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    Property profile & analytics

    203 State St Ogdensburg, NY 13669-1425

    • Individual retail properties
    • 20,772 SF
    • 0.30 lot acres
    OFF-MARKET
    Value Estimations
    $385,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0322448
    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

    • Emily Mclellan / Sports Medicine Physician
    • Northern Physical Therapy / Physical Therapist / Physical Therapy Clinic
    • Jeremy M. Warchol, PT / Physical Therapist
    • Kara Hanna / Physical Therapist
    • Tuan Huynh / Physical Therapist

    Property Details for 203 State St

    Year built
    1950
    Lot size
    0.30 lot acres
    Property size
    20,772 SF
    Property type
    Individual retail properties
    APN
    401200 48.070-2-41
    APU
    40120048070241

    Description

    This meticulously maintained three-story commercial/multi-use property at 203 State Street in Ogdensburg, NY, presents a significant investment opportunity. Boasting 25,092 square feet on a 0.3-acre corner lot, this building offers exceptional visibility and accessibility. The attractive stone exterior is in pristine condition, complemented by recent upgrades including a new rubber roof (2023), a modernized boiler system, updated electrical and lighting systems, plumbing improvements, new windows, and fresh flooring. The property currently generates income through a long-term lease with an attorney's office. A substantial amount of additional space is available for lease, creating further income potential. The current owners, Northern Physical Therapy, are also interested in a long-term lease, providing a ready-made tenant and immediate return on investment. The property features a large paved rear parking area, maintained by the city and shared with other businesses, ensuring ample parking for tenants and clients. This property's size, location, and recent renovations make it an ideal investment for entrepreneurs, established businesses, or investors seeking substantial growth potential. The combination of existing income and the potential for additional leasing makes this a truly compelling opportunity in the thriving Ogdensburg market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $385,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Ogdensburg
    County
    St. Lawrence
    State
    New York
    Longitude
    -75.4938
    Latitude
    44.6983
    CBSA code
    36300
    CBSA name
    OGDENSBURG-MASSENA, 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
    $20,800
    $329,200
    $350,000
    -
    $20,800
    $329,200
    $350,000

    Comparable in this City

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    • Value Estimation
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      3,360 SF

      329-333 Frd St

      FINANCIAL BUILDING • 3,360 SF
      329-333 Frd St, Ogdensburg, NY 13669
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    • Value Estimation
      $290,000
      1,654 SF

      9826 9830th Sh 37

      RETAIL STORES (PERSONAL SERVICES) • 1,654 SF
      9826 9830th Sh 37, Ogdensburg, NY 13669
      View Details
    • Value Estimation
      $375,000
      14,840 SF

      700 Canton St

      RETAIL STORES (PERSONAL SERVICES) • 14,840 SF
      700 Canton St, Ogdensburg, NY 13669-3836
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    • Value Estimation
      $260,000
      4,856 SF

      403 Caroline St

      FINANCIAL BUILDING • 4,856 SF
      403 Caroline St, Ogdensburg, NY 13669
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    • Value Estimation
      $280,000
      3,276 SF

      30 Lafayette St

      RETAIL STORES (PERSONAL SERVICES) • 3,276 SF
      30 Lafayette St, Ogdensburg, NY 13669-3276
      View Details

    Similar Nearby for Sale

    • $375,000

      Retail Corner Location Opportunity

      Retail or convenience store with road frontages and parking.
      830 State St, Ogdensburg, NY 13669
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    • $299,900

      Prime Corner Retail Opportunity

      Renovated building suitable for office, retail, or restaurant use.
      302-306 Ford Street Ext, Ogdensburg, NY 13669
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    • $649,900
      1.00 Acre

      Turnkey Business Opportunity in Ogdensburg

      Established bottle/can redemption and convenience store business for sale.
      7211 State Highway 68, Ogdensburg, NY 13669
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    • $169,900
      5,518 SF

      Ogdensburg Mixed-Use Investment Opportunity

      Commercial space, rental units, and house in Ogdensburg, NY.
      1302 Ford Street Ext, Ogdensburg, NY 13669
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    • $194,900

      Downtown Ogdensburg Commercial Space

      Former mall with potential for various commercial uses.
      207-215 Ford Street Ext, Ogdensburg, NY 13669
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    • $169,900

      Ogdensburg Mixed-Use Investment Opportunity

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    Similar Nearby for Lease

    • Contact for pricing
      42,087 SF

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    • $12 SF/Yr

      Retail Space in Gateway Plaza

      Retail spaces available for lease in Ogdensburg, NY.
      2981 Ford Street Ext, Ogdensburg, NY 13669
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    • $12 SF/Yr
      54,562 SF

      Ogdensburg Retail Center

      Prime Retail Space Available, 1,580-10,000 SF
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      View Details
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    203 State St
    Ogdensburg, NY 13669-1425
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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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