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Property profile & analytics
OFF-MARKET
Estimated value
$1,905,000
Automotive properties
3861 State Rte 281, Cortland, NY 13045
Entity Owned
~
Est. High Equity
Property ID
US63-1658487
Property profile
Verified
Property type
Automotive properties
Use group
VEHICLE SALES, RENTALS
Year built
1970
Total area
22,598 SF
Lot
5.25 ac (228,690 SF)
Zoning code
05 - COMMERCIAL
APN
112289 86.17-01-11.100
UPID
US63-1658487
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
by Request
Comparable Approach
Comparable
$1.72M
Blend (final)
Blend
$1.91M
Owner & transaction history
Forkey Constr & Fabri INC
Forkey Constr & Fabri INC
since 2025
Last sale
$2.0M
5 recorded transactions
Zoning & alternative use
05 - COMMERCIAL · Cortland, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$2.3M
+13.2%
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 Cortland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cortland 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
AUTO REPAIR, GARAGE
$2,075,000
Current use
RESTAURANT
$2,345,000
Change: +13% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,805,000
Change: -13% · Conversion: Moderate
Blend value · Realmo final
$1.91M
Range $1.71M – $2.10M · ±10% · vs last sale $2.00M (May 28 2025)
Last sale anchor
$2.00M
May 28 2025
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
$84 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$24,310
Tax year 2023
Assessed value
$1,104,400
Assessed 2023
Previous assessed
$1,104,400
+0.0% YoY
Effective rate
2.20%
On assessed value
Assessed land
$416,000
Assessed improvement
$688,400
Land market value
$594,286
Improvement market value
$983,428
Total market value
$1,577,714
Applied tax rate
113,001.0000
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
Automotive properties
Use group
VEHICLE SALES, RENTALS
Status
Off-Market
Year built
1970
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
22,598 SF
Lot
5.25 ac (228,690 SF)
Zoning code
05 - COMMERCIAL
APN
112289 86.17-01-11.100
UPID
US63-1658487
Jurisdiction
CORTLAND
Zoning & alternative use
05 - COMMERCIAL · Cortland, NY
Zoning 05 - COMMERCIAL · permitted uses
05 - COMMERCIAL · Cortland, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Cortland. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE Current
Est. value
$2.1M
RESTAURANT
Est. value
$2.3M
COMMERCIAL (GENERAL)
Est. value
$1.8M
AUTO REPAIR, GARAGE Current
RESTAURANT
COMMERCIAL (GENERAL)
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
1970
Heating
NONE
Cooling
Yes
Stories
1
Buildings
1
Lot
5.25 ac
Current owner
From public records · entity-resolved
Forkey Constr & Fabri INC
Entity
Mailing address
4401 COLWICK RD, CHARLOTTE, NC 28211-2311
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 28, 2025
$2,000,000
Forkey Constr & Fabri INC
Echopark Realty Ny LLC
Deed
—
Mar 20, 2023
—
Echopark Realty Ny LLC
—
Deed
related
$600,000,000 · Pnc Bank NA
Dec 28, 2021
$4,150,000
Echopark Realty Ny LLC
Uck 3 LLC
Warranty Deed
—
Mar 16, 2015
—
Uck Three LLC
Used Car King LLC
Warranty Deed
related
—
Sep 28, 2012
$170,000
Used Car King LLC
Newcomb,harry
Warranty Deed
—
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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