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

    7985 Riv Rd Rome, NY 13440-6928

    • Auto shops
    • 3,290 SF
    • 0.38 lot acres
    OFF-MARKET
    Last Sale
    Jul 02, 2024
    $152,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2999089
    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

    • The Magic Zone / Auto Repair Shop

    Property Details for 7985 Riv Rd

    Year built
    1953
    Lot size
    0.38 lot acres
    Property size
    3,290 SF
    Zone code
    1
    Property type
    Auto shops
    APN
    303600 260.000-1-13
    APU
    303600260000113

    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
    Rome
    County
    Oneida
    State
    New York
    Longitude
    -75.36
    Latitude
    43.1974
    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
    $20,000
    $56,400
    $76,400
    -
    $35,088
    $98,947
    $134,035

    Comparable in this City

    • Value Estimation by Request
      7,200 SF

      6718 Martin St

      AUTO REPAIR, GARAGE • 7,200 SF
      6718 Martin St, Rome, NY 13440-7107
      View Details
    • Value Estimation by Request
      2,023 SF

      619 Dominick St

      AUTO REPAIR, GARAGE • 2,023 SF
      619 Dominick St, Rome, NY 13440-3923
      View Details
    • Value Estimation by Request
      2,002 SF

      103 Wright St

      AUTO REPAIR, GARAGE • 2,002 SF
      103 Wright St, Rome, NY 13440
      View Details
    • Value Estimation by Request
      3,920 SF

      205 Erie E Blvd

      AUTO REPAIR, GARAGE • 3,920 SF
      205 Erie E Blvd, Rome, NY 13440-6822
      View Details
    • Value Estimation by Request
      3,159 SF

      1151 Erie W Blvd

      AUTO REPAIR, GARAGE • 3,159 SF
      1151 Erie W Blvd, Rome, NY 13440-2915
      View Details
    • Value Estimation by Request
      1,644 SF

      6586 Martin St

      AUTO REPAIR, GARAGE • 1,644 SF
      6586 Martin St, Rome, NY 13440-7020
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,361 SF

      Auto Shop with Vehicle Lift

      Four-bay auto shop with lift for sale in Rome.
      607 S James St, Rome, NY 13440
      View Details
    • Contact for pricing
      8,064 SF

      Former Auto Glass Building

      8,064 SF building on a highly visible corner.
      301 Erie Blvd W, Rome, NY 13440
      View Details
    • Contact for pricing

      Restaurant, Bar, Showroom For Sale

      Former restaurant, bar, and showroom available for purchase.
      152 Erie Blvd East, Rome, NY 13440
      View Details
    • Contact for pricing
      5,765 SF

      Restaurant, Bar, Office, Showroom Space

      Former restaurant, bar, office, and showroom available for sale.
      100 Depeyster St, Rome, NY 13440
      View Details
    • Contact for pricing
      2,000 SF

      New Starbucks with Long-Term Lease

      New construction Starbucks with corporate lease and rental increases.
      1790-1794 Black River Blvd, Rome, NY 13440
      View Details

    Similar Nearby for Lease

    • $2,700 /Mo
      1,700 SF

      Renovated Garage on Route 26

      Fully renovated 2-bay commercial garage with office space for lease.
      9145 Rte 26, Rome, NY 13440
      View Details
    • $2.00 SF/Yr
      744 SF

      Renovated Commercial Building with Options

      Flexible leasing options: office, storefront, and warehouse spaces available.
      310 S James St, Rome, NY 13440
      View Details
    • $549,900
      2,574 SF

      Spacious Commercial Land with Structures

      19.73-acre commercial property with store, greenhouse, and pole barn.
      8550 Turin Rd, Lee, NY 13440
      View Details
    • $8 SF/Yr
      7,534 SF

      Industrial Space Near Erie Canal

      Industrial space in Rome, NY, near Erie Canal Harbor.
      750 Railroad St, Rome, NY 13440
      View Details
    • Contact for pricing
      6,000 SF

      Retail Space in Rome, NY

      6,000 SF retail space available for rent.
      1715 Black River Blvd N, Rome, NY 13440
      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.
    7985 Riv Rd
    Rome, NY 13440-6928
    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!