Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    392 Riceville Rd Gloversville, NY 12078
    Back to Search
    Property profile & analytics

    392 Riceville Rd, Gloversville, NY 12078

    View on Map
    • Investment properties
    • 1,610 SF
    • 0.70 lot acres
    Off-Market
    Last Sale Mar 14, 2022
    $115,000
    Property ID
    US63-2498639
    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
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Investment properties

    Property Details for 392 Riceville Rd

    Year built
    1987
    Lot size
    0.70 lot acres
    Zone code
    C
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    173001 103.16-1-7.2
    APU
    17300110316172

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Mar 14, 2022 $115,000 Alissa K Szumowski Levine Arthur Harris Est Executors Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Gloversville
    County
    Fulton
    State
    New York
    Longitude
    -74.2742
    Latitude
    43.1036
    CBSA code
    24100
    CBSA name
    GLOVERSVILLE, 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
    $27,000
    $53,000
    $80,000
    -
    $64,286
    $126,190
    $190,476

    Comparable in this City

    • Value Estimation by Request
      3,927 SF

      25 Fulton St

      OFFICE/RESIDENTIAL (MIXED USE)
      25 Fulton St, Gloversville, NY 12078-2924
      View Details
    • Value Estimation by Request
      4,657 SF

      55 Main St

      OFFICE/RESIDENTIAL (MIXED USE)
      55 Main St, Gloversville, NY 12078-3841
      View Details
    • Value Estimation by Request
      2,726 SF

      288 Main St

      OFFICE/RESIDENTIAL (MIXED USE)
      288 Main St, Gloversville, NY 12078-2135
      View Details
    • Value Estimation by Request
      6,930 SF

      114 Main St

      OFFICE/RESIDENTIAL (MIXED USE)
      114 Main St, Gloversville, NY 12078
      View Details
    • Value Estimation by Request
      17,280 SF

      58-60 Main St

      OFFICE/RESIDENTIAL (MIXED USE)
      58-60 Main St, Gloversville, NY 12078
      View Details
    • Value Estimation by Request
      545 SF

      15 1st Ave

      OFFICE/RESIDENTIAL (MIXED USE)
      15 1st Ave, Gloversville, NY 12078-3101
      View Details

    Similar Nearby for Sale

    • $79,900
      0.14 Acres

      Gloversville Mixed-Use Investment Opportunity

      Prime Gloversville location, 0.14-acre lot. High return potential.
      183 5Th Ave, Gloversville, NY 12078
      View Details
    • Contact for pricing
      6.30 Acres

      Gloversville Mixed-Use Opportunity

      6.3-acre Mixed-Use Property in Gloversville, NY
      101 Harrison St, Gloversville, NY 12078
      View Details
    • $349,999
      10,292 SF

      Historic Gloversville Building with Grant

      Multi-building property with secured grant in downtown Gloversville.
      12-24 North Main St, Gloversville, NY 12078
      View Details
    • $175,000
      1,320 SF

      Gloversville Mixed-Use Investment Opportunity

      Renovated apartments and corner store in downtown Gloversville.
      25 S Main St, Gloversville, NY 12078
      View Details
    • $249,000
      2,503 SF

      Mixed-Use Property in Gloversville, NY

      Mixed-use property with development potential in Gloversville, NY.
      95 E Fulton St, Gloversville, NY 12078
      View Details
    • $349,999

      Downtown Gloversville Redevelopment Opportunity

      Historic buildings with grant funding in Gloversville's Opportunity Zone.
      12-24 N Main St, Gloversville, NY 12078
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      15,000 SF

      Retail Space in Leased Center

      Retail space available in a fully leased shopping center.
      27-79 Arterial Plz, Gloversville, NY 12078
      View Details
    • Contact for pricing

      Commercial Outparcel For Rent

      0.5 acre outparcel available in Family Dollar-anchored center.
      30 Church St, Gloversville, NY 12078
      View Details
    • Contact for pricing
      300,000 SF

      Warehouse/Distribution Space for Lease

      31,500 SF warehouse/distribution space available for lease.
      204 County Rd 157, Gloversville, NY 12078
      View Details
    • Contact for pricing
      9,000 SF

      Retail Spaces Available for Rent

      Multiple retail spaces available for rent in Gloversville, NY.
      40 Church St, Gloversville, NY 12078
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    392 Riceville Rd
    Gloversville, NY 12078
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    392 Riceville Rd, Gloversville, NY, 12078
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!