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    2430 Nys Rte 22 Essex, NY 12936
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    Property profile & analytics

    2430 Nys Rte 22 Essex, NY 12936

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    • Turn key restaurants
    • 1,863 SF
    • 0.60 lot acres
    Off-Market
    Last Sale Jul 8, 2022
    $65,000
    Property ID
    US63-2839944
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Turn key restaurants

    Property Details for 2430 Nys Rte 22

    Year built
    1950
    Lot size
    0.60 lot acres
    Property size
    1,863 SF
    Zone code
    07 - MIXED
    Property type
    Turn key restaurants
    APN
    152600 40.3-3-2.000
    APU
    15260040332000

    Description

    This exceptional retail property, located at 2430 NYS Route 22, Unit 2430 in Essex, NY, presents a unique investment opportunity. Situated on a sizable 0.6-acre lot, this property offers significant potential for a variety of retail businesses. The building's precise square footage is currently unavailable, however, the generous lot size allows for ample space for expansion or outdoor amenities. The asking price is $100,000, representing a compelling entry point into the vibrant Essex market. The property's location on NYS Route 22 ensures high visibility and accessibility, attracting significant foot traffic and driving potential customer engagement. This prime location offers excellent exposure to both local residents and tourists, making it an ideal setting for a thriving retail enterprise. The property's potential is further enhanced by its strategic positioning within the Essex community, a region known for its strong local economy and attractive lifestyle. This presents a rare chance to acquire a well-situated retail space in a desirable location at an attractive price point. Serious inquiries are encouraged to explore this promising investment opportunity further. Detailed information regarding the building's interior and specifics are available upon request.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Essex
    County
    Essex
    State
    New York
    Longitude
    -73.3812
    Latitude
    44.3068

    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
    2020
    $1,489
    $36,800
    $61,500
    $98,300
    -
    $36,800
    $61,500
    $98,300

    Comparable in this City

    • Value Estimation by Request
      3,658 SF

      2752 Essex Rd, Unit 1

      RESTAURANT • 3,658 SF
      2752 Essex Rd, Essex, NY 12936
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    • Value Estimation by Request
      5,280 SF

      2270 Main St

      RESTAURANT • 5,280 SF
      2270 Main St, Essex, NY 12936
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    • Value Estimation by Request
      414 SF

      37 Beggs Pt St

      RETAIL STORES (PERSONAL SERVICES) • 414 SF
      37 Beggs Pt St, Essex, NY 12936
      View Details
    • Value Estimation by Request
      4,080 SF

      2317 Nys Rte 22

      RETAIL STORES (PERSONAL SERVICES) • 4,080 SF
      2317 Nys Rte 22, Essex, NY 12936
      View Details
    • Value Estimation by Request
      2,100 SF

      1502 Nys Rte 22

      RETAIL STORES (PERSONAL SERVICES) • 2,100 SF
      1502 Nys Rte 22, Essex, NY 12936-1820
      View Details
    • Value Estimation by Request
      4,415 SF

      1598 Nys Rte 22

      RETAIL STORES (PERSONAL SERVICES) • 4,415 SF
      1598 Nys Rte 22, Essex, NY 12936-1820
      View Details
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    2430 Nys Rte 22
    Essex, NY 12936
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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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