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    43550 State Hwy 37 Redwood, NY 13679

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    43550 State Hwy 37 Redwood, NY 13679

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    • Automotive properties
    • 8,466 SF
    • 1.27 lot acres
    For Sale
    $139,900
    View Listing →
    Versatile Commercial Property on Highway For Sale
    $139,900
    8,466 SF

    Versatile Commercial Property on Highway

    High-visibility commercial property with income potential in Redwood, NY.

    43550 State Highway 37, Redwood, NY 13679
    View Listing
    Property ID
    US63-2484392
    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

    • Automotive properties

    Property Details for 43550 State Hwy 37

    Year built
    1920
    Lot size
    1.27 lot acres
    Property size
    8,466 SF
    Property type
    Automotive properties
    APN
    222289 15.06-2-7
    APU
    222289150627

    Description

    This expansive 8,466 square foot commercial building presents a unique investment opportunity in Redwood, NY. Situated on a 1.49-acre lot along a busy state highway, this property boasts a rich history, having previously served as a car dealership, garage, deli, and store. Currently operating as a profitable storage facility for boats and vehicles, it offers immediate income potential. The building's layout is highly adaptable. The main floor comprises approximately 80 x 44 feet of storage space with 11-foot ceilings. A former deli area (24 x 44 feet) offers additional space for various uses. The storefront features original tin ceilings (50 x 44 feet). Upstairs, a large, versatile space (45 x 100 feet) with 12-foot ceilings (plus a 4-5 foot peak) overlooks Butterfield Lake, ideal for events or expansion. Public water, electric, and sewer are available, though not currently utilized. The roof has undergone patching but requires further attention

    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
    Redwood
    County
    Jefferson
    State
    New York
    Longitude
    -75.7997
    Latitude
    44.2982
    CBSA code
    48060
    CBSA name
    WATERTOWN-FORT DRUM, 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
    $18,000
    $22,000
    $40,000
    -
    $25,714
    $31,429
    $57,143

    Comparable in this City

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      43523 State Rte 37

      BAR, TAVERN • 1,800 SF
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      864 SF

      43505 State Rte 37

      DRIVE-THRU RESTAURANT, FAST FOOD • 864 SF
      43505 State Rte 37, Redwood, NY 13679
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    • Value Estimation by Request
      0.23 Acres

      43669 State Rte 37

      RETAIL STORES (PERSONAL SERVICES) • 0.23 Acres
      43669 State Rte 37, Redwood, NY 13679
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    • Value Estimation by Request
      1,410 SF

      42575 State Rte 37

      NURSERY, GREENHOUSE, FLORIST • 1,410 SF
      42575 State Rte 37, Redwood, NY 13679-3150
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      9,864 SF

      43488 State Rte 37

      BAR, TAVERN • 9,864 SF
      43488 State Rte 37, Redwood, NY 13679
      View Details

    Similar Nearby for Sale

    • $139,900
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      Versatile Commercial Property on Highway

      High-visibility commercial property with income potential in Redwood, NY.
      43550 State Hwy 37, Redwood, NY 13679
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    Redwood, NY 13679
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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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