Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    110 State St Herkimer, NY 13350

    • Investment properties
    • 8,680 SF
    • 0.96 lot acres
    For Sale
    View listing
    $2,000,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0599104
    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

    • Dollar General / Drug Store / Variety Store
    • Western Union / Money Transfer Service

    Property Details for 110 State St

    Year built
    1960
    Lot size
    0.96 lot acres
    Property size
    8,680 SF
    Zone code
    C
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    213001 120.25-4-57
    APU
    21300112025457

    Description

    This exceptional investment opportunity presents a fee-simple ownership of a 13,798 square foot retail property in Herkimer, NY. The property boasts two buildings situated on a 1.09-acre lot, featuring a Dollar General store as the anchor tenant. The Dollar General lease, a single-tenant, double net (NN) agreement, has approximately 2.5 years remaining on the base term with four, three-year lease options, each including rent bumps. The property also includes an additional building currently housing other businesses. Built in 2002 and renovated in 2012, the property offers 24 parking spaces and enjoys a prime location on a high-traffic section of State Street, with over 23,000 vehicles passing daily. The strong demographics of the area, with over 26,000 people within a 5-mile radius and an average annual household income exceeding $63,000, contribute to the property's significant potential. The property's location within a thriving retail corridor, near national brands like Lowe's and McDonald's, further enhances its value. This presents a compelling value-add opportunity, with potential for future development or owner-operator use. The asking price is $2,000,000. The property's current net operating income is $59,884. This is a Class A property with excellent visibility and strong tenant occupancy.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,465,000
      6.5%
      $1,350,000
      7%
      $1,255,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,261,000
      Market price range: $209k - $1.26M
      AI Estimate
      $956,000
      Market price range: $389k - $957k

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

    Location Insight

    • Map
    • Local Demand
    City
    Herkimer
    County
    Herkimer
    State
    New York
    Longitude
    -74.9848
    Latitude
    43.0255
    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
    $27,891
    $185,400
    $273,000
    $458,400
    -
    $272,647
    $401,471
    $674,118

    Comparable in this City

    • Value Estimation by Request
      1,156 SF

      109 Park Ave

      STORE/OFFICE (MIXED USE) • 1,156 SF
      109 Park Ave, Herkimer, NY 13350-1904
      View Details
    • Value Estimation by Request
      3,442 SF

      118 Washington St

      STORE/OFFICE (MIXED USE) • 3,442 SF
      118 Washington St, Herkimer, NY 13350-2020
      View Details
    • Value Estimation by Request
      1,750 SF

      218 Grn St

      STORE/OFFICE (MIXED USE) • 1,750 SF
      218 Grn St, Herkimer, NY 13350-2003
      View Details
    • Value Estimation by Request
      2,176 SF

      394 State St

      STORE/OFFICE (MIXED USE) • 2,176 SF
      394 State St, Herkimer, NY 13350-2026
      View Details
    • Value Estimation
      $1,095,000
      8,000 SF

      101 Caroline St

      STORE/OFFICE (MIXED USE) • 8,000 SF
      101 Caroline St, Herkimer, NY 13350-1716
      View Details
    • Value Estimation by Request
      2,190 SF

      205 Delaware Ave

      STORE/OFFICE (MIXED USE) • 2,190 SF
      205 Delaware Ave, Herkimer, NY 13350-2224
      View Details

    Similar Nearby for Sale

    • $179,000
      Pending

      Herkimer Investment Opportunity

      Storefront building in downtown Herkimer revitalization zone.
      147 N Main St, Herkimer, NY 13350
      View Details
    • $85,000
      2,200 SF

      Herkimer Mixed-Use Building For Sale

      Multi-use building in a well-traveled commercial location.
      118 North Prospect St, Herkimer, NY 13350
      View Details
    • $549,000
      6,696 SF

      Mixed-Use Building with Retail Showroom

      Mixed-use building with retail showroom and warehouse space for sale.
      218 Caroline St South, Herkimer, NY 13350
      View Details
    • $55,000
      0.03 Acres

      Herkimer Mixed-Use Investment Opportunity

      Prime Herkimer location, 0.03-acre lot, $55,000.
      135 Main St, Herkimer, NY 13350
      View Details
    • $600,000
      0.81 Acres

      Herkimer Commercial Land - $600K

      Prime 0.81-acre commercial pad site.
      105 Washington St, Herkimer, NY 13350
      View Details
    • $600,000
      6,115 SF

      Herkimer Retail Space - $600,000

      Prime Herkimer retail space, 6,115 sq ft, excellent condition.
      324 Prospect St, Herkimer, NY 13350
      View Details

    Similar Nearby for Lease

    • $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
    • 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
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    110 State St
    Herkimer, NY 13350
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.