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

    59 Gleneida Ave Carmel, NY 10512

    • Turn key restaurants
    • 1,432 SF
    • 0.06 lot acres
    OFF-MARKET
    Last Sale
    Jul 30, 2021
    $450,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3043704
    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

    • Turn key restaurants

    Property Details for 59 Gleneida Ave

    Year built
    1852
    Lot size
    0.06 lot acres
    Property size
    1,432 SF
    Zone code
    C
    Property type
    Turn key restaurants
    APN
    372000 44.18-1-9
    APU
    372000441819

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Carmel
    County
    Putnam
    State
    New York
    Longitude
    -73.6794
    Latitude
    41.4272
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA 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
    2020
    $16,215
    $55,300
    $140,700
    $196,000
    -
    $55,300
    $140,700
    $196,000

    Comparable in this City

    • Value Estimation
      $765,000
      2,738 SF

      110 Rte 311

      RESTAURANT • 2,738 SF
      110 Rte 311, Carmel, NY 10512-5214
      View Details
    • Value Estimation by Request
      3,522 SF

      374-376 Rte 52

      RESTAURANT • 3,522 SF
      374-376 Rte 52, Carmel, NY 10512
      View Details
    • Value Estimation
      $3,275,000
      3,210 SF

      47 Rte 311

      RESTAURANT • 3,210 SF
      47 Rte 311, Carmel, NY 10512-5206
      View Details
    • Value Estimation by Request
      3,225 SF

      474 Rte 52

      RESTAURANT • 3,225 SF
      474 Rte 52, Carmel, NY 10512-6056
      View Details
    • Value Estimation by Request
      1,061 SF

      166 Stoneleigh Ave

      RESTAURANT • 1,061 SF
      166 Stoneleigh Ave, Carmel, NY 10512-3986
      View Details
    • Value Estimation by Request
      2,100 SF

      1344 Rte 52

      RESTAURANT • 2,100 SF
      1344 Rte 52, Carmel, NY 10512-4552
      View Details

    Similar Nearby for Sale

    • $1,299,000
      5,758 SF

      High-Visibility Commercial Building For Sale

      Meticulously maintained 5,758 SF commercial building with high traffic exposure.
      1995 Route 6, Carmel, NY 10512
      View Details
    • $2,500,000

      Mixed-Use Property on Lake Gleneida

      Two-story mixed-use property with restaurant and apartment, lake views.
      1679 Route 6, Carmel, NY 10512
      View Details
    • $549,000

      Historic Carmel Restaurant & Bar

      Iconic restaurant/bar space in the heart of Carmel, NY.
      57 Gleneida Ave, Carmel, NY 10512
      View Details
    • $600,000
      5,731 SF

      High-Visibility Carmel Retail Space

      Prime Carmel location, high traffic, lake views.
      34 Gleneida Ave, Carmel, NY 10512
      View Details
    • $325,000
      0.21 Acres

      Route 52 Commercial Building

      High-visibility commercial property suitable for retail, office, or medical use.
      208 Route 52, Carmel, NY 10512
      View Details
    • $775,000
      4,853 SF

      Carmel Retail Buildings on Route 52

      Three commercial buildings with residential unit on up-and-coming Route 52.
      501-507 Route 52, Carmel, NY 10512
      View Details

    Similar Nearby for Lease

    • $24 SF/Yr

      Carmel Retail or Office Space

      Retail or office spaces with high visibility in Carmel, NY.
      133 Gleneida Ave, Carmel, NY 10512
      View Details
    • New
      $3,300 /Mo
      24,154 SF

      Corner Commercial Space Near Lake

      Turn-key retail/restaurant space with outdoor seating and private parking.
      105 Towners Ste 102 Rd, Carmel, NY 10512
      View Details
    • $24 SF/Yr
      4,498 SF

      Carmel Hamlet Retail Spaces

      Prime Carmel location, flexible space.
      133 Gleneida Ave, Carmel Hamlet, NY 10512
      View Details
    • $1,500 /Mo
      23,231 SF

      Renovated Retail Space on Route 52

      Newly renovated commercial space on high-traffic Route 52 in Carmel.
      435 Unit, Carmel, NY 10512
      View Details
    • $1,500 /Mo
      23,231 SF

      Renovated Commercial Space on Route

      Newly renovated commercial space on high-traffic Route 52.
      435 Unit, Carmel, NY 10512
      View Details
    • $2,500 /Mo

      Heated Garage Bays For Rent

      Multiple rental options for businesses, contractors, or trades.
      371 Shear Hl Rd Bay, Carmel, NY 10512
      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.
    59 Gleneida Ave
    Carmel, NY 10512
    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!