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Property profile & analytics
FOR LEASE
Investment properties
37199 State Highway 23, Grand Gorge, NY 12434
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US63-1859476
For Lease
1 / 14
$2,000/Mo
37199 State Highway 23, Grand Gorge, NY 12434
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1960
Total area
6,336 SF
Lot
0.44 ac (19,166 SF)
Zoning code
01 - NOT ZONED
APN
124800 91.2-3-18
UPID
US63-1859476
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
$940k
Comparable Approach
Comparable
$580k
Blend (final)
Blend
$775k
Owner & transaction history
Roxbury Garage LLC · 7 yrs held
Roxbury Garage LLC
since 2018
2 recorded transactions
Zoning & alternative use
01 - NOT ZONED · Grand Gorge, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$860,000
+103.2%
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 Grand Gorge submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Grand Gorge 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%
$1,020,000
6.5%
$940,000
7%
$875,000
Alternative Use
Use
Estimation
RESTAURANT
$860,000
Change: +103% · Conversion: Difficult
Blend value · Realmo final
$775k
Range $698k – $853k · ±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
$122 / 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
$4,005
Tax year 2020
Assessed value
$350,000
Assessed 2023
Previous assessed
$350,000
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$16,600
Assessed improvement
$333,400
Land market value
$24,411
Improvement market value
$490,289
Total market value
$514,700
Applied tax rate
124,802.0000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
For Lease
Year built
1960
Heating
NONE
Buildings
1
Stories
2
Total area
6,336 SF
Lot
0.44 ac (19,166 SF)
Zoning code
01 - NOT ZONED
APN
124800 91.2-3-18
UPID
US63-1859476
Jurisdiction
DELAWARE
Zoning & alternative use
01 - NOT ZONED · Grand Gorge, NY
Zoning 01 - NOT ZONED · permitted uses
01 - NOT ZONED · Grand Gorge, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Grand Gorge. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$860,000
RESTAURANT
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
1960
Heating
NONE
Stories
2
Buildings
1
Lot
0.44 ac
Current owner
From public records · entity-resolved
Roxbury Garage LLC
Entity
Mailing address
200 OLD COUNTRY RD #5400, MINEOLA, NY 11501-4235
Ownership since
2018
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
Sep 6, 2022
—
Roxbury Garage LLC
—
Deed
related
$50,000 · Wayne Bank
Dec 7, 2018
$145,000
Roxbury Garage LLC
David Merwin
Deed
$108,750 · Delaware National Bank
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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