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Property profile & analytics
OFF-MARKET
Estimated value
$765,000
Office buildings
2261 Airport Dr, Penn Yan, NY 14527
Entity Owned
7-yr Hold
Free & Clear
Property ID
US63-5680638
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2010
Total area
11,450 SF
Lot
22.34 ac (973,130 SF)
Zoning code
LI
APN
573089 61.04-1-8.21
UPID
US63-5680638
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$765k
Owner & transaction history
County Of Yates · 7 yrs held
County Of Yates
since 2019
1 recorded transaction
Zoning & alternative use
LI · Penn Yan, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.1M
+24.2%
Commercial (general)
$1.0M
+13.2%
Retail stores
$920,000
+2.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Penn Yan submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Penn Yan submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$905,000
Current use
RESTAURANT
$1,120,000
Change: +24% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,020,000
Change: +13% · Conversion: Easy
RETAIL STORES
$920,000
Change: +2% · Conversion: Moderate
AUTO REPAIR, GARAGE
$800,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$765k
Range $689k – $842k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$67 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Property tax & assessments
Assessed value
$1,582,800
Assessed 2023
Previous assessed
$1,374,100
+15.2% YoY
Assessed land
$373,900
Assessed improvement
$1,208,900
Land market value
$373,900
Improvement market value
$1,208,900
Total market value
$1,582,800
Applied tax rate
573,001.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2010
Buildings
3
Stories
1
Total area
11,450 SF
Lot
22.34 ac (973,130 SF)
Zoning code
LI
APN
573089 61.04-1-8.21
UPID
US63-5680638
Jurisdiction
YATES
Zoning & alternative use
LI · Penn Yan, NY
Zoning LI · permitted uses
LI · Penn Yan, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Penn Yan. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$905,000
RESTAURANT
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.0M
RETAIL STORES
Est. value
$920,000
AUTO REPAIR, GARAGE
Est. value
$800,000
OFFICE BUILDING Current
RESTAURANT
COMMERCIAL (GENERAL)
RETAIL STORES
AUTO REPAIR, GARAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2010
Stories
1
Buildings
3
Lot
22.34 ac
Current owner
From public records · entity-resolved
County Of Yates
Entity
Free & Clear · 7 yrs held
Mailing address
417 LIBERTY ST, PENN YAN, NY 14527-1100
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 22, 2019
—
County Of Yates
County Of Yates
Intrafamily Transfer
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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