Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2993 State Rte 5th 5 Frankfort, NY 13340-5212
    Property profile & analytics

    2993 State Rte 5th 5 Frankfort, NY 13340-5212

    View on Map
    • Investment properties
    • 2,400 SF
    • 23.00 lot acres
    Off-Market
    Last Sale Apr 16, 2021
    Property ID
    US63-2320564
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 2993 State Rte 5th 5

    Year built
    2005
    Lot size
    23.00 lot acres
    Property size
    2,400 SF
    Zone code
    CH
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    214800 105.3-1-50
    APU
    2148001053150

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Frankfort
    County
    Herkimer
    State
    New York
    Longitude
    -75.1092
    Latitude
    43.075
    CBSA code
    46540
    CBSA name
    UTICA-ROME, NY METROPOLITAN 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
    2020
    $362
    $37,500
    $160,900
    $198,400
    -
    $63,830
    $273,872
    $337,702

    Comparable in this City

    • Value Estimation by Request
      4,200 SF

      122 Pleasant Ave

      STORE/OFFICE (MIXED USE) • 4,200 SF
      122 Pleasant Ave, Frankfort, NY 13340-1237
      View Details
    • Value Estimation
      $620,000
      4,888 SF

      4160 Acme Rd

      STORE/OFFICE (MIXED USE) • 4,888 SF
      4160 Acme Rd, Frankfort, NY 13340-3502
      View Details
    • Value Estimation
      $1,700,000
      10,678 SF

      4225 Acme Rd

      STORE/OFFICE (MIXED USE) • 10,678 SF
      4225 Acme Rd, Frankfort, NY 13340-3505
      View Details
    • Value Estimation by Request
      7,343 SF

      133 Main St

      STORE/OFFICE (MIXED USE) • 7,343 SF
      133 Main St, Frankfort, NY 13340-1133
      View Details
    • Value Estimation by Request
      5,194 SF

      143 Main St

      STORE/OFFICE (MIXED USE) • 5,194 SF
      143 Main St, Frankfort, NY 13340-1132
      View Details
    • Value Estimation by Request
      1,984 SF

      264 Main St

      STORE/OFFICE (MIXED USE) • 1,984 SF
      264 Main St, Frankfort, NY 13340-1112
      View Details

    Similar Nearby for Sale

    • New
      $215,000
      5,445 SF

      Mixed-Use Property in Frankfort, NY

      Mixed-use property with residential units and commercial storefront.
      250 E Main St, Frankfort, NY 13340
      View Details
    • Contact for pricing
      8,760 SF

      Leased Industrial Investment Opportunity

      Fully leased industrial property in Frankfort, NY with highway access.
      2338 Broad St, Frankfort, NY 13340
      View Details
    • $64,900
      12.00 Acres

      Schuyler, NY Land Parcel

      12-acre parcel in Fox Hollow Association, build your dream home.
      Cogar Dr, Schuyler, NY 13340
      View Details
    • Contact for pricing
      65,100 SF

      Renovated Flex Building in Frankfort

      65,100± SF flex building with office and warehouse space.
      126 Industrial Park Dr, Frankfort, NY 13340
      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.
    2993 State Rte 5th 5
    Frankfort, NY 13340-5212
    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

    Thank You for Inquiry
    2993 State Rte 5th 5, Frankfort, NY, 13340
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!