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Property profile & analytics
FOR LEASE
Super regional malls
1283 Arsenal St Watertown, NY 13601
Entity Owned
Free & Clear
Property ID
US63-0342281
For Lease
1 / 2
$1,200,000
1283 Arsenal St, Watertown, NY 13601
View Listing →
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1963
Total area
106,141 SF
Lot
25.7 ac (1,119,492 SF)
Zoning code
C
APN
221800 9-22-101.111
UPID
US63-0342281
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
-
Aqua Dental PC Dental Office
-
Heather C. Rienbeck, RPH Pharmacy
-
Robert Schaefer, RPH Pharmacy
-
Staples Travel Services (Bike/Boat/Book/etc) Store
-
Coinstar Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.20M
Owner & transaction history
Mmh Rlty Assoc III LLC
Mmh Rlty Assoc III LLC
since 2025
5 recorded transactions
Zoning & alternative use
C · Watertown, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$1.9M
+69.0%
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 Watertown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Watertown 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
NEIGHBORHOOD: SHOPPING CENTER
$1,150,000
Current use
INDUSTRIAL (GENERAL)
$1,940,000
Change: +69% · Conversion: Difficult
Blend value · Realmo final
$1.20M
Range $1.08M – $1.32M · ±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
$11 / 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
$14,500,000
Assessed 2023
Previous assessed
$14,500,000
+0.0% YoY
Assessed land
$1,424,000
Assessed improvement
$13,076,000
Land market value
$1,715,665
Improvement market value
$15,754,235
Total market value
$17,469,900
Applied tax rate
221,800.0000
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
For Lease
Year built
1963
Heating
NONE
Cooling
CENTRAL
Buildings
4
Stories
1
Total area
106,141 SF
Lot
25.7 ac (1,119,492 SF)
Zoning code
C
APN
221800 9-22-101.111
UPID
US63-0342281
Jurisdiction
JEFFERSON
Zoning & alternative use
C · Watertown, NY
Zoning C · permitted uses
C · Watertown, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Watertown. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$1.2M
INDUSTRIAL (GENERAL)
Est. value
$1.9M
NEIGHBORHOOD: SHOPPING CENTER Current
INDUSTRIAL (GENERAL)
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
1963
Heating
NONE
Cooling
Yes
Stories
1
Buildings
4
Lot
25.7 ac
Current owner
From public records · entity-resolved
Mmh Rlty Assoc III LLC
Entity
Free & Clear · 0 yrs held
Mailing address
20 CORPORATE WOODS BLVD, ALBANY, NY 12211-2396
Ownership since
2025
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
Dec 30, 2025
—
Mmh Rlty Assoc III LLC
Arsenal Plz Assoc LLC
Deed
—
Dec 23, 2024
—
Arsenal Plaza Assoc LLC
—
Deed
related
$1,200,000 · Saratoga National Bank & Trust
Sep 10, 2009
$17,683,333
Arsenal Plaza Assocs LLC
Arsenal St Associates
Grant Deed
related
—
Dec 29, 2008
—
Works Of Life Intl Minstries
Arsenal St Associates Ltd
Grant Deed
related
—
Oct 21, 2008
$600
Nys Dept Of Transportation
Arsenal St Associates Ltd
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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