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    35033 Eddy Rd Theresa, NY 13691-2290

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    35033 Eddy Rd Theresa, NY 13691-2290

    View on Map
    • Mobile home & RV parks
    • 1,296 SF
    • 143.30 lot acres
    Off-Market
    Property ID
    US63-3618580
    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
    $575,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Indian River Estates / Campground & RV Park

    Property Details for 35033 Eddy Rd

    Year built
    1987
    Lot size
    143.30 lot acres
    Property size
    1,296 SF
    Property type
    Mobile home & RV parks
    APN
    225689 34.00-1-39.1
    APU
    22568934001391

    Description

    This exceptional 103-unit mobile home park in Theresa, NY, presents a compelling investment opportunity. Situated on a sprawling 144-acre lot in Jefferson County, this Class B property boasts significant development potential with pre-approved plans for an additional 100 sites by the New York State Health Department. Currently operating at 79.72% occupancy, the park generates a strong NOI of $244,899, yielding a 9.24% cap rate. Pro forma projections indicate a substantial increase to a 10.50% cap rate and a NOI of $278,274. The park features 73 occupied lots, with a mix of 44 tenant-owned and 30 park-owned homes, along with 29 vacant lots ready for development. Infrastructure is robust, including paved roads, underground utilities (including natural gas), a newly constructed water system (installed in 2018, complete with supply pumps, filtration, and controls), and a private septic system comprised of three separate tanks and five sand-filtered beds. This well-maintained property offers a rare combination of immediate income and significant future growth potential in a desirable location. The expansive acreage provides ample room for expansion and future development, capitalizing on the pre-approved plans for additional sites. This is an ideal investment for those seeking a strong return on investment with considerable upside. The property is located at 35033 Eddy Rd, Theresa, NY 13691.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $455,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $696,000
      Market price range: $305k - $814k

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

    Location Insight

    • Map
    • Local Demand
    City
    Theresa
    County
    Jefferson
    State
    New York
    Longitude
    -75.7961
    Latitude
    44.1784
    CBSA code
    48060
    CBSA name
    WATERTOWN-FORT DRUM, NY MICROPOLITAN 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
    $995,000
    $997,200
    $1,992,200
    -
    $1,143,678
    $1,146,207
    $2,289,885

    Comparable in this City

    • Value Estimation by Request
      550 SF

      27450 State Rte 26

      MOBILE HOME PARK, TRAILER PARK • 550 SF
      27450 State Rte 26, Theresa, NY 13691-2026
      View Details
    • Value Estimation by Request
      732 SF

      33719-769 Nys Rte 37

      MOBILE HOME PARK, TRAILER PARK • 732 SF
      33719-769 Nys Rte 37, Theresa, NY 13691
      View Details
    • Value Estimation by Request
      1,612 SF

      43475 Muskelunge Lk Cp Rd

      CAMPGROUND, RV PARK • 1,612 SF
      43475 Muskelunge Lk Cp Rd, Theresa, NY 13691
      View Details
    • Value Estimation by Request
      416 SF

      26871 Wilson Rd

      CAMPGROUND, RV PARK • 416 SF
      26871 Wilson Rd, Theresa, NY 13691-3094
      View Details
    • Value Estimation by Request
      25.95 Acres

      24735-769 Nys Rte 411

      VACANT COMMERCIAL LAND • 25.95 Acres
      24735-769 Nys Rte 411, Theresa, NY 13691
      View Details
    • Value Estimation by Request
      2.20 Acres

      Of Nys Rte 411

      VACANT COMMERCIAL LAND • 2.20 Acres
      Of Nys Rte 411, Theresa, NY 13691
      View Details

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      Theresa Triplex: Investment Opportunity

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    • $120,000
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      Theresa, NY Four-Unit Multifamily Property

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    • $469,900
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      Jefferson County Recreational Agricultural Retreat

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    35033 Eddy Rd
    Theresa, NY 13691-2290
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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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