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    1500 Genesee St Utica, NY 13502
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    Property profile & analytics

    1500 Genesee St, Utica, NY 13502

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    • Office buildings
    • 17,562 SF
    • 0.61 lot acres
    For Sale
    $1,200,000
    View Listing →
    Utica Office Building For Sale For Sale
    $1,200,000
    17,500 SF

    Utica Office Building For Sale

    17,500 SF office building available in Utica, NY.

    1500 Genesee St, Utica, NY
    View Listing
    Property ID
    US63-0322144
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Capacity Insurance New York / Insurance Agency
    • Statutory Insurers Inc / Insurance Agency
    • Stephanie L. Gee, LCSW / Foster Care Service / Social Service Agency
    • Patil Vidya a MD / Physician
    • Mental Health Connections / Medical Clinic

    Property Details for 1500 Genesee St

    Year built
    1980
    Lot size
    0.61 lot acres
    Zone code
    DS
    Property type
    Office buildings
    APN
    301600 318.63-3-14.1
    APU
    301600318633141

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $415,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $706,000
      Market price range: $523k - $2.63M
      AI Estimate
      $445,000
      Market price range: $446k - $1.20M

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

    Location Insight

    • Map
    • Local Demand
    City
    Utica
    County
    Oneida
    State
    New York
    Longitude
    -75.2482
    Latitude
    43.0937
    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
    0
    $0.00
    $34,800
    $319,200
    $354,000
    -
    $80,930
    $742,326
    $823,256

    Comparable in this City

    • Value Estimation
      $2,450,000
      80,000 SF

      Ct St

      OFFICE BUILDING
      Ct St, Utica, NY 13502
      View Details
    • Value Estimation by Request
      10,168 SF

      404408 Ct St

      OFFICE BUILDING
      404408 Ct St, Utica, NY 13502
      View Details
    • Value Estimation
      $3,490,000
      41,760 SF

      Rear Rhoades Dr Dr

      PROFESSIONAL BUILDING
      Rear Rhoades Dr Dr, Utica, NY 13502
      View Details
    • Value Estimation
      $3,020,000
      32,388 SF

      430 Ct St

      OFFICE BUILDING
      430 Ct St, Utica, NY 13502-4289
      View Details
    • Value Estimation
      $565,000
      11,991 SF

      2090 State Rte 5th 5

      OFFICE BUILDING
      2090 State Rte 5th 5, Utica, NY 13502-7405
      View Details
    • Value Estimation by Request
      3,200 SF

      55 Wurz Ave

      OFFICE BUILDING
      55 Wurz Ave, Utica, NY 13502
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      17,500 SF

      Utica Office Building For Sale

      17,500 SF office building available in Utica, NY.
      1500 Genesee St, Utica, NY 13502
      View Details
    • Contact for pricing
      2,128 SF

      Renovated Mixed-Use Property Available

      Recently renovated mixed-use property with on-site parking and security.
      2520 Genesee St, Utica, NY 13502
      View Details
    • Contact for pricing
      25,154 SF

      Mixed-Use Corner Opportunity in Utica

      Mixed-use property with high traffic and visibility in Utica.
      1900 Genesee St, Utica, NY 13502
      View Details
    • Contact for pricing
      15,500 SF

      Multi-Tenant Facility with Apartments

      Centrally located multi-tenant facility with residential apartments and parking.
      2336 W Whitesboro St, Utica, NY 13502
      View Details
    • Contact for pricing
      6,296 SF

      Office Space Available For Rent

      Office space available for rent in Utica, NY.
      2208 Genesee St, Utica, NY 13502
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      13,000 SF

      Downtown Utica Office Space

      Classic office building in downtown Utica with available space.
      258260 Genesee St, Utica, NY 13502
      View Details
    • Contact for pricing
      39,025 SF

      Utica Business Park Office Building

      Office building in Utica Business Park with vacant space.
      126 Business Park Dr, Utica, NY 13502
      View Details
    • $399,999
      3,292 SF

      Remodeled Office Building in Utica

      Remodeled office building in high-traffic area, suitable for various uses.
      320 Herkimer Rd, Utica, NY 13502
      View Details
    • Contact for pricing
      5,900 SF

      Utica Business Park Flex Space

      Medical/office/flex space in Utica Business Park for rent.
      6 Rhoads Dr, Utica, NY 13502
      View Details
    • $1,500 /Mo

      Downtown Utica Office Space Available

      Renovated office space in Utica's Downtown Arts District.
      505 Henry St, Utica, NY 13502
      View Details
    • Contact for pricing
      3,988 SF

      Downtown Utica Retail/Office/Restaurant Space

      Remodeled downtown space ideal for retail, office, or restaurant.
      119-137 Hotel St, Utica, NY 13502
      View Details
    View Listing
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    Utica, NY 13502
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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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