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Property profile & analytics
OFF-MARKET
Estimated value
$1,480,000
Turn key restaurants
3062 State Rte 28 Old Forge, NY 13420-7837
Individually Owned
17-yr Hold
Free & Clear
Property ID
US63-1910297
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
2009
Total area
18,156 SF
Lot
0.6 ac (26,136 SF)
Zoning code
CB
APN
215400 041.51-4-30
UPID
US63-1910297
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
by Request
Blend (final)
Blend
$1.48M
Owner & transaction history
Main Street Old Forge, Ll · 17 yrs held
Main Street Old Forge, Ll
since 2009
2 recorded transactions
Zoning & alternative use
CB · Old Forge, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.3M
+18.1%
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 Old Forge submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Old Forge 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
RESTAURANT
$1,910,000
Current use
COMMERCIAL (GENERAL)
$2,255,000
Change: +18% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,635,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$1.48M
Range $1.33M – $1.63M · ±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
$82 / 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
Tax year 2020Property tax & assessments
Tax year 2020
Tax billed
$2,056
Tax year 2020
Assessed value
$1,048,200
Assessed 2023
Previous assessed
$1,048,200
+0.0% YoY
Effective rate
0.20%
On assessed value
Assessed land
$48,000
Assessed improvement
$1,000,200
Land market value
$66,946
Improvement market value
$1,394,979
Total market value
$1,461,925
Applied tax rate
215,401.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
2009
Heating
HOT WATER
Cooling
CENTRAL
Buildings
2
Stories
3
Bathrooms
1
Total area
18,156 SF
Lot
0.6 ac (26,136 SF)
Zoning code
CB
APN
215400 041.51-4-30
UPID
US63-1910297
Jurisdiction
HERKIMER
Zoning & alternative use
CB · Old Forge, NYZoning CB · permitted uses
CB · Old Forge, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$1.6M
RESTAURANT Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2009
Heating
HOT WATER
Cooling
Yes
Stories
3
Buildings
2
Bathrooms
1
Lot
0.6 ac
Current owner
From public records · entity-resolved
Main Street Old Forge, Ll
Individual
Free & Clear · 17 yrs held
Mailing address
PO BOX 237, OLD FORGE, NY 13420-0237
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 8, 2009
—
Main Street Old Forge, Ll
Cedar Beach LLC
Deed
—
Jul 25, 2007
$180,000
Cedar Beach LLC
James B Herron
Deed
—
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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