Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1511 Washington St Watertown, NY 13601-9347

    • Strip malls
    • 16,420 SF
    • 1.44 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0320571
    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

    • Sunset Tae Kwon Do / Training Center / Sports School
    • John Servider - State Farm Insurance Agent / Insurance Agency
    • Watertown Vet Center / Community Center / Social Service Agency
    • Mary Chiappone / Alternative Medicine Practice / Acupuncture
    • Calia & Co. / Hair Salon

    Property Details for 1511 Washington St

    Year built
    1967
    Lot size
    1.44 lot acres
    Property size
    16,420 SF
    Zone code
    NMU
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    221800 13-23-104.002
    APU
    2218001323104002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Watertown
    County
    Jefferson
    State
    New York
    Longitude
    -75.9138
    Latitude
    43.9524
    CBSA code
    48060
    CBSA name
    WATERTOWN-FORT DRUM, 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
    $78,500
    $737,600
    $816,100
    -
    $94,583
    $888,717
    $983,300

    Comparable in this City

    • Value Estimation
      $830,000
      26,700 SF

      1851 State St

      SHOPPING CENTER, STRIP CENTER • 26,700 SF
      1851 State St, Watertown, NY 13601-3192
      View Details
    • Value Estimation by Request
      0.32 Acres

      189 Waterman Dr

      SHOPPING CENTER, STRIP CENTER • 0.32 Acres
      189 Waterman Dr, Watertown, NY 13601
      View Details
    • Value Estimation
      $520,000
      45,647 SF

      21852 Towne Ctr Dr, Unit 890

      SHOPPING CENTER, STRIP CENTER • 45,647 SF
      21852 Towne Ctr Dr, Watertown, NY 13601-5898
      View Details
    • Value Estimation by Request
      38,728 SF

      1125 Arsenal St

      SHOPPING CENTER, STRIP CENTER • 38,728 SF
      1125 Arsenal St, Watertown, NY 13601-2184
      View Details
    • Value Estimation by Request
      12,312 SF

      1222 Arsenal St

      SHOPPING CENTER, STRIP CENTER • 12,312 SF
      1222 Arsenal St, Watertown, NY 13601-2297
      View Details
    • Value Estimation
      $2,990,000
      126,386 SF

      146th Arsenal St

      SHOPPING CENTER, STRIP CENTER • 126,386 SF
      146th Arsenal St, Watertown, NY 13601-2520
      View Details

    Similar Nearby for Sale

    • $259,900

      Restaurant Opportunity Near Fort Drum

      Commercial restaurant/retail property outside city limits, prime entrepreneurial location.
      22265 Us Route 11, Pamelia, NY 13601
      View Details
    • $1,527,500
      11,340 SF

      Retail Property with Extended Lease

      Retail property with a long-term lease in place.
      301 Arsenal St, Watertown, NY 13601
      View Details
    • $1,350,000
      6,900 SF

      Watertown Retail Space - $1.35M

      Prime Watertown retail space, 6,900 sq ft, high visibility.
      18675 Rte 11, Watertown, NY 13601
      View Details
    • $299,000

      Commercial Property Near Watertown

      Profitable commercial property with retail and residential income potential.
      25592 State Route 12, Watertown, NY 13601
      View Details
    • $69,900

      Commercial Buildings on Corner Lot

      Two commercial buildings totaling 19,888 +/- Sq. Ft.
      100 Newell St, Watertown, NY 13601
      View Details
    • $450,000
      5,344 SF

      Historic Downtown Watertown Commercial Property

      Historic commercial property in downtown Watertown with high visibility and foot traffic.
      18-24 Public Sq, Watertown, NY 13601
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      4,300 SF

      Retail Space Near Fort Drum

      Neighborhood shopping center space for lease near Fort Drum.
      144 Eastern Blvd, Watertown, NY 13601
      View Details
    • Contact for pricing
      4,500 SF

      Retail Space in Watertown Center

      4,500 SF retail space available in Watertown, NY.
      1283 Arsenal St, Watertown, NY 13601
      View Details
    • $4 SF/Yr
      112,434 SF

      Prime Retail Space Available

      Retail space in regional retail corridor with high visibility.
      21082 Pioneer Plaza Dr, Watertown, NY 13601
      View Details
    • Contact for pricing
      135,395 SF

      Seaway Shopping Center: Watertown, NY

      Watertown Retail/Warehouse Space Available
      22088 Us-11, Watertown, NY 13601
      View Details
    • $35 SF/Yr
      5,071 SF

      Watertown Retail Pad Site For Lease

      Prime Watertown location, 5,071 sq ft freestanding retail building.
      21890 Towne Center Dr, Watertown, NY 13601
      View Details
    • Contact for pricing
      30,700 SF

      Watertown Retail Space Available

      Large retail space on Watertown's Arsenal Street retail corridor.
      1125 Arsenal St, Watertown, NY 13601
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1511 Washington St
    Watertown, NY 13601-9347
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.