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    Property profile & analytics

    120 Victory Hwy Painted Post, NY 14870

    • Motels
    • 41,724 SF
    • 2.47 lot acres
    OFF-MARKET
    Last Sale
    Apr 28, 2023
    $3,512,250
    Value Estimations
    $3,455,000
    Show details
    Cap Rate Potential
    3.9%
    Motels
    Location Intelligence
    Property ID
    US63-3788200
    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

    • Motels

    Property Details for 120 Victory Hwy

    Year built
    1994
    Lot size
    2.47 lot acres
    Property size
    41,724 SF
    Zone code
    05 - COMMERCIAL
    Property type
    Motels
    APN
    464289 280.00-01-014.100
    APU
    4642892800001014100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,455,000
      ML approach
      $3,580,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Painted Post
    County
    Steuben
    State
    New York
    Longitude
    -77.1064
    Latitude
    42.1723
    CBSA code
    18500
    CBSA name
    CORNING, 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
    $367,000
    $2,448,000
    $2,815,000
    -
    $412,360
    $2,750,561
    $3,162,921

    Comparable in this City

    • Value Estimation by Request
      20,900 SF

      255 Hamilton St

      MOTEL • 20,900 SF
      255 Hamilton St, Painted Post, NY 14870-9782
      View Details
    • Value Estimation
      $790,000
      55,981 SF

      248 Town Ctr Rd

      MOTEL • 55,981 SF
      248 Town Ctr Rd, Painted Post, NY 14870-8922
      View Details
    • Value Estimation
      $850,000
      58,648 SF

      304 Hamilton St

      MOTEL • 58,648 SF
      304 Hamilton St, Painted Post, NY 14870-9702
      View Details
    • Value Estimation
      $245,000
      3,815 SF

      196 Hamilton St

      MOTEL • 3,815 SF
      196 Hamilton St, Painted Post, NY 14870-9165
      View Details
    • Value Estimation
      $465,000
      23,588 SF

      200 Robert Dann Dr

      MOTEL • 23,588 SF
      200 Robert Dann Dr, Painted Post, NY 14870-9102
      View Details
    • Value Estimation
      $280,000
      6,532 SF

      806 Addison Rd

      MOTEL • 6,532 SF
      806 Addison Rd, Painted Post, NY 14870-8523
      View Details

    Similar Nearby for Sale

    • $795,000

      Development Site Next to Dunkin

      Development site with infrastructure, ideal for hotel development.
      119 Victory Hwy, Painted Post, NY 14870
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    • $789,900
      42,000 SF

      Painted Post Industrial Warehouse

      42,000 SF Warehouse, Vacant, $789,900
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    • Contact for pricing
      0.68 Acres

      Painted Post Building Lot

      Affordable building lot in desirable Painted Post location.
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    • $170,000

      Land with Interstate 99 Frontage

      27-acre land parcel with high visibility and development potential.
      County Route 5, Lindley, NY 14870
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    • $795,000

      Commercial Land Ready For Development

      Land with infrastructure, suitable for hotel development.
      123 Victory Hwy, Painted Post, NY 14870
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    • $399,000
      5,320 SF

      Former Restaurant on 1.86 Acres

      Former restaurant with equipment, furniture, and fixtures on 1.86 acres.
      118 Victory Hwy, Painted Post, NY 14870
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,736 SF

      Retail Space on Victory Highway

      Retail space available in Painted Post, New York.
      78-98 Victory Hwy, Painted Post, NY 14870
      View Details
    • $18 SF/Yr
      12,000 SF

      Victory Highway Plaza Retail Space

      Prime Painted Post Retail/Office Opportunity
      125 Victory Hwy, Painted Post, NY 14870
      View Details
    • $18 SF/Yr
      12,000 SF

      Retail Plaza Built in 2018

      12,000 SF retail plaza with vanilla shell space available.
      125 Victory Hwy, Painted Post, NY 14870
      View Details
    • $14 SF/Yr
      5,320 SF

      Former Restaurant Space Available

      Former restaurant space with equipment, furniture, and fixtures in place.
      118 Victory Hwy, Painted Post, NY 14870
      View Details
    • $2,200 /Mo
      Pending

      Professional Office Space Available

      Office space suitable for professional, medical, or accounting practices.
      283 S Hamilton St, Painted Post, NY 14870
      View Details
    • $850 /Mo
      6,752 SF

      Office Space in House of Shops

      Office space suitable for a business start-up or small shop.
      291 S Hamilton St, Painted Post, NY 14870
      View Details
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    120 Victory Hwy
    Painted Post, NY 14870
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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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