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    151 Rte 28 Inlet, NY 13360

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    151 Rte 28 Inlet, NY 13360

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    • Investment properties
    • 1,300 SF
    • 0.53 lot acres
    Off-Market
    Last Sale Apr 25, 2024
    $215,000
    Property ID
    US63-3662893
    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

    • Investment properties

    Property Details for 151 Rte 28

    Year built
    1928
    Lot size
    0.53 lot acres
    Property size
    1,300 SF
    Zone code
    C3
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    202800 59.016-2-13.111
    APU
    20280059016213111

    Description

    This unique mixed-use property in Inlet, NY, presents a fantastic investment opportunity. The main attraction is "The Caboose," a charming and profitable panini shop housed in a repurposed railroad caboose. The fully equipped kitchen is ready for immediate operation, boasting a successful track record. Outdoor seating options include covered and uncovered patios, plus a shared dining tent with a neighboring establishment. The business operates daily during peak summer months and four days a week during the shoulder seasons (spring and fall). Included in the sale is a spacious 1,561 square foot, three-bedroom, one-and-a-half-bathroom home situated on a 0.44-acre lot. This residence, currently utilized as a short-term rental, offers versatile potential as owner/manager housing or employee accommodation. The home features a bonus room and a screened-in porch, adding to its appeal and functionality. The property's prime location in Inlet, NY, ensures high visibility and consistent customer traffic, making this a truly exceptional turnkey business and residential package. The asking price is $584,500. This is a rare opportunity to acquire a thriving business and comfortable living space in a desirable Adirondack setting.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Inlet
    County
    Hamilton
    State
    New York
    Longitude
    -74.7934
    Latitude
    43.7519

    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
    $2,087
    $45,137
    $223,613
    $268,750
    -
    $45,137
    $223,613
    $268,750

    Comparable in this City

    • Value Estimation
      $530,000
      9,452 SF

      167 Rte 28

      OFFICE/RESIDENTIAL (MIXED USE) • 9,452 SF
      167 Rte 28, Inlet, NY 13360-1503
      View Details
    • Value Estimation by Request
      1,745 SF

      159 Rte 28

      OFFICE/RESIDENTIAL (MIXED USE) • 1,745 SF
      159 Rte 28, Inlet, NY 13360
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    • Value Estimation by Request
      4,376 SF

      161 Rte 28

      OFFICE/RESIDENTIAL (MIXED USE) • 4,376 SF
      161 Rte 28, Inlet, NY 13360-1603
      View Details
    • Value Estimation by Request
      5,536 SF

      169 Rte 28

      OFFICE/RESIDENTIAL (MIXED USE) • 5,536 SF
      169 Rte 28, Inlet, NY 13360
      View Details
    • Value Estimation by Request
      8,057 SF

      153 Rte 28

      OFFICE/RESIDENTIAL (MIXED USE) • 8,057 SF
      153 Rte 28, Inlet, NY 13360-1603
      View Details
    • Value Estimation by Request
      4,424 SF

      165 Rte 28

      OFFICE/RESIDENTIAL (MIXED USE) • 4,424 SF
      165 Rte 28, Inlet, NY 13360
      View Details
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    Inlet, NY 13360
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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.

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    151 Rte 28, Inlet, NY, 13360

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