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Property profile & analytics
OFF-MARKET
Estimated value
$1,525,000
Medical Office Space
254256 Delaware Ave, Delmar, NY 12054
Entity Owned
5-yr Hold
Free & Clear
Property ID
US63-2648054
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
2012
Total area
49,036 SF
Lot
0.95 ac (41,382 SF)
Zoning code
CH
APN
012200 86.09-4-11
UPID
US63-2648054
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
$1.72M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.53M
Owner & transaction history
Patroon Dev LLC · 5 yrs held
Patroon Dev LLC
since 2020
Last sale
$1.6M
4 recorded transactions
Zoning & alternative use
CH · Delmar, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.8M
+55.5%
Retail stores
$1.7M
+45.1%
Warehouse, storage
$1.3M
+6.9%
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 Delmar submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Delmar 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
$1,260,000
ML approach
$1,715,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,185,000
Current use
OFFICE BUILDING
$1,845,000
Change: +55% · Conversion: Easy
RETAIL STORES
$1,720,000
Change: +45% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,270,000
Change: +7% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,125,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$1.53M
Range $1.37M – $1.68M · ±10% · vs last sale $1.56M (Aug 20 2020)
Last sale anchor
$1.56M
Aug 20 2020
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
$31 / 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
$1,687,850
Assessed 2023
Previous assessed
$1,687,850
+0.0% YoY
Assessed land
$267,500
Assessed improvement
$1,420,350
Land market value
$356,667
Improvement market value
$1,893,800
Total market value
$2,250,467
Applied tax rate
12,206.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Medical Office Space
Use group
MEDICAL CLINIC
Status
Off-Market
Year built
2012
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
2
Total area
49,036 SF
Lot
0.95 ac (41,382 SF)
Zoning code
CH
APN
012200 86.09-4-11
UPID
US63-2648054
Jurisdiction
ALBANY
Zoning & alternative use
CH · Delmar, NY
Zoning CH · permitted uses
CH · Delmar, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Delmar. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.8M
RETAIL STORES
Est. value
$1.7M
WAREHOUSE, STORAGE
Est. value
$1.3M
INDUSTRIAL (GENERAL)
Est. value
$1.1M
MEDICAL BUILDING Current
OFFICE BUILDING
RETAIL STORES
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
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
2012
Heating
NONE
Cooling
Yes
Stories
2
Buildings
1
Lot
0.95 ac
Current owner
From public records · entity-resolved
Patroon Dev LLC
Entity
Free & Clear · 5 yrs held
Mailing address
509 STATE RTE 67, MALTA, NY 12020-4334
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 20, 2020
$965,500
Patroon Dev LLC
Mullen Capital LLC
Grant Deed
—
Dec 6, 2011
—
Patroon Dev LLC
—
Deed Of Trust
related
$8,500,000 · Glens Falls Nat'l Bank & Trust
—
—
Patroon Dev LLC
—
Loan Modification
related
$10,250,000 · Glens Falls Nat'l Bk & Tr Co
—
—
Patroon Dev LLC
—
Deed Of Trust
related
$1,500,000 · Glens Falls Nat'l Bk & Tr Co
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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