 SF
      212 Highland Rd, Massena, NY 13662-4285
      View Details

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    • Contact for pricing
      548,856 SF

      Massena Commercial Land Opportunity

      Prime 12.6-acre commercial lot, build-to-suit.
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      View Details
    • Contact for pricing
      11,130 SF

      Former Pharmacy in Downtown Massena

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      View Details
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    56 Main St
    Massena, NY 13662
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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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