Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    279 Washington St Athens, NY 12015

    • Office buildings
    • 1,200 SF
    • 89.45 lot acres
    OFF-MARKET
    Last Sale
    Mar 10, 2024
    $400,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-4297712
    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

    • Office buildings

    Property Details for 279 Washington St

    Year built
    1985
    Lot size
    89.45 lot acres
    Property size
    1,200 SF
    Zone code
    03 - MULTI-FAMILY
    Property type
    Office buildings
    APN
    192201 122.07-2-36
    APU
    19220112207236

    Description

    Exceptional 89.42-acre commercial land parcel presents a remarkable development opportunity in Athens, New York. This pristine property boasts a prime location, steps from the Hudson River's west bank, and offers convenient access to major transportation arteries. Currently zoned for single-family and two-family residential development, the land has preliminary concept approval for an 18-lot residential subdivision in its first phase. Public water and sewer services are available, simplifying infrastructure development. The site's strategic location between New York City and Albany provides easy access to a large and diverse population base. Within minutes of the Hudson Amtrak station and NY State Thruway (I-87), this location offers unparalleled convenience. Nearby amenities include the Athens boat launch, historic downtown Athens, the City of Hudson, and a wealth of restaurants, bars, breweries, and wineries. Adjacent to a resort-style lakefront community, this property offers a unique blend of natural beauty and urban accessibility. The asking price is $989,000, translating to $11,000 per acre. Don't miss this chance to acquire a truly exceptional development site.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Athens
    County
    Greene
    State
    New York
    Longitude
    -73.7989
    Latitude
    42.2821

    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
    $283,400
    $45,600
    $329,000
    -
    $283,400
    $45,600
    $329,000

    Comparable in this City

    • Value Estimation
      $260,000
      1,380 SF

      2008 State Rte 385

      OFFICE BUILDING • 1,380 SF
      2008 State Rte 385, Athens, NY 12015-6410
      View Details
    • Value Estimation
      $885,000
      4,022 SF

      64 Washington St

      OFFICE BUILDING • 4,022 SF
      64 Washington St, Athens, NY 12015-1108
      View Details
    • Value Estimation
      $270,000
      368 SF

      8703 Rte 9w

      OFFICE BUILDING • 368 SF
      8703 Rte 9w, Athens, NY 12015
      View Details
    • Value Estimation
      $335,000
      12,432 SF

      2 1st St

      OFFICE BUILDING • 12,432 SF
      2 1st St, Athens, NY 12015-1340
      View Details
    • Value Estimation by Request
      71.87 Acres

      Rte 9w

      INDUSTRIAL - VACANT LAND • 71.87 Acres
      Rte 9w, Athens, NY 12015
      View Details
    • Value Estimation by Request

      Vlg Of Athens

      SBE - SPECIAL ASSESSMENTS
      Vlg Of Athens, Athens, NY 12015
      View Details

    Similar Nearby for Sale

    • $599,000
      4,375 SF

      Athens Village Commercial Property Opportunity

      Prime commercial property in Athens, NY, with revitalization plans underway.
      70 N Washington St, Athens, NY 12015
      View Details
    • $485,000
      2,016 SF

      Versatile Colonial on Route 9W

      1880 Colonial with commercial/residential zoning in Athens, NY.
      8874 Rte, Athens, NY 12015
      View Details
    • Contact for pricing
      0.22 Acres

      Creekfront Lot in Athens, NY

      0.22-acre creekfront lot near Sleepy Hollow Lake.
      5 Woodpecker Ct, Athens, NY 12015
      View Details
    • $52,000
      0.88 Acres

      Wooded Lot in Sleepy Hollow

      0.88 acre wooded lot near lakefront park.
      4 Catskill Ct, Athens, NY 12015
      View Details
    • Contact for pricing

      Wooded Lot in Sleepy Hollow

      Building lot with lake access and community amenities.
      9 River View Ct, Athens, NY 12015
      View Details
    • $385,000
      5,000 SF

      Prime Athens Commercial Garage

      Spacious 5,000 sq ft garage, 2.53 acres
      8689 Us Route 9W, Athens, NY 12015
      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.
    279 Washington St
    Athens, NY 12015
    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.