Turn key restaurants
Entity Owned
24-yr Hold
Absentee Owner
~
Est. High Equity
Entity Owned 
For Sale
1 / 13
$490,000
923 State Route 32, Highland Mills, NY 10930
View Listing →
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1990
Total area
2,464 SF
Lot
0.21 ac (9,216 SF)
Zoning code
CR
APN
335809 203-1-7.1
UPID
US63-1927848
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$305k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$280k
Owner & transaction history
since 2001
1 recorded transaction
Zoning & alternative use
CR · Highland Mills, NY
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 4 comparables with addresses
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$280k
Value range
$252k – $308k
±10% around blend
Estimated value / SF
$114 / SF
Confidence
Low
4 county-verified comps
Property data
75
Market benchmarks
33
Comparable evidence
40
Income certainty
100
$252k
blend $280k
$308k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
2,464 SF
Lot area
0.21 ac
Year built
1990
Stories
1
APN
335809 203-1-7.1
Assessed value
$135,300
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$854k
Weighted, 4 comps · low confidence
Evidence
4 found · 4 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
11.5 mi away · 2,616 SF
17.7 mi away · 2,552 SF
23.8 mi away · 2,100 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$280k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 58 sales
$308
-63%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $114/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
Not available
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 4 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
4.61%
Selected cap rate for this turn key restaurants
Derived from the Highland Mills market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 4.61%
9.0%
NOI (est.)
$23k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$490k
Move the market yield to see immediate price impact.
Value / SF
$199
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
4.11%4.61%5.11%
$20k
$495k
$441k
$398k
$23k
$550k
$490k
$442k
$25k
$605k
$539k
$487k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
4 found
Low confidence · county-verified
Closest comparable
$800k
9.9 mi · Jan 2026 · $286/SF
Property tax & assessments
Tax year 2021Property tax & assessments
Tax year 2021
Assessed value
$135,300
Assessed 2023
Previous assessed
$135,300
+0.0% YoY
Assessed land
$49,400
Assessed improvement
$85,900
Land market value
$168,610
Improvement market value
$293,190
Total market value
$461,800
Applied tax rate
332,401.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Turn key restaurants
Use group
RESTAURANT
Status
For Sale
Year built
1990
Heating
NONE
Cooling
CENTRAL
Stories
1
Total area
2,464 SF
Lot
0.21 ac (9,216 SF)
Zoning code
CR
APN
335809 203-1-7.1
UPID
US63-1927848
Jurisdiction
ORANGE
Zoning & alternative use
CR · Highland Mills, NYZoning CR · permitted uses
CR · Highland Mills, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Building & site characteristics
From public records
Year built
1990
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.21 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
CR
Jurisdiction
Highland Mills, NY
Recorded code
CR
Ownership Intelligence
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
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