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    601 Harry L Dr Johnson City, NY 13790

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    601 Harry L Dr Johnson City, NY 13790

    View on Map
    • Super regional malls
    • 554,762 SF
    • 45.44 lot acres
    Off-Market
    Last Sale Apr 20, 2023
    Property ID
    US63-3747220
    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
    $2,645,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Moonwalker Arcade / Arcade & Gaming Center / (Bike/Boat/Book/etc) Store
    • Bath & Body Works / Cosmetic Store
    • Fine Arts Society of the Southern Tier / Association / Organization
    • Zumiez / Clothing Store / Men'S Clothing Store
    • Journeys / Clothing & Fashion Store / (Bike/Boat/Book/etc) Store

    Property Details for 601 Harry L Dr

    Year built
    1975
    Lot size
    45.44 lot acres
    Property size
    554,762 SF
    Zone code
    USF
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    034603 127.77-2-36
    APU
    3460312777236

    Description

    Oakdale Commons, a premier mixed-use development in Binghamton, NY, offers exceptional creative office space within a thriving retail environment. This 857,892 square foot, single-story complex sits on a substantial 69.5-acre lot, strategically positioned at the intersection of Routes 81 and 17, boasting high traffic volume. The property underwent extensive renovations in 2023, creating a dynamic "shop, work, play, eat, wellness and live" destination. Tenancy is multiple, with spaces available from a minimum of 1,000 square feet up to a contiguous 30,000 square feet. The property features ample parking with 1,000+ spaces and provides 110-220 3-phase power. Its General Commercial zoning allows for diverse uses. Oakdale Commons benefits from its proximity to top-performing retailers, including a flagship Wegman's, the largest Dick's House of Sport in the US, BJ's Wholesale Club, Dave & Buster's, and Lourdes Wellness. Property taxes are $0.79 per square foot. This exceptional location and recent renovations make Oakdale Commons an unparalleled opportunity for businesses seeking a vibrant and convenient workspace. The property's high visibility and strong anchor tenants ensure a robust and attractive environment for any business.

    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
    Johnson City
    County
    Broome
    State
    New York
    Longitude
    -75.9742
    Latitude
    42.1286
    CBSA code
    13780
    CBSA name
    BINGHAMTON, 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
    $180,900
    $221,100
    $402,000
    -
    $5,228,324
    $6,390,173
    $11,618,497

    Comparable in this City

    • Value Estimation
      $850,000
      94,000 SF

      635 Harry L Dr

      REGIONAL SHOPPING CENTER, MALL • 94,000 SF
      635 Harry L Dr, Johnson City, NY 13790
      View Details
    • Value Estimation
      $960,000
      150,000 SF

      501 Reynolds Rd

      REGIONAL SHOPPING CENTER, MALL • 150,000 SF
      501 Reynolds Rd, Johnson City, NY 13790-1311
      View Details
    • Value Estimation
      $935,000
      139,500 SF

      629 Harry L Dr

      REGIONAL SHOPPING CENTER, MALL • 139,500 SF
      629 Harry L Dr, Johnson City, NY 13790
      View Details
    • Value Estimation by Request
      15,650 SF

      365 Harry L Dr

      SHOPPING CENTER, STRIP CENTER • 15,650 SF
      365 Harry L Dr, Johnson City, NY 13790-1471
      View Details
    • Value Estimation
      $520,000
      26,983 SF

      47 Riverside Dr

      SHOPPING CENTER, STRIP CENTER • 26,983 SF
      47 Riverside Dr, Johnson City, NY 13790-2734
      View Details
    • Value Estimation
      $505,000
      36,258 SF

      800 Vly Plz

      SHOPPING CENTER, STRIP CENTER • 36,258 SF
      800 Vly Plz, Johnson City, NY 13790-1046
      View Details

    Similar Nearby for Sale

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      Main Street Mixed-Use Opportunity

      Mixed-use property near UHS Wilson Medical Center.
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    • $250,000

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      Mixed-use building in downtown Johnson City with retail/office/residential potential.
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      Mixed-Use Building Near University

      Mixed-use property with redevelopment potential near Binghamton University.
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      9,404 SF

      High-Visibility Commercial Building Near Oakdale

      Versatile 9,404 SF commercial building near major businesses.
      201 Oakdale Rd, Johnson City, NY 13790
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    • $199,900

      Johnson City Multifamily Investment Opportunity

      Four-unit property with value-add potential in Johnson City.
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      Multifamily Investment in Johnson City

      7,452 SF multifamily property with 13 units in Johnson City.
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    Similar Nearby for Lease

    • Contact for pricing
      30,000 SF

      Super Regional Mixed-Use Center

      High-performing mixed-use center in Binghamton, NY MSA.
      601-635 Harry L Dr, Johnson City, NY 13790
      View Details
    • $2,000 /Mo

      Downtown Johnson City Retail Space

      Street-level commercial space in downtown Johnson City, ready for build-out.
      290 Main Street Ter, Johnson City, NY 13790
      View Details
    • Contact for pricing

      Retail Space on Main Street

      Retail space available on a signalized intersection with high traffic.
      778 Main St, Johnson City, NY 13790
      View Details
    • $10 SF/Yr
      12,500 SF

      Johnson City Office Space Available

      12,500 SF office suite in a professional building.
      711 Innovation Way, Johnson City, NY 13790
      View Details
    • $11 SF/Yr
      2,250 SF

      Move-In Ready Office/Flex Space

      2,250 SF office/flex space, renovated in 2024, easy access.
      117 Oakdale Rd, Johnson City, NY 13790
      View Details
    • Contact for pricing

      New Development Office Space Available

      Finished ground floor office space in new multi-family development.
      333 Grand Ave, Johnson City, NY 13790
      View Details
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    Johnson City, NY 13790
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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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