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Property profile & analytics
OFF-MARKET
Estimated value
$1,305,000
Industrial properties
10 Hermes Rd, Ballston Spa, NY 12020-4488
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US63-5116909
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1975
Total area
23,134 SF
Lot
5.59 ac (243,500 SF)
Zoning code
C3
APN
414089 230.-1-75.12
UPID
US63-5116909
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Saratoga Technology Energy Park Business Service Center Corporate Office
-
Electric Vehicle Charging Station Electric Vehicle Charging Station
-
Applied Nanoworks Factory Production Facility
-
Nehp Inc Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.30M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$912k
Blend (final)
Blend
$1.31M
Owner & transaction history
Hermes Development LLC · 2 yrs held
Hermes Development LLC
since 2023
Last sale
$1.3M
2 recorded transactions
Zoning & alternative use
C3 · Ballston Spa, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$2.1M
+52.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Ballston Spa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ballston Spa submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,320,000
ML approach
$1,295,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,355,000
Current use
WAREHOUSE, STORAGE
$2,065,000
Change: +52% · Conversion: Easy
Blend value · Realmo final
$1.31M
Range $1.17M – $1.44M · ±10% · vs last sale $1.30M (Dec 12 2023)
Last sale anchor
$1.30M
Dec 12 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$56 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$2,300,000
Assessed 2023
Previous assessed
$2,184,000
+5.3% YoY
Assessed land
$448,600
Assessed improvement
$1,851,400
Land market value
$448,600
Improvement market value
$1,851,400
Total market value
$2,300,000
Applied tax rate
414,201.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1975
Heating
NONE
Buildings
1
Stories
1
Total area
23,134 SF
Lot
5.59 ac (243,500 SF)
Zoning code
C3
APN
414089 230.-1-75.12
UPID
US63-5116909
Jurisdiction
SARATOGA
Zoning & alternative use
C3 · Ballston Spa, NY
Zoning C3 · permitted uses
C3 · Ballston Spa, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ballston Spa. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.4M
WAREHOUSE, STORAGE
Est. value
$2.1M
INDUSTRIAL (GENERAL) Current
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1975
Heating
NONE
Stories
1
Buildings
1
Lot
5.59 ac
Current owner
From public records · entity-resolved
Hermes Development LLC
Entity
Mailing address
17 COLUMBIA CIR, ALBANY, NY 12203-5156
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 12, 2023
$1,300,000
Hermes Development LLC
Ny St Energy Rsrch & Dev
Deed
$3,100,000 · Ballston Spa National Bank
Sep 25, 2008
—
Saratoga Cty Sewer Ct 1
Nys Emergy Researc Ev Auth
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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