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Property profile & analytics
OFF-MARKET
Estimated value
$1,080,000
Manufacturing properties
31 Area Development Dr, Plattsburgh, NY 12901-6505
Individually Owned
12-yr Hold
Free & Clear
Property ID
US63-2503953
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1982
Total area
80,000 SF
Lot
6.9 ac (300,564 SF)
Zoning code
IP
APN
094200 220.-1-3.25
UPID
US63-2503953
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
Current use
Occupant on record · Public records
-
SpencerARL New York, Inc. Industrial Manufacturer Production Facility
-
SpencerARL Freight Service Logistics Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.08M
Owner & transaction history
Clinton Cnty Ny · 12 yrs held
Clinton Cnty Ny
since 2014
3 recorded transactions
Zoning & alternative use
IP · Plattsburgh, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Plattsburgh submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Plattsburgh 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
INDUSTRIAL (GENERAL)
$1,590,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$1,485,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$1.08M
Range $972k – $1.19M · ±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
$14 / 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
$2,900,000
Assessed 2023
Previous assessed
$2,900,000
+0.0% YoY
Assessed land
$298,100
Assessed improvement
$2,601,900
Land market value
$350,710
Improvement market value
$3,061,090
Total market value
$3,411,800
Applied tax rate
92,401.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1982
Heating
NONE
Cooling
PARTIAL
Buildings
1
Stories
1
Total area
80,000 SF
Lot
6.9 ac (300,564 SF)
Zoning code
IP
APN
094200 220.-1-3.25
UPID
US63-2503953
Jurisdiction
CLINTON
Zoning & alternative use
IP · Plattsburgh, NY
Zoning IP · permitted uses
IP · Plattsburgh, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Plattsburgh. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.5M
INDUSTRIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
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
1982
Heating
NONE
Cooling
Yes
Stories
1
Buildings
1
Lot
6.9 ac
Current owner
From public records · entity-resolved
Clinton Cnty Ny
Individual
Free & Clear · 12 yrs held
Mailing address
109 INDUSTRIAL BLVD, PLATTSBURGH, NY 12901-1999
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 16, 2020
—
Development Corp Clinton Cnty
—
Deed
related
$6,400,000 · Champlain Nat'l Bk
Mar 27, 2014
—
Clinton Cnty Ny
County Of Clinton
Quit Claim Deed
related
—
—
—
Development Corp Clinton Cnty
—
Deed Of Trust
related
$6,400,000 · Champlain Nat'l Bk
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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