Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    5364 State Route 23 Windham, NY 12496
    Back to Search
    Property profile & analytics

    5364 State Route 23, Windham, NY 12496

    View on Map
    • Commercial land
    For Sale
    $1,800,000
    View Listing →
    Windham Mixed-Use Development Opportunity For Sale
    $1,800,000

    Windham Mixed-Use Development Opportunity

    Land with foundation for mixed-use commercial/residential development.

    5364 State Route 23, Windham, NY 12496
    View Listing
    Property ID
    US63-2084295
    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

    • Commercial land

    Property Details for 5364 State Route 23

    Year built
    2025
    Property type
    Commercial land
    Property subtype
    Mixed-use properties

    Description

    Foundation is already in the ground and the basement ceilings are poured at 9 feet tall. Foundation is 40x60. Building can be 3 floors high. Mixed Use for Commerical/Residential. Examples town is looking are - Medical Facility, Restaurant, Retail, Etc. Buyers will have due diligence period and meet with the Zoning Board for approvals. Entrance is off Mill St. - road already exists and is paved. Exit is paved and has a one way exit already out to Main St. Public Utilities are available for easy connection. Foundation has a drop area which is located in the back of the foundation for deliveries. Public Parking is located on Main St. and HUGE Public parking lot directly across the street as well. Additionally blue house/office located in back can be bought separately for $280k.

    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
    Windham
    County
    Greene
    State
    New York
    Longitude
    -74.252341
    Latitude
    42.307547

    Comparable in this City

    • $1,350,000
      11.74 Acres

      Windham Land Development Opportunity

      Prime 12-acre development opportunity near Windham Mountain Club slopes.
      South St, Windham, NY 12496
      View Details
    • $169,900
      6.17 Acres

      Land Near Windham Ski Resort

      Residential land for sale near Windham, New York.
      Boulder Brk Lot 8 Rd, Windham, NY 12496
      View Details
    • $213,500
      6.10 Acres

      Windham Land with Unrivaled Views

      6.1-acre parcel with breathtaking views, close to Windham amenities.
      Larsen Dr, Windham, NY 12496
      View Details
    • Contact for pricing

      14.9 Acres Wooded Land Parcels

      Two wooded parcels totaling 14.9 acres in Windham, NY.
      L17 Birchwood Dr, Windham, NY 12496
      View Details
    • $325,000
      1.20 Acres

      Vacant Land in Windham, NY

      1.2 acre parcel perfect for building a primary residence.
      L37 Panarama Ln, Windham, NY 12496
      View Details
    • $99,000
      Pending

      Land Ready to Build

      7.06 acres in Windham, NY, with mountain views.
      Mitchell Hollow Rd, Windham, NY 12496
      View Details

    Similar Nearby for Sale

    • $1,350,000
      11.74 Acres

      Windham Land Development Opportunity

      Prime 12-acre development opportunity near Windham Mountain Club slopes.
      South St, Windham, NY 12496
      View Details
    • Contact for pricing

      58.8 Acres in Windham, NY

      58.8-acre hemlock forest near Windham Mountain and state land.
      523 Campbell Rd, Windham, NY 12496
      View Details
    • Contact for pricing

      Five Acres on High Peak

      Five acres of land available in Windham, New York.
      174 High Peak Rd, Windham, NY 12496
      View Details
    • $569,900
      40.07 Acres

      Land Near Windham Ski Resort

      40-acre land parcel near Windham Ski Resort.
      Boulder Brk Lot 33-38 Rd, Windham, NY 12496
      View Details
    • $89,000
      3.70 Acres

      Land Near Windham Mountain Resort

      3.7-acre parcel near Windham Mountain Resort, ideal for custom home.
      Larsen Dr, Windham, NY 12496
      View Details
    • $335,000
      15.67 Acres

      Approved Residential Lot with Views

      Shovel-ready 15.67 acre lot near Windham Mountain.
      10 Galway Rd, Windham, NY 12496
      View Details
    View Listing
    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.
    5364 State Route 23
    Windham, NY 12496
    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

    Thank You for Inquiry
    5364 State Route 23, Windham, NY, 12496
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!