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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    223 Comrie Ave Johnstown, NY 12095-1501

    • Strip malls
    • 23,400 SF
    • 0.97 lot acres
    OFF-MARKET
    Value Estimations
    $2,825,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-4900256
    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

    • T.J. Maxx / Clothing & Fashion Store
    • Applebee's Grill + Bar / Restaurant

    Property Details for 223 Comrie Ave

    Year built
    2014
    Lot size
    0.97 lot acres
    Property size
    23,400 SF
    Zone code
    06 - INDUSTRIAL
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    170800 163.13-1-13
    APU
    17080016313113

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $2,495,000
      MEDICAL BUILDING
      $2,125,000
      AUTO REPAIR, GARAGE
      $1,845,000
      RETAIL STORES
      $1,740,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Johnstown
    County
    Fulton
    State
    New York
    Longitude
    -74.3628
    Latitude
    43.0166
    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
    $122,300
    $1,877,700
    $2,000,000
    -
    $163,067
    $2,503,600
    $2,666,667

    Comparable in this City

    • Value Estimation
      $2,470,000
      20,600 SF

      200 Comrie Ave

      SHOPPING CENTER, STRIP CENTER • 20,600 SF
      200 Comrie Ave, Johnstown, NY 12095-1568
      View Details
    • Value Estimation
      $5,710,000
      51,200 SF

      211 Comrie Ave, Unit 219

      SHOPPING CENTER, STRIP CENTER • 51,200 SF
      211 Comrie Ave, Johnstown, NY 12095-1501
      View Details
    • Value Estimation
      $18,265,000
      166,664 SF

      246 Comrie Ave

      SHOPPING CENTER, STRIP CENTER • 166,664 SF
      246 Comrie Ave, Johnstown, NY 12095
      View Details
    • Value Estimation
      $1,355,000
      11,000 SF

      86 Briggs St

      SHOPPING CENTER, STRIP CENTER • 11,000 SF
      86 Briggs St, Johnstown, NY 12095-1566
      View Details
    • Value Estimation
      $7,620,000
      68,250 SF

      307 Comrie Ave

      MINI-MALL • 68,250 SF
      307 Comrie Ave, Johnstown, NY 12095-1018
      View Details
    • Value Estimation
      $1,990,000
      16,732 SF

      99 Comrie Ave

      MINI-MALL • 16,732 SF
      99 Comrie Ave, Johnstown, NY 12095-1906
      View Details

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      Route 30A Commercial Opportunity

      Commercial building on Route 30A with high visibility and parking.
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      Versatile Commercial Property with Apartment

      Commercial property featuring storefront, rear area, apartment, and garage.
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      9,000 SF Warehouse on 1-Acre

      Warehouse on 1-acre lot, ideal for distribution, retail, or industrial.
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    Similar Nearby for Lease

    • Contact for pricing

      High-Visibility Office Space, Johnstown

      Prime Fulton County Office, Single Tenant
      605 Comrie Ave, Johnstown, NY 12095
      View Details
    • $5 SF/Yr
      28,000 SF

      Johnstown Warehouse/Industrial Building For Rent

      28,000 SF warehouse/industrial building on 2.7 acres available for rent.
      4 Industrial Pkwy, Johnstown, NY 12095
      View Details
    • $3 SF/Yr
      62,015 SF

      Johnstown Industrial Warehouse For Lease

      62,015 SF industrial building with loading docks and grade doors.
      20 Crescendoe Rd, Johnstown, NY 12095
      View Details

    Property Visit Statistics

    • Visits by month
      23.2k
    • Visitors by month
      17.2k
    • Avg Time on site
      20 min
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    223 Comrie Ave
    Johnstown, NY 12095-1501
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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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