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Property profile & analytics
OFF-MARKET
Estimated value
$2,060,000
Distribution centers
601 Stewart Dr, Cicero, NY 13039
Entity Owned
9-yr Hold
Free & Clear
Property ID
US63-4877377
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
2016
Total area
25,435 SF
Lot
5.33 ac (232,175 SF)
APN
312289 057.-02-29.3
UPID
US63-4877377
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Isalis (Bike/Boat/Book/etc) Store
-
Party City Party Supply Store (Bike/Boat/Book/etc) Store
-
Skunk Funk Big Box & Wholesale Store
-
Carl's Trading Co Hat Shop
-
Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.14M
Comparable Approach
Comparable
$2.17M
Blend (final)
Blend
$2.06M
Owner & transaction history
Approach Associates LLC · 9 yrs held
Approach Associates LLC
since 2016
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$2.7M
+79.8%
Office building
$2.7M
+78.1%
Auto repair, garage
$2.6M
+72.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Cicero submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cicero submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,310,000
6.5%
$2,135,000
7%
$1,980,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,515,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,725,000
Change: +80% · Conversion: Moderate
OFFICE BUILDING
$2,700,000
Change: +78% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,620,000
Change: +73% · Conversion: Easy
COMMERCIAL (GENERAL)
$2,320,000
Change: +53% · Conversion: Difficult
Blend value · Realmo final
$2.06M
Range $1.85M – $2.27M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$81 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Assessed value
$1,625,000
Assessed 2023
Previous assessed
$1,625,000
+0.0% YoY
Assessed land
$148,800
Assessed improvement
$1,476,200
Land market value
$206,667
Improvement market value
$2,050,277
Total market value
$2,256,944
Applied tax rate
312,403.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
2016
Heating
NONE
Cooling
CENTRAL
Buildings
1
Stories
1
Total area
25,435 SF
Lot
5.33 ac (232,175 SF)
APN
312289 057.-02-29.3
UPID
US63-4877377
Jurisdiction
ONONDAGA
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$1.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.7M
OFFICE BUILDING
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$2.3M
WAREHOUSE, STORAGE Current
NEIGHBORHOOD: SHOPPING CENTER
OFFICE BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2016
Heating
NONE
Cooling
Yes
Stories
1
Buildings
1
Lot
5.33 ac
Current owner
From public records · entity-resolved
Approach Associates LLC
Entity
Free & Clear · 9 yrs held
Mailing address
499 COL EILEEN COLLINS BLVD, SYRACUSE, NY 13212-3930
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 3, 2016
$160,000
Approach Associates LLC
County Of Onondaga
Deed
—
Jul 11, 2013
—
Hancock Park Development
County Of Onondaga
Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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