Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    Route 240, NY

    • Mining Land & Claims
    • 33.50 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-4487938
    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

    • Isalis / Jewelry Store / Gift Shop
    • Party City / Candy Store / Costume Store
    • Skunk Funk / Wholesaler / Clothing Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / Outdoor Clothing And Equipment Shop

    Property Details for Route

    Lot size
    33.50 lot acres
    Zone code
    07 - MIXED
    Property type
    Mining Land & Claims
    APN
    043689 29.004-2-3.2
    APU
    4368929004232

    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
    240
    County
    Cattaraugus
    State
    New York
    Longitude
    -78.6003
    Latitude
    42.3792
    CBSA code
    36460
    CBSA name
    OLEAN, 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
    0
    $0.00
    $68,800
    $0.00
    $68,800
    -
    $105,846
    $0.00
    $105,846

    Comparable in this City

    • Value Estimation by Request

      Rd

      MINING, MINERAL, QUARRIES
      Rd, 604, NY
      View Details
    • Value Estimation by Request

      Route

      MINING, MINERAL, QUARRIES
      Route, 380, NY
      View Details
    • Value Estimation by Request

      County Rd

      MINING, MINERAL, QUARRIES
      County Rd, 342, NY
      View Details
    • Value Estimation by Request
      0.01 Acres

      Town Of Aurelius, NY

      MINING, MINERAL, QUARRIES • 0.01 Acres
      Town Of Aurelius, NY
      View Details
    • Value Estimation by Request

      Town Of Sheridan, NY

      MINING, MINERAL, QUARRIES
      Town Of Sheridan, NY
      View Details
    • Value Estimation by Request

      County Rd

      MINING, MINERAL, QUARRIES
      County Rd, 310, NY
      View Details

    Similar Nearby for Sale

    • $1,200,000

      Route 9 Land Opportunity

      Land available on Route 9 with light industrial-commercial zoning.
      11 Us-9 & Liebich Ln, Clifton Park, NY
      View Details
    • Contact for pricing

      Industrially Zoned Land for Sale

      100+ acres of industrially zoned land between Newburgh and Albany.
      23 Nys, Cairo, NY
      View Details
    • Contact for pricing

      Akwesasne Industrial Land For Sale

      198.8 acres of industrial land with highway and seaway access.
      56 Chevrolet Rd, Akwesasne, NY
      View Details
    • $7,500,000

      Industrial Land with Flexible Zoning

      Land suitable for industrial development with utilities available.
      21 Hanson Dr, Montgomery, NY
      View Details
    • Contact for pricing

      Industrial Parcel Development Opportunity

      3.42-acre industrial parcel for development in Rockland County.
      555 Landmark Dr, Congers, NY
      View Details
    • $3,000,000

      Prime Interchange Development Opportunity

      17.8-acre parcel with I-90 frontage and high traffic exposure.
      9142 Ny-34, Weedsport, NY
      View Details

    Similar Nearby for Lease

    • $2,000 /Mo

      Cleared Land Ready for Storage

      Land suitable for truck or heavy equipment storage, move-in ready.
      2876 Ny-32, Saugerties, NY
      View Details
    • $3,600 /Mo

      Land For Rent

      Land available for rent with frontage on Long Island Avenue.
      97 County Rd, Farmingville, NY
      View Details
    • Contact for pricing

      Gated Lot Near Eisenhower Park

      Secure outdoor storage lot with access to major thoroughfares.
      1640 Hempstead-Bethpage Tpke, East Meadow, NY
      View Details
    • Contact for pricing

      Signalized Corner Land for Lease

      Corner land available for lease with high traffic counts.
      1 Trust Way, Middletown, NY
      View Details
    • Contact for pricing

      Commercial Land with Retail Access

      Land with traffic light access and retail cross-easement.
      3211 Co Rd, Canandaigua, NY
      View Details
    • Contact for pricing

      Prime Development Site on Route

      Development site near Ft. Drum with access to Route 11.
      26585 Valentine Dr, Evans Mills, NY
      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.
    Route
    240, NY
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.