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Property profile & analytics
OFF-MARKET
Estimated value
$545,000
Motels
12703 State Rte 22 Canaan, NY 12029-2111
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US63-0705294
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1960
Total area
8,078 SF
Lot
36.3 ac (1,581,228 SF)
Zoning code
C-2
APN
102400 70.-1-24
UPID
US63-0705294
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$545k
Owner & transaction history
Minhas Properties INC · 19 yrs held
Minhas Properties INC
since 2007
5 recorded transactions
Zoning & alternative use
C-2 · Canaan, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
C-2 General Commercial C-3 Light Industrial B. ZONING MAP: The foregoing districts are bounded as shown on a map entitled "Zoning Map, Town of Canaan, New York", which map and the description of boundaries with the explanatory matters thereon, are attached to APPENDIX There to. C. INTERPRETATION OF LOCATION OF DISTRICT BOUNDARIES : Where uncertainty exists w…
Zone name
General Commercial
General category
COMMERCIAL
Zone area
540.13 ac
Source
TOWN OF CANAAN
Top alternative use upside
Commercial (general)
$890,000
+30.1%
Office building
$845,000
+23.4%
Auto repair, garage
$740,000
+8.1%
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 Canaan submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Canaan 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$685,000
Current use
COMMERCIAL (GENERAL)
$890,000
Change: +30% · Conversion: Difficult
OFFICE BUILDING
$845,000
Change: +23% · Conversion: Difficult
AUTO REPAIR, GARAGE
$740,000
Change: +8% · Conversion: Difficult
RETAIL STORES
$625,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$545k
Range $491k – $600k · ±10%
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
$67 / 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
Tax year 2021Property tax & assessments
Tax year 2021
Assessed value
$972,000
Assessed 2023
Previous assessed
$900,000
+8.0% YoY
Assessed land
$277,344
Assessed improvement
$694,656
Land market value
$315,164
Improvement market value
$789,381
Total market value
$1,104,545
Applied tax rate
104,801.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1960
Heating
NONE
Buildings
1
Stories
2
Total area
8,078 SF
Lot
36.3 ac (1,581,228 SF)
Zoning code
C-2
APN
102400 70.-1-24
UPID
US63-0705294
Jurisdiction
COLUMBIA
Zoning & alternative use
C-2 · Canaan, NYZoning C-2 · permitted uses
C-2 · Canaan, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
C-2 General Commercial C-3 Light Industrial B. ZONING MAP: The foregoing districts are bounded as shown on a map entitled "Zoning Map, Town of Canaan, New York", which map and the description of boundaries with the explanatory matters thereon, are attached to APPENDIX There to. C. INTERPRETATION OF LOCATION OF DISTRICT BOUNDARIES : Where uncertainty exists with respect to the boundaries of any of the districts as shown on the Zoning Map, the following rules of interpretation shall apply: 1. The district boundary lines are intended to follow Road lines, the Boston and Albany Railroad (or its successors) property lines, and natural lines such as streams wherever possible. 2. Where district boundaries are indicated as approximately parallel to the centerline of Roads, boundaries shall be considered as being parallel thereto and at such distance as indicated on the map. 3. Where a district boundary line divides a parcel in single or joint ownership of record at the time such boundary line is established, each portion of said parcel shall be governed by the zoning regulations within which it is located. 4. If there is ambiguity in determining the precise location of any District Boundary Lines, the ZBA shall, upon application, determine the location.
Zone name
General Commercial
General category
COMMERCIAL
Zone area
540.13 ac
Source
TOWN OF CANAAN
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$685,000
COMMERCIAL (GENERAL)
Est. value
$890,000
OFFICE BUILDING
Est. value
$845,000
AUTO REPAIR, GARAGE
Est. value
$740,000
RETAIL STORES
Est. value
$625,000
HOTEL/MOTEL Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
1960
Heating
NONE
Stories
2
Buildings
1
Lot
36.3 ac
Current owner
From public records · entity-resolved
Minhas Properties INC
Entity
Mailing address
12703 STATE RTE 22, CANAAN, NY 12029-2111
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 26, 2023
—
Tetrad Canaan Re LLC
—
Deed
related
$1,190,000 · Hanmi Bank
Mar 26, 2007
—
Minhas Properties INC
—
Trustees Deed
related
$70,000 · Legacy Bank
Feb 9, 2007
$950,000
Minhas Properties INC
Singh,amardeep
Grant Deed
$282,437 · Legacy Bank
—
—
Amardeep Singh
—
Deed Of Trust
related
$35,000 · Legacy Bank
—
—
Amardeep Singh
—
Deed Of Trust
related
$225,000 · Legacy Bank
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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