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

    255 Grant Ave Auburn, NY 13021

    • Motels
    • 11,328 SF
    • 1.72 lot acres
    For Sale
    View listing
    $1,900,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0420968
    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

    • Grant Motel / Motel
    • Scottish Inns & Suites Auburn / Hotel

    Property Details for 255 Grant Ave

    Year built
    1955
    Lot size
    1.72 lot acres
    Property size
    11,328 SF
    Zone code
    HC
    Property type
    Motels
    APN
    050100 109.56-1-4
    APU
    501001095614

    Description

    This exceptional 1.72-acre commercial development site in Auburn, New York, presents a lucrative investment opportunity. Located at 255 Grant Avenue, this property boasts a prime location in the busiest retail corridor of Auburn, situated within the heart of the Finger Lakes Region. The site features 11,328 square feet and is zoned for highway commercial use, offering significant potential for various retail developments. The asking price is $1,900,000, translating to $167.73 per square foot. The property includes two existing buildings, each two stories high, currently under a ground lease. This high-traffic area sees 30,864 vehicles per day. The site's strategic location is further enhanced by its adjacency to Auburn Plaza, a thriving retail center anchored by established national brands such as Marshalls, Aldi, Planet Fitness, Harbor Freight, and Dollar Tree. This presents a unique chance to capitalize on the existing synergy and high consumer traffic within this established retail hub. The property's Net Lease structure offers potential for diverse income streams and development strategies. This is an unparalleled opportunity to acquire a premier development site in a dynamic and rapidly growing market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $255,000

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $235,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Auburn
    County
    Cayuga
    State
    New York
    Longitude
    -76.5468
    Latitude
    42.9517
    CBSA code
    12180
    CBSA name
    AUBURN, 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
    2019
    $6,538
    $581,900
    $263,900
    $845,800
    -
    $606,146
    $274,896
    $881,042

    Comparable in this City

    • Value Estimation
      $820,000
      33,549 SF

      15 John St

      MOTEL • 33,549 SF
      15 John St, Auburn, NY 13021
      View Details
    • Value Estimation
      $2,410,000
      21,118 SF

      37 William St

      MOTEL • 21,118 SF
      37 William St, Auburn, NY 13021-3728
      View Details
    • Value Estimation
      $335,000
      6,318 SF

      3401 Genesee St Rd

      MOTEL • 6,318 SF
      3401 Genesee St Rd, Auburn, NY 13021-8842
      View Details
    • Value Estimation
      $1,355,000
      17,610 SF

      19 Mcmaster St

      MOTEL • 17,610 SF
      19 Mcmaster St, Auburn, NY 13021-2447
      View Details
    • Value Estimation
      $495,000
      8,324 SF

      4239 Genesee St Rd

      MOTEL • 8,324 SF
      4239 Genesee St Rd, Auburn, NY 13021-8210
      View Details
    • Value Estimation
      $275,000
      12,960 SF

      7430 St Rd

      MOTEL • 12,960 SF
      7430 St Rd, Auburn, NY 13021-8225
      View Details

    Similar Nearby for Sale

    • $4,500,000
      2.00 Acres

      Auburn, NY Multifamily Investment

      Historic 60-unit apartment complex, strong cash flow.
      63-65 South St, Auburn, NY 13021
      View Details
    • $469,000
      5,230 SF

      Auburn Commercial Property - High Potential

      Mixed-use building, high rental income potential.
      235 State St, Auburn, NY 13021
      View Details
    • $949,000
      28,450 SF

      Auburn Bowling Center Investment

      Established Bowling Alley & Banquet Facility
      1379 Clark Street Rd, Auburn, NY 13021
      View Details
    • $249,900
      4,550 SF

      Auburn Commercial Building - Prime Location

      High-potential commercial space, below assessed value.
      187 Genesee St, Auburn, NY 13021
      View Details
    • $139,900
      20,491 SF

      Auburn Commercial Storage Facility

      High-Return Storage Investment Opportunity
      44 Washington St, Auburn, NY 13021
      View Details
    • $1,900,000
      1.72 Acres

      Auburn Retail Development Site

      Prime 1.72-acre development land, high traffic.
      255 Grant Ave, Auburn, NY 13021
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Redevelopment Opportunity in Auburn, NY

      Redevelopment opportunity for retail, medical, multifamily, and hospitality purposes.
      1579 Clark Street Rd, Auburn, NY 13021
      View Details
    • Contact for pricing
      245,666 SF

      Retail Space in Auburn Corridor

      Retail space with convenient access in a primary retail corridor.
      1628 Clark Street Rd, Auburn, NY 13021
      View Details
    • Contact for pricing
      85,089 SF

      Auburn Retail Space For Lease

      85,000 SF shopping center with in-line and pad site availability.
      315 Genesee Street Rd, Auburn, NY 13021
      View Details
    • Contact for pricing
      85,089 SF

      Auburn Towne Plaza Retail Space

      High-visibility retail space in Auburn, NY.
      315 Genesee St, Auburn, NY 13021
      View Details
    • Contact for pricing
      2,000 SF

      Downtown Auburn Office Space Available

      Office space for rent in downtown Auburn, Finger Lakes region.
      188 Genesee St, Auburn, NY 13021
      View Details
    • $1.30 SF/Yr
      1,043 SF

      Prime Corner Retail Space

      Corner retail space available for rent in Auburn, NY.
      150 Grant Ave, Auburn, NY 13021
      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.
    255 Grant Ave
    Auburn, NY 13021
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.