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    Property profile & analytics

    8438-8440 Seneca Tpke New Hartford, NY 13413

    • Manufacturing properties
    • 6,636 SF
    • 4.37 lot acres
    For Sale
    View listing
    $699,000
    Last Sale
    May 07, 2021
    $440,000
    Value Estimations
    Cap Rate Potential
    6.8%
    Manufacturing properties
    Location Intelligence
    Property ID
    US63-2286480
    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

    • Manufacturing properties

    Property Details for 8438-8440 Seneca Tpke

    Year built
    1972
    Lot size
    4.37 lot acres
    Property size
    6,636 SF
    Zone code
    05 - COMMERCIAL
    Property type
    Manufacturing properties
    APN
    304889 328.011-1-20.2
    APU
    3048893280111202

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $605,000
      ML approach
      $610,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $685,000
      6.5%
      $630,000
      7%
      $585,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $805,000
      AUTO REPAIR, GARAGE
      $795,000
      COMMERCIAL (GENERAL)
      $675,000
      RETAIL STORES
      $380,000
      WAREHOUSE, STORAGE
      $355,000
      MEDICAL BUILDING
      $320,000

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

    Location Insight

    • Map
    • Local Demand
    City
    New Hartford
    County
    Oneida
    State
    New York
    Longitude
    -75.3279
    Latitude
    43.0804
    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
    $94,000
    $136,000
    $230,000
    -
    $164,912
    $238,597
    $403,509

    Comparable in this City

    • Value Estimation
      $6,285,000
      131,760 SF

      4317 Middle Settlement Rd

      MANUFACTURING (LIGHT) • 131,760 SF
      4317 Middle Settlement Rd, New Hartford, NY 13413-5317
      View Details
    • Value Estimation
      $9,180,000
      194,300 SF

      8383 Seneca Tpke

      MANUFACTURING (LIGHT) • 194,300 SF
      8383 Seneca Tpke, New Hartford, NY 13413-4957
      View Details
    • Value Estimation
      $5,655,000
      118,048 SF

      525 French Rd

      MANUFACTURING (LIGHT) • 118,048 SF
      525 French Rd, New Hartford, NY 13413
      View Details
    • Value Estimation
      $2,090,000
      123,378 SF

      37 Campion Rd

      MANUFACTURING (LIGHT) • 123,378 SF
      37 Campion Rd, New Hartford, NY 13413-1601
      View Details
    • Value Estimation by Request
      7,960 SF

      9372 Elm St

      MANUFACTURING (LIGHT) • 7,960 SF
      9372 Elm St, New Hartford, NY 13413
      View Details
    • Value Estimation
      $2,830,000
      55,202 SF

      4355 Middle Settlement Rd

      MANUFACTURING (LIGHT) • 55,202 SF
      4355 Middle Settlement Rd, New Hartford, NY 13413-5317
      View Details

    Similar Nearby for Sale

    • $85,000
      1.77 Acres

      New Hartford Land For Sale

      1.77 acre land parcel available in New Hartford, NY.
      9046 Tibbits, New Hartford, NY 13413
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      Clinton Rd, New Hartford, NY 13413
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    • $59,000

      Vacant Land Near Retail

      1.49 acres of vacant land with road frontage.
      4647 Middle Settlement Rd, New Hartford, NY 13413
      View Details
    • $325,000
      4,200 SF

      Retail or Office Space Available

      Retail or office space in New Hartford with high visibility.
      3859 Oneida St, New Hartford, NY 13413
      View Details
    • Contact for pricing

      Land For Sale New Hartford

      Land available for sale at 4514 Commercial Dr, New Hartford, NY.
      4514 Commercial Dr, New Hartford, NY 13413
      View Details
    • $1,695,000

      Commercial Drive Redevelopment Site

      Redevelopment site in retail district near Price Chopper Plaza.
      4561 Commercial Dr, New Hartford, NY 13413
      View Details

    Similar Nearby for Lease

    • $8 SF/Yr
      2,750 SF

      Industrial Flex Space Available

      2,750 SF flex/industrial space for lease.
      2 Campion Rd, New Hartford, NY 13413
      View Details
    • Contact for pricing

      Commercial Land on Retail Corridor

      1.51 acre commercial land for rent on retail corridor.
      8521 Seneca Tpke, New Hartford, NY 13413
      View Details
    • $15 SF/Yr
      2,500 SF

      Freestanding Building Near Golf Club

      Retail space available in New Hartford, Route 12B & Seneca Turnpike.
      8636 Seneca Tpke, New Hartford, NY 13413
      View Details
    • $12 SF/Yr
      9,000 SF

      Medical Office Space Available

      9,000 SF medical space for lease.
      4290 Middle Settlement Rd, New Hartford, NY 13413
      View Details
    • $15 SF/Yr
      8,000 SF

      Retail Space Near Retail Corridor

      Retail space available in high-traffic, visible New Hartford location.
      8360 Seneca Tpke, New Hartford, NY 13413
      View Details
    • $20 SF/Yr
      6,000 SF

      Retail Space in New Hartford

      Retail space available in a busy New Hartford shopping center.
      8647 Clinton St, New Hartford, NY 13413
      View Details
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    8438-8440 Seneca Tpke
    New Hartford, NY 13413
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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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