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    Property profile & analytics

    234 Sunset Ave Herkimer, NY 13350

    • Commercial real estate
    • 0.29 lot acres
    For Sale
    View listing
    $550,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-6144003
    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

    • Commercial real estate

    Property Details for 234 Sunset Ave

    Lot size
    0.29 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional commercial redevelopment opportunity encompasses three contiguous parcels totaling 0.29 acres at 234 Sunset Ave, Herkimer, NY. Currently featuring a commercial repair shop and two single-family dwellings, the seller requires the sale of all three parcels together, "as is," for redevelopment purposes. This prime location sits on a major four-corner intersection boasting an impressive 20,000 vehicles passing daily, ensuring high visibility and accessibility for any new venture. The property's strategic positioning offers unparalleled exposure, situated within sight of a Walmart main entrance and adjacent to established fast-food giants such as KFC, Taco Bell, and McDonald's. This high-traffic area presents an ideal setting for a variety of commercial uses, including but not limited to a coffee shop or small retail establishment. The existing structures provide a solid foundation for redevelopment, allowing for creative adaptation or complete demolition to suit a new development plan. The combined acreage and high daily traffic count make this a rare and compelling investment opportunity in a thriving commercial zone. The asking price for this unique redevelopment project is $550,000. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Herkimer
    County
    Herkimer
    State
    New York
    Longitude
    -74.99363
    Latitude
    43.02189

    Comparable in this City

    • $600,000
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      Herkimer Commercial Land - $600K

      Prime 0.81-acre commercial pad site.
      105 Washington St, Herkimer, NY 13350
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    • $600,000
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      Herkimer Retail Space - $600,000

      Prime Herkimer retail space, 6,115 sq ft, excellent condition.
      324 Prospect St, Herkimer, NY 13350
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    • $575,000
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      Herkimer Commercial Building For Sale

      Spacious commercial building, prime Herkimer location.
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    • $215,000
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      Sprawling 50-Acre Herkimer Lot

      50-acre lot near West Canada Creek, ideal for development.
      3883 State Route 28, Herkimer, NY 13350
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    • $57,500
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      Herkimer Land Near West Canada Creek

      12-acre land lot near West Canada Creek, suitable for building.
      State Route 28, Herkimer, NY 13350
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    • $109,900
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      Herkimer Triplex Investment Opportunity

      Well-maintained three-unit property with income potential and recent capital improvements.
      213 W Smith St, Herkimer, NY 13350
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    Similar Nearby for Sale

    • $600,000
      0.81 Acres

      Herkimer Commercial Land - $600K

      Prime 0.81-acre commercial pad site.
      105 Washington St, Herkimer, NY 13350
      View Details
    • $600,000
      6,115 SF

      Herkimer Retail Space - $600,000

      Prime Herkimer retail space, 6,115 sq ft, excellent condition.
      324 Prospect St, Herkimer, NY 13350
      View Details
    • $575,000
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      Herkimer Commercial Building For Sale

      Spacious commercial building, prime Herkimer location.
      Caroline St, Herkimer, NY 13350
      View Details
    • $250,000
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      Herkimer Commercial Land For Sale

      5.9 acres of prime commercial land in Herkimer, NY.
      180 Lowes Blvd, Herkimer, NY 13350
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    • $57,500
      12.00 Acres

      Herkimer Land Near West Canada Creek

      12-acre land lot near West Canada Creek, suitable for building.
      State Route 28, Herkimer, NY 13350
      View Details
    • $215,000
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      Sprawling 50-Acre Herkimer Lot

      50-acre lot near West Canada Creek, ideal for development.
      3883 State Route 28, Herkimer, NY 13350
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,115 SF

      Herkimer Commercial Space - Prime Location

      Former bank, 6115 sq ft, drive-thru.
      324 Prospect St, Herkimer, NY 13350
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    • Contact for pricing
      3,173 SF

      Former Bank Building For Lease

      3,173 SF former bank building available for lease.
      324 Prospect St North, Herkimer, NY 13350
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    • $1,400,000
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      Retail Space with High Visibility

      Retail space available for rent with high traffic location.
      100-548 W Albany St, Herkimer, NY 13350
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    • $12 SF/Yr
      3,150 SF

      Retail Space in Herkimer, NY

      Retail space available in high-traffic Herkimer neighborhood center.
      316-336 E State St, Herkimer, NY 13350
      View Details
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    234 Sunset Ave
    Herkimer, NY 13350
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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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