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

    1596 State Rte 414 Watkins Glen, NY 14891-9663

    • Investment properties
    • 4,056 SF
    • 1.61 lot acres
    OFF-MARKET
    Last Sale
    Jul 29, 2024
    $225,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-4075584
    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

    • Investment properties

    Property Details for 1596 State Rte 414

    Year built
    1950
    Lot size
    1.61 lot acres
    Property size
    4,056 SF
    Zone code
    AG
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    442489 94.02-1-19
    APU
    4424899402119

    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
    Watkins Glen
    County
    Schuyler
    State
    New York
    Longitude
    -76.9275
    Latitude
    42.3146

    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
    $6,682
    $22,000
    $249,000
    $271,000
    -
    $28,571
    $323,377
    $351,948

    Comparable in this City

    • Value Estimation by Request
      2,316 SF

      607 Franklin St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,316 SF
      607 Franklin St, Watkins Glen, NY 14891-1302
      View Details
    • Value Estimation by Request
      4,968 SF

      212 Franklin St

      OFFICE/RESIDENTIAL (MIXED USE) • 4,968 SF
      212 Franklin St, Watkins Glen, NY 14891-1224
      View Details
    • Value Estimation by Request
      3,052 SF

      305 6th St

      OFFICE/RESIDENTIAL (MIXED USE) • 3,052 SF
      305 6th St, Watkins Glen, NY 14891-1362
      View Details
    • Value Estimation by Request
      2,048 SF

      3441 County Rd 30

      OFFICE/RESIDENTIAL (MIXED USE) • 2,048 SF
      3441 County Rd 30, Watkins Glen, NY 14891-9702
      View Details
    • Value Estimation by Request
      2,960 SF

      308 Franklin St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,960 SF
      308 Franklin St, Watkins Glen, NY 14891-1225
      View Details
    • Value Estimation by Request
      2,282 SF

      215 Franklin St

      OFFICE/RESIDENTIAL (MIXED USE) • 2,282 SF
      215 Franklin St, Watkins Glen, NY 14891-1201
      View Details

    Similar Nearby for Sale

    • $109,900

      Watkins Glen Investment Opportunity

      Two-unit property in Watkins Glen, ideal for investors.
      204 N Porter St, Watkins Glen, NY 14891
      View Details
    • $289,000

      Restaurant with Income-Generating Apartment

      Restaurant and renovated apartment in Watkins Glen, business opportunity.
      401 E 4Th St, Watkins Glen, NY 14891
      View Details
    • $1,900,000

      Watkins Glen Investment Trio

      Restaurant & Two Income Properties
      107 11Th St, Watkins Glen, NY 14891
      View Details
    • $128,500

      Dix, NY Agricultural Property

      Agricultural property for sale in Dix, NY.
      County Road 16, Watkins Glen, NY 14891
      View Details
    • New
      $1,200,000
      3,192 SF

      Watkins Glen Lakefront Resort Motel

      Laid-back resort motel with lakefront access and multiple units.
      County Road 30, Watkins Glen, NY 14891
      View Details
    • $399,000

      85 Acres Near Watkins Glen

      85-acre property with income potential near Watkins Glen Speedway.
      2100-2102 County Road 16, Watkins Glen, NY 14891
      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.
    1596 State Rte 414
    Watkins Glen, NY 14891-9663
    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.