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    Property profile & analytics

    2807 Genesee St Utica, NY 13501

    • Commercial real estate
    • 1,625 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3508521
    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

    • Commercial real estate

    Property Details for 2807 Genesee St

    Property size
    1,625 SF
    Property type
    Commercial real estate

    Description

    This exceptional commercial property at 2807 Genesee Street in Utica, New York, presents a compelling investment opportunity. Priced at $224,900, this 1,625 square foot retail space sits on a substantial 17,593 square foot lot (approximately 115 x 153 feet), offering ample room for parking and potential expansion. The property's zoning, Neighborhood Mixed Use, allows for diverse uses, including continued retail operation, conversion to a first-class office space, or development into a multi-family dwelling. Its prime location on Genesee Street, just south of the Village of New Hartford, ensures excellent visibility and accessibility. Adding to its versatility, a separate outbuilding with electricity is included, suitable for use as a studio, workshop, or additional office space. This stately Colonial-style building presents a unique blend of character and potential, making it an attractive prospect for investors and entrepreneurs seeking a high-visibility location in a thriving area. The property is located in Oneida County, New York, with a zip code of 13501. This is a rare opportunity to acquire a well-situated property with significant development potential in a desirable Utica neighborhood.

    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
    Utica
    County
    Oneida
    State
    New York
    Longitude
    -75.2835197
    Latitude
    43.0751933

    Comparable in this City

    • $650,000
      555 SF

      Utica Storefront: Prime Genesee St Location

      Vacant storefront, 555 sq ft, high traffic area.
      2639 Genesee St, Utica, NY 13501
      View Details
    • $299,000

      Turnkey Restaurant and Bar Opportunity

      Newly renovated restaurant and bar in a high-visibility location.
      709 Albany St, Utica, NY 13501
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    • $139,900
      1,619 SF

      Commercial Building in Utica, NY

      Commercial building suitable for auto repair and autobody shop.
      403 Bacon St, Utica, NY 13501
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    • New
      $189,900
      2,919 SF

      Utica Retail/Office Opportunity

      Retail and office space available for sale in Utica, NY.
      515 Nichols St, Utica, NY 13501
      View Details
    • $3,807,000
      23,107 SF

      Freestanding NNN M&T Bank

      NNN leased M&T Bank with zero landlord responsibilities.
      235 N Genesee St, Utica, NY 13501
      View Details
    • $399,000
      4,830 SF

      Retail Building with Apartment

      Retail space with apartment and garage in Utica, NY.
      300306 Kossuth Ave, Utica, NY 13501
      View Details

    Similar Nearby for Sale

    • $650,000
      555 SF

      Utica Storefront: Prime Genesee St Location

      Vacant storefront, 555 sq ft, high traffic area.
      2639 Genesee St, Utica, NY 13501
      View Details
    • $299,000

      Turnkey Restaurant and Bar Opportunity

      Newly renovated restaurant and bar in a high-visibility location.
      709 Albany St, Utica, NY 13501
      View Details
    • $139,900
      1,619 SF

      Commercial Building in Utica, NY

      Commercial building suitable for auto repair and autobody shop.
      403 Bacon St, Utica, NY 13501
      View Details
    • New
      $189,900
      2,919 SF

      Utica Retail/Office Opportunity

      Retail and office space available for sale in Utica, NY.
      515 Nichols St, Utica, NY 13501
      View Details
    • $3,807,000
      23,107 SF

      Freestanding NNN M&T Bank

      NNN leased M&T Bank with zero landlord responsibilities.
      235 N Genesee St, Utica, NY 13501
      View Details
    • $399,000
      4,830 SF

      Retail Building with Apartment

      Retail space with apartment and garage in Utica, NY.
      300306 Kossuth Ave, Utica, NY 13501
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      Corner Lot for Lease

      1.18+/- acre corner lot suitable for retail or office development.
      515 Broad St, Utica, NY 13501
      View Details
    • $2,900 /Mo
      2,434 SF

      Former Restaurant with Drive-Thru

      Downtown Utica restaurant space with drive-thru and parking.
      326 Genesee St, Utica, NY 13501
      View Details
    • Contact for pricing
      3,000 SF

      Utica Retail Space: Prime Location

      Free-standing retail building, 3,000 sq ft, 1.18 acres.
      515 Broad St, Utica, NY 13501
      View Details
    • $8 SF/Yr
      11,003 SF

      Flexible Space Available For Lease

      Up to 11,003 SF flexible space ideal for various uses.
      506 Nichols St, Utica, NY 13501
      View Details
    • Contact for pricing
      4,600 SF

      Retail Space in Utica Center

      Retail space available in Hannaford anchored neighborhood center.
      1100-1154 Mohawk St, Utica, NY 13501
      View Details
    • $15 SF/Yr
      2,527 SF

      Downtown Utica Mixed-Use Building

      Renovated retail and office spaces in Downtown Utica.
      239 Genesee St, Utica, NY 13501
      View Details
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    2807 Genesee St
    Utica, NY 13501
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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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