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    Property profile & analytics

    607 James St, Unit 9 Rome, NY 13440-6632

    • Gas stations
    • 3,361 SF
    • 0.20 lot acres
    OFF-MARKET
    Value Estimations
    $285,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3059223
    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

    • AP Auto Repair / Auto Repair Shop

    Property Details for 607 James St

    Year built
    1955
    Lot size
    0.20 lot acres
    Property size
    3,361 SF
    Zone code
    W
    Property type
    Gas stations
    APN
    301301 242.073-0001-024
    APU
    3013012420730001024

    Description

    This 3,985 square foot industrial property, located at 607 S James St, Rome, NY 13440, is a fully operational, turnkey automotive repair and sales facility. The single-story building, constructed in 1955, sits on a 0.2-acre lot and features four bays, including three front bays equipped with lifts and a newer rear bay accommodating larger trucks with a 12-foot overhead door. Internal access between the front and rear bays is provided by a fifth overhead door and an entry door. A spacious office area and partial basement storage are also included. The property includes 20 parking spaces and all public utilities (water, sewer, and gas) are connected. Environmental documentation is available. This is a sale-leaseback opportunity, allowing for immediate income generation or the commencement of operations by a new owner. The property is zoned for commercial repair and sales and offers a significant price reduction for a quick sale. The asking price is $295,000, representing a price per square foot of $74.03. This represents a significant opportunity for an owner-user or investor seeking a profitable venture in a well-established location. The property's long history in the community provides a strong foundation for continued success.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $285,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $216,000
      Market price range: $216k - $506k

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

    Location Insight

    • Map
    • Local Demand
    City
    Rome
    County
    Oneida
    State
    New York
    Longitude
    -75.4638
    Latitude
    43.2045
    CBSA code
    46540
    CBSA name
    UTICA-ROME, 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
    $8,200
    $71,800
    $80,000
    -
    $18,070
    $158,219
    $176,289

    Comparable in this City

    • Value Estimation
      $290,000
      1,551 SF

      511 Clinton St

      GAS STATION • 1,551 SF
      511 Clinton St, Rome, NY 13440
      View Details
    • Value Estimation
      $420,000
      4,232 SF

      216 Erie E Blvd

      SERVICE STATION WITH FOOD MART • 4,232 SF
      216 Erie E Blvd, Rome, NY 13440-6814
      View Details
    • Value Estimation
      $360,000
      3,600 SF

      600 Erie W Blvd

      SERVICE STATION WITH FOOD MART • 3,600 SF
      600 Erie W Blvd, Rome, NY 13440-3912
      View Details
    • Value Estimation
      $285,000
      1,590 SF

      400 James St, Unit 2

      SERVICE STATION WITH FOOD MART • 1,590 SF
      400 James St, Rome, NY 13440-5120
      View Details
    • Value Estimation
      $340,000
      3,950 SF

      1402 Dominick St

      SERVICE STATION WITH FOOD MART • 3,950 SF
      1402 Dominick St, Rome, NY 13440
      View Details
    • Value Estimation
      $260,000
      0.64 Acres

      8727 Turin Rd

      GAS STATION • 0.64 Acres
      8727 Turin Rd, Rome, NY 13440-7401
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

    • Contact for pricing
      30,188 SF

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      Office space with parking area available for immediate sublease.
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      View Details
    • Contact for pricing
      7,239 SF

      Prime Rome Retail Space

      7,239 SF Strip Center, 5,677 SF Vacant
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      View Details
    • $1.00 SF/Yr
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      Renovated Commercial Building in Rome

      Flexible leasing options: office, storefront, and warehouse space available.
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      View Details
    • Contact for pricing
      6,850 SF

      Retail Space in Rome, NY

      Retail space available in grocery-anchored shopping center.
      205 Erie Blvd W, Rome, NY 13440
      View Details
    • $13 SF/Yr
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      Retail/Office Space in Rome, NY

      Vanilla box retail/office space with patio in Rome, NY.
      242 W Dominick St, Rome, NY 13440
      View Details
    • New
      $435,000
      3,536 SF

      Prime Commercial Property on Floyd Avenue

      Well-maintained commercial property in Rome, NY, with high visibility.
      1107-1109 Floyd Ave, Rome, NY 13440
      View Details
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    Rome, NY 13440-6632
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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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