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    Property profile & analytics

    26 Empire St Franklinville, NY 14737

    • Manufacturing properties
    • 67,772 SF
    • 5.01 lot acres
    For Sale
    View listing
    $1,800,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-4590025
    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

    • Manufacturing properties

    Property Details for 26 Empire St

    Year built
    1930
    Lot size
    5.01 lot acres
    Property size
    67,772 SF
    Property type
    Manufacturing properties
    APN
    044001 40.062-2-9
    APU
    440014006229

    Description

    This exceptional industrial property, located at 26 Empire St, Franklinville, NY 14737, presents a significant investment opportunity. The Ontario Knife Building boasts a substantial 91,544 square feet of space, situated on a five-acre lot. Currently vacant, this warehouse and manufacturing facility offers immense potential for a variety of uses. Its strategic location just off Main Street in Franklinville provides easy access to transportation routes and key amenities. A noteworthy feature is a significant multi-million dollar expansion completed in 2014, adding over 24,000 square feet of space (detailed photos are available). The property benefits from its proximity to the new Great Lakes Cheese Factory, a nearly 500,000 square foot state-of-the-art facility. This prime location makes it ideal for manufacturing, light assembly, storage, or warehousing operations. The asking price for this substantial industrial property is $1,800,000. This presents a rare chance to acquire a well-situated, expansive industrial building in Cattaraugus County, New York, ready for immediate occupancy and tailored to various business needs. The property is categorized as industrial, with subtypes of warehouse and manufacturing.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $585,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $849,000
      Market price range: $849k - $2.77M

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

    Location Insight

    • Map
    • Local Demand
    City
    Franklinville
    County
    Cattaraugus
    State
    New York
    Longitude
    -78.4607
    Latitude
    42.3395
    CBSA code
    36460
    CBSA name
    OLEAN, 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
    $26,900
    $323,100
    $350,000
    -
    $59,778
    $718,000
    $777,778

    Comparable in this City

    • Value Estimation
      $575,000
      26,664 SF

      Elm St

      MANUFACTURING (LIGHT) • 26,664 SF
      Elm St, Franklinville, NY 14737
      View Details
    • Value Estimation
      $550,000
      21,575 SF

      29 Elm St

      MANUFACTURING (LIGHT) • 21,575 SF
      29 Elm St, Franklinville, NY 14737
      View Details
    • Value Estimation
      $360,000
      4,320 SF

      11 Empire St

      MANUFACTURING (LIGHT) • 4,320 SF
      11 Empire St, Franklinville, NY 14737-1005
      View Details
    • Value Estimation
      $460,000
      17,544 SF

      Elm St

      MANUFACTURING (LIGHT) • 17,544 SF
      Elm St, Franklinville, NY 14737
      View Details
    • Value Estimation
      $535,000
      25,000 SF

      26 Empire St

      MANUFACTURING (LIGHT) • 25,000 SF
      26 Empire St, Franklinville, NY 14737-1006
      View Details
    • Value Estimation
      $2,485,000
      66,100 SF

      30 Pennsylvania Ave

      MANUFACTURING (LIGHT) • 66,100 SF
      30 Pennsylvania Ave, Franklinville, NY 14737-1206
      View Details

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    26 Empire St
    Franklinville, NY 14737
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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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