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Property profile & analytics
FOR LEASE
Investment properties
2609 2Nd Ave, Watervliet, NY 12189
Trust Owned
12-yr Hold
Absentee Owner
Free & Clear
Property ID
US63-2017199
For Lease
$12 SF/Yr
2609 2Nd Ave, Watervliet, NY 12189
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1972
Total area
20,125 SF
Lot
2.3 ac (100,188 SF)
Zoning code
14
APN
012689 32.8-3-8
UPID
US63-2017199
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.25M
Blend (final)
Blend
$1.40M
Owner & transaction history
Stillman,thomas W Trust · 12 yrs held
Stillman,thomas W Trust
since 2014
1 recorded transaction
Zoning & alternative use
14 · Watervliet, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.2M
+44.3%
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 Watervliet submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Watervliet 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,515,000
Current use
AUTO REPAIR, GARAGE
$2,190,000
Change: +44% · Conversion: Difficult
OFFICE BUILDING
$1,295,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$1.40M
Range $1.26M – $1.54M · ±10%
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
$70 / 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
$870,000
Assessed 2023
Previous assessed
$870,000
+0.0% YoY
Assessed land
$103,500
Assessed improvement
$766,500
Land market value
$202,943
Improvement market value
$1,502,957
Total market value
$1,705,900
Applied tax rate
12,605.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
For Lease
Year built
1972
Heating
NONE
Cooling
CENTRAL
Buildings
2
Stories
1
Total area
20,125 SF
Lot
2.3 ac (100,188 SF)
Zoning code
14
APN
012689 32.8-3-8
UPID
US63-2017199
Jurisdiction
ALBANY
Zoning & alternative use
14 · Watervliet, NY
Zoning 14 · permitted uses
14 · Watervliet, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Watervliet. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$2.2M
OFFICE BUILDING
Est. value
$1.3M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1972
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Lot
2.3 ac
Current owner
From public records · entity-resolved
Stillman,thomas W Trust
Trust
Free & Clear · 12 yrs held
Mailing address
16 MIDWAY DR, ALBANY, NY 12205-4202
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 27, 2014
—
Stillman,thomas W Trust
Stillman,thomas W
Quit Claim Deed
related
—
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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