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    Property profile & analytics

    3602 State St Schenectady, NY 12304

    • Drive through restaurants
    • 2,560 SF
    • 0.44 lot acres
    OFF-MARKET
    Last Sale
    Nov 16, 2022
    $1,550,000
    Value Estimations
    $1,370,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0913357
    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.

    Current Use by Public Records

    • Drive through restaurants

    Property Details for 3602 State St

    Year built
    2000
    Lot size
    0.44 lot acres
    Property size
    2,560 SF
    Zone code
    CH
    Property type
    Drive through restaurants
    APN
    422400 60.19-1-5
    APU
    422400601915

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,265,000
      ML approach
      $1,110,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Schenectady
    County
    Schenectady
    State
    New York
    Longitude
    -73.8929
    Latitude
    42.7699
    CBSA code
    10580
    CBSA name
    ALBANY-SCHENECTADY-TROY, 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
    $198,000
    $502,000
    $700,000
    -
    $250,640
    $635,460
    $886,100

    Comparable in this City

    • Value Estimation
      $2,105,000
      3,312 SF

      2500 Albany St

      DRIVE-THRU RESTAURANT, FAST FOOD • 3,312 SF
      2500 Albany St, Schenectady, NY 12304-3580
      View Details
    • Value Estimation
      $720,000
      4,933 SF

      3700 State St

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,933 SF
      3700 State St, Schenectady, NY 12304-4273
      View Details
    • Value Estimation by Request
      1,712 SF

      2441 Watt St

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,712 SF
      2441 Watt St, Schenectady, NY 12304
      View Details
    • Value Estimation by Request
      1,088 SF

      2013 State St

      DRIVE-THRU RESTAURANT, FAST FOOD • 1,088 SF
      2013 State St, Schenectady, NY 12304-2138
      View Details
    • Value Estimation
      $620,000
      4,435 SF

      1224 State St

      DRIVE-THRU RESTAURANT, FAST FOOD • 4,435 SF
      1224 State St, Schenectady, NY 12304-2622
      View Details
    • Value Estimation by Request
      1,689 SF

      1605 Becker St

      RESTAURANT • 1,689 SF
      1605 Becker St, Schenectady, NY 12304-1101
      View Details

    Similar Nearby for Sale

    • $950,000
      2,368 SF

      Schenectady Commercial Opportunity For Sale

      Turnkey restaurant and bar with apartment in high-traffic location.
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    • $420,000
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      Prime Corner Lot on Central

      1.3 acre corner lot with high visibility and income.
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      Prime Schenectady Retail Property

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    • $389,000
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      Well-Maintained Commercial Property in Colonie

      Updated commercial property in a high-traffic Colonie location.
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    • $299,000
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      Retail Deli/Convenience Store For Sale

      Retail deli/convenience store in high-traffic area, equipment included.
      534 Kings Rd, Schenectady, NY 12304
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    • $99,900
      0.55 Acres

      Schenectady Land For Sale

      Corner lot with road frontage, ready to build.
      L.18 Climax Ave, Schenectady, NY 12304
      View Details

    Similar Nearby for Lease

    • $35 SF/Yr
      80,000 SF

      Retail Space Near Mohawk Commons

      Retail spaces available in shopping center near Mohawk Commons.
      441 Balltown Rd, Schenectady, NY 12304
      View Details
    • $25 SF/Yr
      11,700 SF

      Retail Space Available For Lease

      Retail property available for lease, offering 11,700 square feet.
      2330 Watt St, Schenectady, NY 12304
      View Details
    • $10 SF/Yr
      19,830 SF

      Retail Space on State Street

      Retail space available on State Street in Schenectady, New York.
      1818 State St, Schenectady, NY 12304
      View Details
    • Contact for pricing

      Turnkey Salon with High-End Finishes

      Fully equipped salon space available for rent near major highways.
      2452 Albany St #Suite, Schenectady, NY 12304
      View Details
    • $1.00 SF/Yr
      21,714 SF

      Mixed-Use Retail Plaza For Rent

      Mixed-use retail plaza with apartments, warehouse, garages, and parking.
      1480 State St, Schenectady, NY 12304
      View Details
    • Contact for pricing
      58,005 SF

      Woodlawn Plaza: Prime Schenectady Space

      Retail/Office Opportunity, 16,000 SF Available
      1594 State St, Schenectady, NY 12304
      View Details
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    3602 State St
    Schenectady, NY 12304
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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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