Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    408 1st St Utica, NY 13501-2308

    • Automotive properties
    • 5,860 SF
    • 0.64 lot acres
    OFF-MARKET
    Value Estimations
    $280,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0576696
    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

    • Boats Unlimited / Outboard Motor Store / Boat Dealer
    • Transworld Imports & Exports / Importer

    Property Details for 408 1st St

    Year built
    1950
    Lot size
    0.64 lot acres
    Property size
    5,860 SF
    Property type
    Automotive properties
    APN
    301600 318.52-1-9
    APU
    3016003185219

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $280,000

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $445,000
      Current use
      WAREHOUSE, STORAGE
      $405,000
      Change: -9% Conversion: Easy
      COMMERCIAL (GENERAL)
      $365,000
      Change: -18% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Utica
    County
    Oneida
    State
    New York
    Longitude
    -75.225
    Latitude
    43.1011
    CBSA code
    46540
    CBSA name
    UTICA-ROME, 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
    $34,500
    $103,000
    $137,500
    -
    $80,232
    $239,535
    $319,767

    Comparable in this City

    • Value Estimation
      $275,000
      5,250 SF

      Catherine St

      VEHICLE SALES, RENTALS • 5,250 SF
      Catherine St, Utica, NY 13501
      View Details
    • Value Estimation
      $330,000
      11,544 SF

      1130 Saint Vincent St

      VEHICLE SALES, RENTALS • 11,544 SF
      1130 Saint Vincent St, Utica, NY 13501
      View Details
    • Value Estimation
      $420,000
      16,020 SF

      2104 Dwyer Ave

      VEHICLE SALES, RENTALS • 16,020 SF
      2104 Dwyer Ave, Utica, NY 13501-1118
      View Details
    • Value Estimation
      $260,000
      2,946 SF

      912 Bleecker St

      VEHICLE SALES, RENTALS • 2,946 SF
      912 Bleecker St, Utica, NY 13501-1510
      View Details
    • Value Estimation
      $125,000
      726 SF

      329 Ss St

      VEHICLE SALES, RENTALS • 726 SF
      329 Ss St, Utica, NY 13501-3735
      View Details
    • Value Estimation
      $265,000
      0.04 Acres

      517 Charlotte St

      PARKING LOT • 0.04 Acres
      517 Charlotte St, Utica, NY 13501
      View Details

    Similar Nearby for Sale

    • $139,900
      1,619 SF

      Commercial Building in Utica, NY

      Commercial building suitable for auto repair and autobody shop.
      403 Bacon St, Utica, NY 13501
      View Details
    • $650,000
      555 SF

      Utica Storefront: Prime Genesee St Location

      Vacant storefront, 555 sq ft, high traffic area.
      2639 Genesee St, Utica, NY 13501
      View Details
    • $299,000

      Turnkey Restaurant and Bar Opportunity

      Newly renovated restaurant and bar in a high-visibility location.
      709 Albany St, Utica, NY 13501
      View Details
    • $189,900
      2,919 SF

      Utica Retail/Office Opportunity

      Retail and office space available for sale in Utica, NY.
      515 Nichols St, Utica, NY 13501
      View Details
    • $249,900

      Downtown Utica Commercial Opportunity

      Commercial property in downtown Utica with four units and upgrades.
      23 Devereux St, Utica, NY 13501
      View Details
    • $395,000
      4,902 SF

      Mixed-Use Building with Remodeled Store

      Commercial residential building with store and apartments in Utica, NY.
      1420 Bleecker St, Utica, NY 13501
      View Details

    Similar Nearby for Lease

    • $2,900 /Mo
      2,434 SF

      Former Restaurant with Drive-Thru

      Downtown Utica restaurant space with drive-thru and parking.
      326 Genesee St, Utica, NY 13501
      View Details
    • $15 SF/Yr
      2,527 SF

      Downtown Utica Mixed-Use Building

      Renovated retail and office spaces in Downtown Utica.
      239 Genesee St, Utica, NY 13501
      View Details
    • Contact for pricing
      3,000 SF

      Utica Retail Space: Prime Location

      Free-standing retail building, 3,000 sq ft, 1.18 acres.
      515 Broad St, Utica, NY 13501
      View Details
    • $8 SF/Yr
      11,003 SF

      Flexible Space Available For Lease

      Up to 11,003 SF flexible space ideal for various uses.
      506 Nichols St, Utica, NY 13501
      View Details
    • Contact for pricing
      3,000 SF

      Corner Lot for Lease

      1.18+/- acre corner lot suitable for retail or office development.
      515 Broad St, Utica, NY 13501
      View Details
    • Contact for pricing
      4,600 SF

      Retail Space in Utica Center

      Retail space available in Hannaford anchored neighborhood center.
      1100-1154 Mohawk St, Utica, NY 13501
      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.
    408 1st St
    Utica, NY 13501-2308
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.