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    Property profile & analytics

    7342 State Street Rd Auburn, NY 13021

    • Showrooms
    • 2,194 SF
    • 1.50 lot acres
    For Sale
    View listing
    $950,000
    Value Estimations
    Cap Rate Potential
    6.8%
    Showrooms
    Location Intelligence
    Property ID
    US63-5542300
    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

    • Classic Cones / Ice Cream Shop

    Property Details for 7342 State Street Rd

    Year built
    1955
    Lot size
    1.50 lot acres
    Property size
    2,194 SF
    Zone code
    01 - NOT ZONED
    Property type
    Showrooms
    APN
    056000 101.04-1-38
    APU
    5600010104138

    Description

    This exceptional turn-key business opportunity presents a well-established ice cream store and restaurant located at a prime corner lot in Auburn, NY. Built in 2015, the property boasts a spacious 2,194 square foot building situated on a generous 1.5-acre lot. Its strategic location at the four-way intersection of State Street Road and Turnpike Road ensures high visibility and convenient access for customers. The property features ample parking and a large covered patio, providing comfortable seating for patrons. A state-of-the-art industrial raised bed filtered septic system, capable of handling 2200 gallons per day, is already in place. The existing infrastructure offers significant potential for expansion, with an area specifically designed for the addition of a miniature golf course. This presents a unique opportunity to increase revenue streams and further enhance the property's appeal. The property's robust infrastructure and prime location make it an ideal investment for a savvy entrepreneur seeking a thriving business with significant growth potential. The sale includes the established business, building, and land. This is a rare opportunity to acquire a successful, established business with room to grow. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $275,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $315,000
      6.5%
      $290,000
      7%
      $270,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $212,000
      Market price range: $75.2k - $212k
      AI Estimate
      $242,000
      Market price range: $92.6k - $243k

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

    Location Insight

    • Map
    • Local Demand
    City
    Auburn
    County
    Cayuga
    State
    New York
    Longitude
    -76.5876
    Latitude
    42.9728
    CBSA code
    12180
    CBSA name
    AUBURN, NY MICROPOLITAN 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
    $1,965
    $25,800
    $149,200
    $175,000
    -
    $37,391
    $216,232
    $253,623

    Comparable in this City

    • Value Estimation
      $60,000
      1,683 SF

      131 Seymour St

      RETAIL STORES (PERSONAL SERVICES) • 1,683 SF
      131 Seymour St, Auburn, NY 13021-1818
      View Details
    • Value Estimation
      $470,000
      11,525 SF

      187 State St

      RETAIL STORES (PERSONAL SERVICES) • 11,525 SF
      187 State St, Auburn, NY 13021-1803
      View Details
    • Value Estimation
      $595,000
      14,360 SF

      314 Genesee St

      RETAIL STORES (PERSONAL SERVICES) • 14,360 SF
      314 Genesee St, Auburn, NY 13021-3102
      View Details
    • Value Estimation
      $620,000
      14,988 SF

      153 Grant Ave

      RETAIL STORES (PERSONAL SERVICES) • 14,988 SF
      153 Grant Ave, Auburn, NY 13021-1501
      View Details
    • Value Estimation
      $230,000
      4,000 SF

      251 Nn St

      RETAIL STORES (PERSONAL SERVICES) • 4,000 SF
      251 Nn St, Auburn, NY 13021-1131
      View Details
    • Value Estimation
      $370,000
      17,636 SF

      115 Genesee St

      FINANCIAL BUILDING • 17,636 SF
      115 Genesee St, Auburn, NY 13021-3610
      View Details

    Similar Nearby for Sale

    • $89,000
      4,992 SF

      Auburn Building Near Downtown

      Building in Auburn with retail and office space.
      147 State St, Auburn, NY 13021
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    • $399,000

      Spacious Retail Building on 1.2 Acres

      4,200 sq ft commercial building with ample parking.
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      Downtown Auburn Retail Opportunity

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    • $460,000
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      Leased Investment Opportunity in Auburn

      Fully leased retail, office, and warehouse on 1.8 acres.
      335-337 Genesee Street Rd, Auburn, NY 13021
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    • $549,000

      Downtown Auburn Mixed-Use Building

      Mixed-use building featuring apartments and storefronts in downtown Auburn.
      4 E Genesee St, Auburn, NY 13021
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    • $499,900
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      Auburn Commercial Redevelopment Opportunity

      Prime 2.1-acre lot, multiple buildings.
      92-96 Grant Ave, Auburn, NY 13021
      View Details

    Similar Nearby for Lease

    • $10,416 /Mo
      14,490 SF

      Freestanding Retail Space with Drive-Thru

      Corner retail space with drive-thru, private parking, and pylon signage.
      301 Genesee St, Auburn, NY 13021
      View Details
    • $1.30 SF/Yr
      1,043 SF

      Prime Corner Retail Space

      Corner retail space available for rent in Auburn, NY.
      150 Grant Ave, Auburn, NY 13021
      View Details
    • $15 SF/Yr

      Auburn Retail/Office Pad Sites

      Retail and office pad sites available in Auburn, NY.
      343 Genesee St, Auburn, NY 13021
      View Details
    • $1,400 /Mo

      Auburn Retail Space For Rent

      Retail space in Auburn's business district, suitable for salon.
      130 Genesee St, Auburn, NY 13021
      View Details
    • Contact for pricing
      245,666 SF

      Retail Space in Auburn Corridor

      Retail space with convenient access in a primary retail corridor.
      1628 Clark Street Rd, Auburn, NY 13021
      View Details
    • $12 SF/Yr
      39,135 SF

      Prime Auburn Office Space

      Historic 6-story building, 6,522 sq ft available.
      120 Genesee St, Auburn, NY 13021
      View Details
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    7342 State Street Rd
    Auburn, NY 13021
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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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