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    3261 Us Rte 20 Cazenovia, NY 13035-9434
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    Property profile & analytics

    3261 Us Rte 20 Cazenovia, NY 13035-9434

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    • Investment properties
    • 8,600 SF
    • 0.57 lot acres
    Off-Market
    Property ID
    US63-2727680
    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
    $1,085,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 3261 Us Rte 20

    Year built
    1980
    Lot size
    0.57 lot acres
    Property size
    8,600 SF
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    254200 96.19-1-12
    APU
    2542009619112

    Description

    This exceptional 7,812 square foot commercial property, situated on a 0.57-acre lot at 3261 US Route 20 in Cazenovia, NY, presents a unique investment opportunity. Formerly known as The Nelson Inn and Nelson Farms, this landmark building boasts a prime location in a high-traffic area between several thriving towns, ensuring a consistent flow of potential customers. The property is ideally suited for a variety of uses, including restaurants, bars, distilleries, breweries, or other food service establishments. Its spacious layout also makes it perfect for hosting events, parties, and social gatherings. The sale includes substantial kitchen equipment and three large walk-in coolers, providing a significant head start for any culinary venture. Priced competitively at $575,000, this property offers a solid foundation for success, whether you aim to revive its historical legacy as a community gathering place or create a modern culinary destination. The building's versatile nature and strategic location present endless possibilities for a discerning buyer. Don't miss this chance to acquire a truly remarkable commercial property in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $780,000
      Market price range: $162k - $781k
      AI Estimate
      $998,000
      Market price range: $511k - $998k

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

    Location Insight

    • Map
    • Local Demand
    City
    Cazenovia
    County
    Madison
    State
    New York
    Longitude
    -75.777
    Latitude
    42.9176
    CBSA code
    45060
    CBSA name
    SYRACUSE, 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
    0
    $0.00
    $106,200
    $991,400
    $1,097,600
    -
    $153,913
    $1,436,812
    $1,590,725

    Comparable in this City

    • Value Estimation by Request
      3,555 SF

      99 Albany St

      STORE/OFFICE (MIXED USE) • 3,555 SF
      99 Albany St, Cazenovia, NY 13035-1216
      View Details
    • Value Estimation by Request
      2,394 SF

      4035 Nelson Rd

      STORE/OFFICE (MIXED USE) • 2,394 SF
      4035 Nelson Rd, Cazenovia, NY 13035-8406
      View Details
    • Value Estimation by Request
      2,320 SF

      2830 Us Rte 20

      STORE/OFFICE (MIXED USE) • 2,320 SF
      2830 Us Rte 20, Cazenovia, NY 13035-8441
      View Details
    • Value Estimation by Request
      3,119 SF

      23 12th William St

      STORE/OFFICE (MIXED USE) • 3,119 SF
      23 12th William St, Cazenovia, NY 13035-1135
      View Details
    • Value Estimation by Request
      3,472 SF

      4318 Rte 20

      STORE/OFFICE (MIXED USE) • 3,472 SF
      4318 Rte 20, Nelson, NY 13035
      View Details
    • Value Estimation by Request
      4,680 SF

      24 Lincklaen St

      STORE/OFFICE (MIXED USE) • 4,680 SF
      24 Lincklaen St, Cazenovia, NY 13035-9998
      View Details

    Similar Nearby for Sale

    • $90,000
      Pending

      Cazenovia Land: 26-Acre Wooded Lot

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      L1 Bear Swamp Rd, Cazenovia, NY 13035
      View Details
    • $225,000
      2,750 SF

      Cazenovia Commercial Storage Units

      Nine income-producing units, prime location.
      28 Clark St, Cazenovia, NY 13035
      View Details
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    Cazenovia, NY 13035-9434
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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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