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Property profile & analytics
FOR LEASE
Drive through restaurants
426 State St, Watertown, NY 13601
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US63-5288764
For Lease
$1,040,000
426 State St, Watertown, NY 13601
View Listing →
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1950
Total area
1,232 SF
Lot
0.28 ac (12,412 SF)
Zoning code
DC
APN
221800 12-03-220.100
UPID
US63-5288764
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
Current use
Occupant on record · Public records
-
Little Caesars Pizza Restaurant Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$860k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.04M
Owner & transaction history
454 State Street Ny LLC · 4 yrs held
454 State Street Ny LLC
since 2022
Last sale
$1.2M
3 recorded transactions
Zoning & alternative use
DC · Watertown, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Watertown submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Watertown 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
$855,000
ML approach
$860,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.04M
Range $936k – $1.14M · ±10% · vs last sale $1.23M (Mar 4 2022)
Last sale anchor
$1.23M
Mar 4 2022
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
$844 / 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
Property tax & assessments
Assessed value
$174,300
Assessed 2023
Previous assessed
$174,300
+0.0% YoY
Assessed land
$84,000
Assessed improvement
$90,300
Land market value
$101,205
Improvement market value
$108,795
Total market value
$210,000
Applied tax rate
221,800.0000
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
For Lease
Year built
1950
Buildings
1
Stories
1
Total area
1,232 SF
Lot
0.28 ac (12,412 SF)
Zoning code
DC
APN
221800 12-03-220.100
UPID
US63-5288764
Jurisdiction
JEFFERSON
Zoning & alternative use
DC · Watertown, NY
Zoning DC · permitted uses
DC · Watertown, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Watertown. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1950
Stories
1
Buildings
1
Lot
0.28 ac
Current owner
From public records · entity-resolved
454 State Street Ny LLC
Entity
Mailing address
130 N MDW ST, WATERTOWN, NY 13601-2440
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 4, 2022
$425,000
454 State Street Ny LLC
Tall Timber Holdings LLC
Warranty Deed
$245,000 · Miscellaneous Other
Mar 4, 2022
—
454 State Street Nny LLC
—
Deed
related
$245,000 · Watertown Local Dev C
Feb 26, 2021
$1,075,000
Tall Timber Holdings LLC
Route 57 Development LLC
Warranty Deed
$800,000 · Watertown Savings 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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