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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    51 Leonard St Gansevoort, NY 12831-2046

    • Retail space
    • 1.96 lot acres
    OFF-MARKET
    Last Sale
    Mar 17, 2021
    $1,682,700
    Value Estimations
    $1,760,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5412793
    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

    • Town Of Northumberland Highway Department / Paving Contractor
    • FedEx OnSite / Mailing Service
    • Dollar General / Dollar Store / Beauty Supply Store
    • Western Union / Money Transfer Service

    Property Details for 51 Leonard St

    Lot size
    1.96 lot acres
    Zone code
    05 - COMMERCIAL
    Property type
    Retail space
    APN
    414600 103.8-1-47
    APU
    4146001038147

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,830,000
      ML approach
      $1,855,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Gansevoort
    County
    Saratoga
    State
    New York
    Longitude
    -73.647
    Latitude
    43.2022
    CBSA code
    10580
    CBSA name
    ALBANY-SCHENECTADY-TROY, 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
    $95,400
    $654,600
    $750,000
    -
    $151,429
    $1,039,047
    $1,190,476

    Comparable in this City

    • Value Estimation
      $1,420,000
      13,177 SF

      653 Saratoga Rd

      RETAIL STORES (PERSONAL SERVICES) • 13,177 SF
      653 Saratoga Rd, Gansevoort, NY 12831-1692
      View Details
    • Value Estimation by Request
      5,229 SF

      625 Saratoga Rd

      FINANCIAL BUILDING • 5,229 SF
      625 Saratoga Rd, Gansevoort, NY 12831
      View Details
    • Value Estimation
      $19,515,000
      219,498 SF

      665 Saratoga Rd

      SHOW ROOM, WAREHOUSE • 219,498 SF
      665 Saratoga Rd, Gansevoort, NY 12831-1599
      View Details
    • Value Estimation by Request
      2,454 SF

      650 Saratoga Rd

      FINANCIAL BUILDING • 2,454 SF
      650 Saratoga Rd, Wilton, NY 12831
      View Details
    • Value Estimation
      $505,000
      2,350 SF

      647 Saratoga Rd

      SHOW ROOM, WAREHOUSE • 2,350 SF
      647 Saratoga Rd, Wilton, NY 12831
      View Details
    • Value Estimation
      $4,350,000
      20,838 SF

      23 Northern Pnes Rd

      SHOW ROOM, WAREHOUSE • 20,838 SF
      23 Northern Pnes Rd, Gansevoort, NY 12831-1275
      View Details

    Similar Nearby for Sale

    • $650,000
      1,500 SF

      Freestanding Building on Route 9

      Freestanding building suitable for retail, services, or office use.
      1288 Saratoga Rd, Gansevoort, NY 12831
      View Details
    • $495,000
      1,500 SF

      Gansevoort Retail Building - $495K

      Prime QSR/Fast Food Location, Vacant, 1500 SF
      1288 Saratoga Rd, Gansevoort, NY 12831
      View Details
    • $125,000
      33.32 Acres

      Gansevoort Land: 33 Acres, $125K

      Prime NY development land, Route 9 frontage.
      864 Rte 9, Gansevoort, NY 12831
      View Details
    • $950,000
      2.56 Acres

      Gansevoort Mobile Home Park Investment

      17 Units, 11.52% Cap Rate, High Occupancy
      765 Saratoga Rd, Gansevoort, NY 12831
      View Details
    • $3,750,000
      64.01 Acres

      Gansevoort, NY Commercial Land - 64 Acres

      Prime 64-acre commercial land, ideal for logistics.
      0 Ballard Rd, Gansevoort, NY 12831
      View Details
    • $175,000

      Commercial Land Available

      Unimproved commercial land with utilities available.
      L11 Hilltop Dr, Wilton, NY 12831
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      248,000 SF

      Upstate NY Logistics Development Site

      Large logistics development site with over 1M SF planned.
      197 Ballard Rd, Gansevoort, NY 12831
      View Details
    • $16 SF/Yr
      9,835 SF

      Stand Alone Office Building

      Office building for lease with parking in McGregor Office Park.
      5 Mtn Ledge Dr, Wilton, NY 12831
      View Details
    • $8 SF/Yr
      14,040 SF

      Wilton Commercial Flex/Warehouse Space

      14,040 SF flex/warehouse space with offices in Wilton, NY.
      891 Saratoga Rd, Wilton, NY 12831
      View Details
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    51 Leonard St
    Gansevoort, NY 12831-2046
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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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