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    187 Center St Massena, NY 13662
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    187 Center St, Massena, NY 13662

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    • Multifamily properties
    • 3,116 SF
    For Sale
    $79,000
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    Massena Triplex Investment Opportunity For Sale
    $79,000
    3,116 SF

    Massena Triplex Investment Opportunity

    Three-unit apartment building with a monthly rental income.

    187 Center Street, Massena, NY 13662
    View Listing
    Property ID
    US63-5785807
    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

    • Multifamily properties

    Property Details for 187 Center St

    Year built
    1950
    Property type
    Multifamily properties

    Description

    Three-unit rental, prime waterfront location.

    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
    Massena
    County
    St. Lawrence
    State
    New York
    Longitude
    -74.88387
    Latitude
    44.93401

    Comparable in this City

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      Massena Multi-Family Investment Opportunity

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      Water-View Compound with Rental Income

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    • $79,000
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      Massena Triplex Investment Opportunity

      Three-unit apartment building with a monthly rental income.
      187 Center St, Massena, NY 13662
      View Details
    • $199,000
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      Massena Multi-Family Investment Opportunity

      Seven-unit property in Massena, NY, requiring renovation.
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      90-Unit Multifamily Investment Opportunity

      90 units in 12 buildings with high occupancy.
      445 Leslie Rd, Massena, NY 13662
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    Similar Nearby for Sale

    • $105,000
      2,274 SF

      Mixed-Use Commercial Building, Massena

      Mixed-use commercial building with rental income potential in Massena, NY.
      146 E Orvis St, Massena, NY 13662
      View Details
    • $179,000
      7,822 SF

      Massena Multi-Family Investment Opportunity

      High-yield multi-family, flexible zoning.
      426 Main St, Massena, NY 13662
      View Details
    • $249,900

      Water-View Compound with Rental Income

      Water-view property near Massena, NY, with rental income potential.
      246 County Route 46, Massena, NY 13662
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    • $79,000
      3,116 SF

      Massena Triplex Investment Opportunity

      Three-unit apartment building with a monthly rental income.
      187 Center St, Massena, NY 13662
      View Details
    • $199,000
      3,900 SF

      Massena Multi-Family Investment Opportunity

      Seven-unit property in Massena, NY, requiring renovation.
      18 Park Ave, Massena, NY 13662
      View Details
    • Contact for pricing

      90-Unit Multifamily Investment Opportunity

      90 units in 12 buildings with high occupancy.
      445 Leslie Rd, Massena, NY 13662
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      11,130 SF

      Former Pharmacy in Downtown Massena

      High-visibility corner lot available for lease or redevelopment.
      87 Main St, Massena, NY 13662
      View Details
    • Contact for pricing
      1,600 SF

      Retail Space Near Route 37

      Retail space anchored by BJ's Wholesale Club and Ollie’s.
      6033-6300 St Hwy 37, Massena, NY 13662
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      Prime Commercial Land Opportunity

      Commercial property with high visibility and excellent accessibility for rent.
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      Commercial Land Near Highway

      Commercial land for rent near major businesses.
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      Commercial Land Near Major Businesses

      Commercial property for rent near Ollie's, JCPenney, and Walmart.
      6300 Ny-37, Massena, NY 13662
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    View Listing
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    Massena, NY 13662
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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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