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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3899 Carman Rd Schenectady, NY 12303

    • Investment properties
    • 5,000 SF
    • 1.00 lot acres
    For Sale
    View listing
    $1,400,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2382718
    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

    • Albany Beverage Corporation. / Liquor Store / Beer Store

    Property Details for 3899 Carman Rd

    Year built
    1950
    Lot size
    1.00 lot acres
    Property size
    5,000 SF
    Zone code
    LB
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    013089 39.11-1-8
    APU
    13089391118

    Description

    Exceptional opportunity to acquire a thriving convenience store in Schenectady, NY. This 5,000 square foot retail property, situated on a one-acre lot at a busy intersection across from Hannaford Plaza, offers significant potential. The building features one loading dock, a full basement with at-grade truck access, a large basement keg cooler, and two display coolers. Recent capital improvements include new cooler condensers, a resurfaced parking lot, and a roof replacement. The property is zoned LOCAL BUSINESS (LB) and benefits from municipal water and sewer. The annual real estate taxes are $9,770.16 ($1.95 per square foot). The asking price for the real estate is $1,589,000, with a net operating income (NOI) of $168,962. The business is also for sale, including the license, fork truck, racks, and coolers, for a total price of $2,619,000. This turnkey operation is ideally positioned in a densely populated residential area, making it an attractive investment for savvy entrepreneurs. The property's prime location and recent upgrades ensure a smooth transition for the new owner.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $235,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $386,000
      Market price range: $175k - $439k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $305,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Schenectady
    County
    Albany
    State
    New York
    Longitude
    -73.9315
    Latitude
    42.7164
    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
    $100,000
    $250,800
    $350,800
    -
    $117,647
    $295,059
    $412,706

    Comparable in this City

    • Value Estimation
      $220,000
      3,584 SF

      1500 Crane St

      STORE/OFFICE (MIXED USE) • 3,584 SF
      1500 Crane St, Schenectady, NY 12303-1808
      View Details
    • Value Estimation
      $245,000
      3,375 SF

      2968 Curry Rd Ext

      STORE/OFFICE (MIXED USE) • 3,375 SF
      2968 Curry Rd Ext, Schenectady, NY 12303-2802
      View Details
    • Value Estimation
      $260,000
      9,680 SF

      2727 Hamburg St

      STORE/OFFICE (MIXED USE) • 9,680 SF
      2727 Hamburg St, Schenectady, NY 12303-3714
      View Details
    • Value Estimation
      $105,000
      1,254 SF

      1100 Highbridge Rd

      STORE/OFFICE (MIXED USE) • 1,254 SF
      1100 Highbridge Rd, Schenectady, NY 12303-2547
      View Details
    • Value Estimation
      $250,000
      600 SF

      426 Michigan Ave

      STORE/OFFICE (MIXED USE) • 600 SF
      426 Michigan Ave, Schenectady, NY 12303-1019
      View Details
    • Value Estimation
      $285,000
      6,840 SF

      2263 1st St

      STORE/OFFICE (MIXED USE) • 6,840 SF
      2263 1st St, Schenectady, NY 12303-2434
      View Details

    Similar Nearby for Sale

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      Mixed-use property with office space and apartment near downtown.
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      Mixed-Use Property with Bar/Restaurant

      Mixed-use property featuring four units, bar/restaurant, and potential for expansion.
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      Mixed-use property with commercial space and residential apartment.
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    • $325,000
      2,545 SF

      Schenectady Mixed-Use Commercial Property

      Mixed-use property with residential unit and commercial spaces in Schenectady.
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    • $399,900
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      Schenectady Mixed-Use Investment Opportunity

      Prime 0.4-acre mixed-use property in Schenectady.
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      Mixed-Use Property on High Traffic Avenue

      Prime mixed-use property with storefront and residential apartment.
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    Similar Nearby for Lease

    • $12 SF/Yr
      9,689 SF

      Hamburg Street Retail/Office Space

      Retail or office space available in neighborhood plaza on Hamburg Street.
      2727 Hamburg St, Rotterdam, NY 12303
      View Details
    • $9 SF/Yr
      10,812 SF

      Warehouse Space with Enclosed Storage

      Clean warehouse with enclosed storage and fenced yard near railway.
      138 Morris Rd, Schenectady, NY 12303
      View Details
    • $6 SF/Yr
      15,000 SF

      Schenectady Warehouse with Dock Doors

      15,000 SF warehouse featuring multiple dock height doors.
      198 Morris Rd, Schenectady, NY 12303
      View Details
    • $1,000 /Mo
      7,405 SF

      Commercial Space on Hamburg Street

      Versatile commercial space with excellent visibility and ample parking.
      2557 Hamburg St, Schenectady, NY 12303
      View Details
    • $15 SF/Yr
      92,440 SF

      Market 32 Anchored Shopping Center

      High-traffic Rotterdam retail space.
      1879 Altamont Ave, Schenectady, NY 12303
      View Details
    • Contact for pricing
      1,750 SF

      Built-Out Hair Salon Available

      Fully built-out hair salon with excellent visibility and ample parking.
      3770 Carman Rd, Schenectady, NY 12303
      View Details
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    3899 Carman Rd
    Schenectady, NY 12303
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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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