Add Listing
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

    446 State Rte 3rd 3 Plattsburgh, NY 12901-6519

    • Motels
    • 87,939 SF
    • 8.20 lot acres
    OFF-MARKET
    Last Sale
    Sep 29, 2023
    $10,410,000
    Value Estimations
    $10,355,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3885565
    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

    • Motels

    Property Details for 446 State Rte 3rd 3

    Year built
    1975
    Lot size
    8.20 lot acres
    Property size
    87,939 SF
    Zone code
    C
    Property type
    Motels
    APN
    094200 206.4-2-2.1
    APU
    942002064221

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $10,240,000
      ML approach
      $11,045,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $8,480,000
      AUTO REPAIR, GARAGE
      $7,655,000
      COMMERCIAL (GENERAL)
      $7,395,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Plattsburgh
    County
    Clinton
    State
    New York
    Longitude
    -73.4917
    Latitude
    44.698
    CBSA code
    38460
    CBSA name
    PLATTSBURGH, 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
    $3,141,200
    $2,208,800
    $5,350,000
    -
    $3,695,519
    $2,598,581
    $6,294,100

    Comparable in this City

    • Value Estimation
      $585,000
      19,483 SF

      528 State Rte 3rd 3

      MOTEL • 19,483 SF
      528 State Rte 3rd 3, Plattsburgh, NY 12901-6526
      View Details
    • Value Estimation by Request
      3,708 SF

      72 Spellman Rd

      MOTEL • 3,708 SF
      72 Spellman Rd, Plattsburgh, NY 12901-5325
      View Details
    • Value Estimation by Request
      11,686 SF

      7130 State Rte 9th 9

      MOTEL • 11,686 SF
      7130 State Rte 9th 9, Plattsburgh, NY 12901-7221
      View Details
    • Value Estimation by Request
      8,625 SF

      7673 State Rte 9th 9

      MOTEL • 8,625 SF
      7673 State Rte 9th 9, Plattsburgh, NY 12901-5385
      View Details
    • Value Estimation
      $605,000
      31,858 SF

      7141 State Rte 9th 9

      MOTEL • 31,858 SF
      7141 State Rte 9th 9, Plattsburgh, NY 12901-7220
      View Details
    • Value Estimation by Request
      11,738 SF

      528 State Rte 3rd 3

      MOTEL • 11,738 SF
      528 State Rte 3rd 3, Plattsburgh, NY 12901-6526
      View Details

    Similar Nearby for Sale

    • $449,000
      10.00 Acres

      Plattsburgh Development Site with Utilities

      10+/- acre development site with utilities near Plattsburgh center.
      132 Banker Rd, Plattsburgh, NY 12901
      View Details
    • $129,000
      32.00 Acres

      Industrial Land in Plattsburgh, NY

      32 acres of industrial land near Plattsburgh, New York.
      Rugar St, Plattsburgh, NY 12901
      View Details
    • $385,000
      1,621 SF

      Prime Plattsburgh Restaurant Opportunity

      Busy Route 9, High Traffic, Established Business
      7067 State Route 9, Plattsburgh, NY 12901
      View Details
    • Contact for pricing
      Pending

      Plattsburgh Land For Sale

      6+ acre residential land parcel in Plattsburgh, New York.
      Wallace Hill Rd, Plattsburgh, NY 12901
      View Details
    • Contact for pricing

      Plattsburgh Office Building For Sale

      16,494 SF office building on 0.10 AC available.
      2 Brinkerhoff St, Plattsburgh, NY 12901
      View Details
    • $1,150,000

      Vacant Land on Military Turnpike

      11.8 acre commercial land with approved development plans.
      1942 Military Tpke, Plattsburgh, NY 12901
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Complex Near Montreal

      Industrial complex near highway and airport, 60 miles from Montreal.
      32 Power Dam Way, Plattsburgh, NY 12901
      View Details
    • Contact for pricing

      Commercial Land Near SUNY Plattsburgh

      Commercial land for rent near SUNY Plattsburgh.
      356 Cornelia St, Plattsburgh, NY 12901
      View Details
    • Contact for pricing

      Retail Space Available For Rent

      Single tenant retail space available, approximately 4,722 square feet.
      81 Centre Dr, Plattsburgh, NY 12901
      View Details
    • $25 SF/Yr

      Former Restaurant Space on Route 3

      Former Friendly’s restaurant space for lease on Route 3.
      81 Centre Dr, Plattsburgh, NY 12901
      View Details
    • $700 /Mo
      448 SF

      Plattsburgh Office Space For Lease

      Office space for lease, close to shopping and highway.
      91 Hammond Ln, Plattsburgh, NY 12901
      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.
    446 State Rte 3rd 3
    Plattsburgh, NY 12901-6519
    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.
    Sign Up Successful!
    You now have access to more from Realmo!