Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    22696 County Rte 51 Watertown, NY 13601-5005

    • Warehouses
    • 15,000 SF
    • 2.82 lot acres
    OFF-MARKET
    Value Estimations
    $885,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-6064467
    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

    • Warehouses

    Property Details for 22696 County Rte 51

    Year built
    1988
    Lot size
    2.82 lot acres
    Property size
    15,000 SF
    Property type
    Warehouses
    APN
    224889 74.13-1-17.214
    APU
    2248897413117214

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $652,000
      Market price range: $190k - $653k
      AI Estimate
      $854,000
      Market price range: $279k - $855k

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $1,265,000
      OFFICE BUILDING
      $995,000
      COMMERCIAL (GENERAL)
      $980,000
      AUTO REPAIR, GARAGE
      $715,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Watertown
    County
    Jefferson
    State
    New York
    Longitude
    -75.9145
    Latitude
    44.0054
    CBSA code
    48060
    CBSA name
    WATERTOWN-FORT DRUM, 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
    $141,000
    $882,000
    $1,023,000
    -
    $141,000
    $882,000
    $1,023,000

    Comparable in this City

    • Value Estimation by Request
      3,952 SF

      511 Burdick St

      WAREHOUSE, STORAGE • 3,952 SF
      511 Burdick St, Watertown, NY 13601
      View Details
    • Value Estimation by Request
      1,736 SF

      805 Huntington St

      WAREHOUSE, STORAGE • 1,736 SF
      805 Huntington St, Watertown, NY 13601
      View Details
    • Value Estimation by Request
      6,250 SF

      21227 State Rte 12f

      WAREHOUSE, STORAGE • 6,250 SF
      21227 State Rte 12f, Watertown, NY 13601-1082
      View Details
    • Value Estimation by Request
      6,514 SF

      455 Martin St

      WAREHOUSE, STORAGE • 6,514 SF
      455 Martin St, Watertown, NY 13601
      View Details
    • Value Estimation
      $600,000
      41,658 SF

      570 Main St

      WAREHOUSE, STORAGE • 41,658 SF
      570 Main St, Watertown, NY 13601
      View Details
    • Value Estimation by Request
      5,400 SF

      164 Main St

      WAREHOUSE, STORAGE • 5,400 SF
      164 Main St, Watertown, NY 13601-1003
      View Details

    Similar Nearby for Sale

    • $1,500,000
      14,600 SF

      Industrial Flex Building with Crane

      14,600 SF industrial/flex building with crane for sale.
      22620 Fisher Rd, Watertown, NY 13601
      View Details
    • $175,000
      0.34 Acres

      Versatile Commercial Building Near Fort Drum

      Mixed-use commercial building ideal for various businesses near Fort Drum.
      1450 Huntington St, Watertown, NY 13601
      View Details
    • $69,900

      Commercial Buildings on Corner Lot

      Two commercial buildings totaling 19,888 +/- Sq. Ft.
      100 Newell St, Watertown, NY 13601
      View Details
    • $650,000
      53,222 SF

      Industrial Building with Vacant Land

      53,222 SF industrial building with additional vacant land.
      740 Water St, Watertown, NY 13601
      View Details
    • Contact for pricing
      9,600 SF

      9,600 SF Flex/Industrial Building

      9,600 SF metal shell building available for sale.
      633 Mill St, Watertown, NY 13601
      View Details
    • $1,600,000
      122,000 SF

      Two Industrial Buildings on Black River

      Two industrial buildings totaling 122,000 SF ready for redevelopment.
      629 Factory Sq, Watertown, NY 13601
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      135,395 SF

      Seaway Shopping Center: Watertown, NY

      Watertown Retail/Warehouse Space Available
      22088 Us-11, Watertown, NY 13601
      View Details
    • $4 SF/Yr
      16,283 SF

      Industrial/Flex Space For Lease

      Industrial and flex spaces available with immediate highway access.
      22419 Fisher Rd, Watertown, NY 13601
      View Details
    • $6 SF/Yr
      20,000 SF

      Watertown Industrial Space For Lease

      20,000+ sq ft warehouse with loading dock and fenced lot.
      476 Poplar St, Watertown, NY 13601
      View Details
    • $299,000

      Versatile Commercial Building Near Watertown

      Renovated commercial building with office, warehouse space, and fenced yard.
      22252 Us Route 11, Watertown, NY 13601
      View Details
    • $35 SF/Yr
      5,071 SF

      Watertown Retail Pad Site For Lease

      Prime Watertown location, 5,071 sq ft freestanding retail building.
      21890 Towne Center Dr, Watertown, NY 13601
      View Details
    • Contact for pricing

      Commercial Land Near Salmon Run

      Commercial land for rent near Watertown's premier shopping destination.
      21061 State Route 3, Watertown, NY 13601
      View Details
    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.
    22696 County Rte 51
    Watertown, NY 13601-5005
    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

    Google sign-in failed. Please try again or use another login method.