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    Property profile & analytics

    161 State St Johnstown, NY 12095-2614

    • Investment properties
    • 2,220 SF
    • 0.64 lot acres
    OFF-MARKET
    Value Estimations
    $260,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3352836
    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

    • The Floor Coverings of the Galleria / Flooring Store / Carpet Store
    • Muttly Krew & Kutz / Pet Groomer

    Property Details for 161 State St

    Year built
    1985
    Lot size
    0.64 lot acres
    Property size
    2,220 SF
    Zone code
    05 - COMMERCIAL
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    170800 175.5-6-2
    APU
    170800175562

    Description

    This exceptional commercial property, located at 161 E State St in Johnstown, New York, presents a unique investment opportunity at an attractive price point of $70,000. The property is classified as "Other," indicating its versatility and potential for a wide range of uses. While the square footage is not currently specified, the property's location on State Street offers significant visibility and accessibility, making it an ideal site for a variety of businesses. The lot size is listed as zero acres, suggesting the property may be a building on a smaller lot or a portion of a larger parcel. The absence of detailed square footage information underscores the need for a thorough on-site inspection to assess the property's precise dimensions and layout. This allows for potential buyers to tailor their plans to the property's specific characteristics. Given its price and location, this property is well-suited for entrepreneurs seeking a cost-effective entry point into the Johnstown commercial market or investors looking for a potentially high-return asset. Further due diligence, including a property survey and zoning verification, is recommended to fully understand the property's potential and limitations. Serious inquiries are encouraged to schedule a viewing and explore the possibilities this property offers. The lack of detailed information presents a chance to shape the property's future according to individual needs and vision.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $255,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $450,000
      6.5%
      $415,000
      7%
      $385,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $229,000
      Market price range: $91.4k - $230k

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

    Location Insight

    • Map
    • Local Demand
    City
    Johnstown
    County
    Fulton
    State
    New York
    Longitude
    -74.359
    Latitude
    43.003
    CBSA code
    24100
    CBSA name
    GLOVERSVILLE, 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
    $98,100
    $71,900
    $170,000
    -
    $130,800
    $95,867
    $226,667

    Comparable in this City

    • Value Estimation
      $250,000
      2,464 SF

      9 State St

      STORE/OFFICE (MIXED USE) • 2,464 SF
      9 State St, Johnstown, NY 12095-2105
      View Details
    • Value Estimation
      $240,000
      1,488 SF

      120 County Hwy 116

      STORE/OFFICE (MIXED USE) • 1,488 SF
      120 County Hwy 116, Johnstown, NY 12095
      View Details
    • Value Estimation
      $285,000
      5,268 SF

      295-299 Comrie Ave

      STORE/OFFICE (MIXED USE) • 5,268 SF
      295-299 Comrie Ave, Johnstown, NY 12095
      View Details
    • Value Estimation
      $295,000
      5,000 SF

      490 Perry St

      STORE/OFFICE (MIXED USE) • 5,000 SF
      490 Perry St, Johnstown, NY 12095-1011
      View Details
    • Value Estimation
      $255,000
      704 SF

      Comrie Ave

      STORE/OFFICE (MIXED USE) • 704 SF
      Comrie Ave, Johnstown, NY 12095
      View Details
    • Value Estimation
      $275,000
      2,332 SF

      252 Comrie Ave

      STORE/OFFICE (MIXED USE) • 2,332 SF
      252 Comrie Ave, Johnstown, NY 12095-1502
      View Details

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      Prime Johnstown location, 5-acre lot, $995,000.
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    • $1,700,000
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      Johnstown Retail Property - 12,000 SF

      Prime Johnstown location, high traffic, 12,000 sq ft.
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      Land in Johnstown, NY

      6.06 acre land parcel with endless opportunities.
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    Similar Nearby for Lease

    • $5 SF/Yr
      28,000 SF

      Johnstown Warehouse/Industrial Building For Rent

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      View Details
    • $3 SF/Yr
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      Johnstown Industrial Warehouse For Lease

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      View Details
    • Contact for pricing

      High-Visibility Office Space, Johnstown

      Prime Fulton County Office, Single Tenant
      605 Comrie Ave, Johnstown, NY 12095
      View Details
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    161 State St
    Johnstown, NY 12095-2614
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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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