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

    223 State Rte 28 Warrensburg, NY 12885-4786

    • Mobile home & RV parks
    • 728 SF
    • 2.77 lot acres
    OFF-MARKET
    Last Sale
    Aug 02, 2023
    $310,000
    Value Estimations
    $340,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1800218
    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

    • Mobile home & RV parks

    Property Details for 223 State Rte 28

    Year built
    1966
    Lot size
    2.77 lot acres
    Property size
    728 SF
    Zone code
    01 - NOT ZONED
    Property type
    Mobile home & RV parks
    APN
    524000 183.3-1-4
    APU
    524000183314

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $365,000
      ML approach
      $370,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $256,000
      Market price range: $256k - $400k

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

    Location Insight

    • Map
    • Local Demand
    City
    Warrensburg
    County
    Warren
    State
    New York
    Longitude
    -73.8131
    Latitude
    43.5392
    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
    $0.00
    $38,800
    $137,500
    $176,300
    -
    $45,116
    $159,884
    $205,000

    Comparable in this City

    • Value Estimation
      $255,000
      2,124 SF

      73 Echo Lk Rd

      CAMPGROUND, RV PARK • 2,124 SF
      73 Echo Lk Rd, Warrensburg, NY 12885
      View Details
    • Value Estimation
      $300,000
      3,240 SF

      1730 Schroon Riv Rd

      CAMPGROUND, RV PARK • 3,240 SF
      1730 Schroon Riv Rd, Warrensburg, NY 12885-5212
      View Details
    • Value Estimation
      $325,000
      4,066 SF

      4199 State Rte 9th 9

      CAMPGROUND, RV PARK • 4,066 SF
      4199 State Rte 9th 9, Warrensburg, NY 12885-4752
      View Details
    • Value Estimation
      $340,000
      4,296 SF

      136 Schroon Riv Rd

      CAMPGROUND, RV PARK • 4,296 SF
      136 Schroon Riv Rd, Warrensburg, NY 12885-4802
      View Details
    • Value Estimation
      $310,000
      6,700 SF

      73 Echo Lk Rd

      CAMPGROUND, RV PARK • 6,700 SF
      73 Echo Lk Rd, Warrensburg, NY 12885
      View Details
    • Value Estimation
      $285,000
      3,332 SF

      3664 Main St

      MOBILE HOME PARK, TRAILER PARK • 3,332 SF
      3664 Main St, Warrensburg, NY 12885-1868
      View Details

    Similar Nearby for Sale

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      1,546 SF

      Warrensburg Retail Location For Sale

      Retail property with high visibility and ample parking in Warrensburg.
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    • $299,900

      Adirondack Forestland with Hudson River Frontage

      112 acres of Adirondack forestland with river frontage.
      L 15.1 Ny-28, Warrensburg, NY 12885
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    • $1,999,000
      1,190.00 Acres

      Vast Land for Hunting, Logging

      1190 acres suitable for hunting, logging, and camping.
      4524 State Route 9, Warrensburg, NY 12885
      View Details
    • $599,900

      240 Acres of Recreational Land

      240 acres with trails, pond, stream, and waterfall.
      L 30.1 Pucker St, Warrensburg, NY 12885
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    • Contact for pricing
      1.27 Acres

      Land Near Viele Pond, Warrensburg

      1.27 acre land parcel suitable for private campsite and recreation.
      1558 Viele Pond Rd, Warrensburg, NY 12885
      View Details
    • $427,500
      Pending

      Versatile Commercial Property with Conversion Potential

      Adaptable 4,800 sqft commercial space, formerly a daycare facility.
      99 River St, Warrensburg, NY 12885
      View Details
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    223 State Rte 28
    Warrensburg, NY 12885-4786
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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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