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    Property profile & analytics

    18 Mnr Dr Queensbury, NY 12804

    • Office buildings
    • 9,000 SF
    • 0.96 lot acres
    OFF-MARKET
    Value Estimations
    $1,325,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5030505
    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

    • Office buildings

    Property Details for 18 Mnr Dr

    Year built
    2005
    Lot size
    0.96 lot acres
    Property size
    9,000 SF
    Zone code
    NC
    Property type
    Office buildings
    APN
    523400 301.8-1-31.2
    APU
    52340030181312

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,676,000
      Market price range: $917k - $1.68M
      AI Estimate
      $926,000
      Market price range: $408k - $927k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,260,000
      Current use
      RESTAURANT
      $1,650,000
      Change: +31% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $1,535,000
      Change: +22% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Queensbury
    County
    Warren
    State
    New York
    Longitude
    -73.6982
    Latitude
    43.3313
    CBSA code
    24020
    CBSA name
    GLENS FALLS, 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
    2021
    $8,759
    $181,000
    $1,291,000
    $1,472,000
    -
    $212,946
    $1,518,854
    $1,731,800

    Comparable in this City

    • Value Estimation
      $2,090,000
      16,000 SF

      407 Big Bay Rd

      PROFESSIONAL BUILDING • 16,000 SF
      407 Big Bay Rd, Queensbury, NY 12804-7856
      View Details
    • Value Estimation
      $635,000
      4,094 SF

      160 Aviation Rd

      OFFICE BUILDING • 4,094 SF
      160 Aviation Rd, Queensbury, NY 12804-8406
      View Details
    • Value Estimation by Request
      3,017 SF

      13 Baywood Dr

      PROFESSIONAL BUILDING • 3,017 SF
      13 Baywood Dr, Queensbury, NY 12804-5822
      View Details
    • Value Estimation by Request
      4,160 SF

      519 Queensbury Ave

      OFFICE BUILDING • 4,160 SF
      519 Queensbury Ave, Queensbury, NY 12804-7613
      View Details
    • Value Estimation
      $610,000
      3,840 SF

      667 Bay Rd

      OFFICE BUILDING • 3,840 SF
      667 Bay Rd, Queensbury, NY 12804-1451
      View Details
    • Value Estimation
      $525,000
      3,578 SF

      395 Bay Rd

      PROFESSIONAL BUILDING • 3,578 SF
      395 Bay Rd, Queensbury, NY 12804-1405
      View Details

    Similar Nearby for Sale

    • $424,000
      0.45 Acres

      Two Commercial Buildings on Corner

      Two commercial buildings with excellent road exposure at lighted intersection.
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    • $530,000
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      Queensbury Office Building For Sale

      5,033 SF Class A office building near I-87.
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    • $530,000
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      Single Story Office Building For Sale

      5,033 SF Class A office building with 32 parking spaces.
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    • $2,600,000
      6,955 SF

      Queensbury Office Building For Sale

      Office building for sale in Queensbury, ideal for owner/user.
      375 Bay Rd, Queensbury, NY 12804
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    • $449,900
      3,248 SF

      Queensbury Office Building For Sale

      3,248 SF office building with high visibility on Bay Road.
      551 Bay Rd, Queensbury, NY 12804
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    • $424,000

      Office Buildings at Lighted Intersection

      Two office buildings with excellent road exposure and ample parking.
      351 Bay Rd, Queensbury, NY 12804
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      3,840 SF

      Queensbury Office Building For Lease

      Office building in Queensbury, NY, available for lease.
      667 Bay Rd, Queensbury, NY 12804
      View Details
    • $14 SF/Yr
      7,786 SF

      Turnkey Dental Office for Lease

      Class A dental office available for immediate lease in Queensbury.
      16 Hunter Brook Ln, Queensbury, NY 12804
      View Details
    • $1.00 SF/Yr
      66,060 SF

      Class A Office Space, 40 Media Drive

      66,060 SF Office Building, Ample Parking
      40 Media Dr, Queensbury, NY 12804
      View Details
    • $1,500 /Mo
      56,873 SF

      Office Space on Quaker Road

      Office space for rent with high traffic and ample parking.
      63 Quaker Rd, Queensbury, NY 12804
      View Details
    • $1,500 /Mo
      6,832 SF

      Small Office Space For Lease

      Office space featuring four private offices and reception area.
      565 Bay Rd, Queensbury, NY 12804
      View Details
    • $16 SF/Yr

      Office/Retail Space in Fowler Square

      3,460 SF office/retail space in a growing community.
      719 Bay Rd, Queensbury, NY 12804
      View Details
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    18 Mnr Dr
    Queensbury, NY 12804
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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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