Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2 Ter Dr Carmel, NY 10512-2465
    Back to Search
    Property profile & analytics

    2 Ter Dr Carmel, NY 10512-2465

    View on Map
    • Banks
    • 5,232 SF
    • 2.29 lot acres
    Off-Market
    Property ID
    US63-5158258
    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
    $520,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Banks

    Property Details for 2 Ter Dr

    Year built
    2012
    Lot size
    2.29 lot acres
    Property size
    5,232 SF
    Zone code
    CBP
    Property type
    Banks
    APN
    372000 55.11-1-42
    APU
    3720005511142

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $420,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $621,000
      Market price range: $419k - $622k

    • Alternative Use

      Use
      Estimation
      FINANCIAL BUILDING
      $495,000
      Current use
      RESTAURANT
      $780,000
      Change: +57% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $645,000
      Change: +30% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $570,000
      Change: +15% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Carmel
    County
    Putnam
    State
    New York
    Longitude
    -73.6678
    Latitude
    41.4115
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA 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
    2020
    $22,672
    $801,500
    $1,049,900
    $1,851,400
    -
    $801,500
    $1,049,900
    $1,851,400

    Comparable in this City

    • Value Estimation by Request
      5,712 SF

      256 Rte 52

      FINANCIAL BUILDING • 5,712 SF
      256 Rte 52, Carmel, NY 10512-5707
      View Details
    • Value Estimation by Request
      5,373 SF

      43 Gleneida Ave

      FINANCIAL BUILDING • 5,373 SF
      43 Gleneida Ave, Carmel, NY 10512-1209
      View Details
    • Value Estimation by Request
      1,572 SF

      3730 Rte 301

      FINANCIAL BUILDING • 1,572 SF
      3730 Rte 301, Carmel, NY 10512
      View Details
    • Value Estimation by Request
      2,596 SF

      495-497 Rte 52

      FINANCIAL BUILDING • 2,596 SF
      495-497 Rte 52, Carmel, NY 10512
      View Details
    • Value Estimation by Request
      2,879 SF

      1995 Rte 6th 6

      FINANCIAL BUILDING • 2,879 SF
      1995 Rte 6th 6, Carmel, NY 10512-2318
      View Details
    • Value Estimation by Request
      2,456 SF

      98 Gleneida Ave

      FINANCIAL BUILDING • 2,456 SF
      98 Gleneida Ave, Carmel, NY 10512-1231
      View Details

    Similar Nearby for Sale

    • $475,000

      Mixed-Use Property in Putnam County

      Mixed-use property with retail space and residential units.
      498 Route 52, Carmel, NY 10512
      View Details
    • $515,000
      0.23 Acres

      Retail Property on Route 52

      Well-maintained retail building with storage in Lake Carmel, NY.
      511 Route 52, Carmel, NY 10512
      View Details
    • $515,000

      Route 52 Retail Opportunity

      Well-maintained retail building with storage in Lake Carmel, NY.
      511 Route 52, Carmel, NY 10512
      View Details
    • $600,000
      5,731 SF

      High-Visibility Carmel Retail Space

      Prime Carmel location, high traffic, lake views.
      34 Gleneida Ave, Carmel, NY 10512
      View Details
    • $325,000
      0.21 Acres

      Commercial Building on Route 52

      High-visibility commercial property suitable for retail, office, or medical use.
      208 Route 52, Carmel, NY 10512
      View Details
    • $325,000

      Commercial Building on Route 52

      High-visibility commercial property suitable for retail, office, or medical use.
      208 Route 52, Carmel, NY 10512
      View Details

    Similar Nearby for Lease

    • $1,500 /Mo
      23,231 SF

      Renovated Commercial Space on Route

      Newly renovated commercial space on high-traffic Route 52.
      435 Route 52, Carmel, NY 10512
      View Details
    • $1,500 /Mo
      23,231 SF

      Renovated Retail Space on Route 52

      Newly renovated commercial space on high-traffic Route 52 in Carmel.
      435 Route 52, Carmel, NY 10512
      View Details
    • $3,300 /Mo
      Pending

      Corner Commercial Space Near Lake

      Turn-key retail/restaurant space with outdoor seating and private parking.
      105 Towners Ste 102 Rd, Carmel, NY 10512
      View Details
    • Contact for pricing

      Retail Space Near Major Intersection

      Retail space available near the intersection of Route 6 & Route 312.
      Rte 6 U.S, Carmel, NY 10512
      View Details
    • $850 /Mo

      Retail Space on Route 52

      250 sq ft retail space with high visibility.
      507 Route 52, Carmel, NY 10512
      View Details

    Property Visit Statistics

    • Visits by month
      10.1k
    • Visitors by month
      5.5k
    • Avg Time on site
      9 min
    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.
    2 Ter Dr
    Carmel, NY 10512-2465
    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

    Thank You for Inquiry
    2 Ter Dr, Carmel, NY, 10512
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!