Commercial Land with Existing
For Sale
$499,900
Pending
7185 W Main Road, Leroy, NY 14482
CommercialSale, Le Roy, NY
Property Size2,028 SF
Lot Size16.10 Acres
Days on Market528
Property Features for 7185 W Main Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CON
Zoning description
Commercial
Parking
6
Lot features
Irregular Lot
Elementary school district
LeRoy
Middle school district
LeRoy
High school district
LeRoy
Directions
Starting from Route 36 to west on W. Main Road. Property is located on the north side of the road, just past Tops and diner.
Subdivision
LeRoy-183689
Standard status
Pending
APN
183689-024-000-0001-026-000
Size
2,028 SF
Lot size
16.10 Acres
Taxes and HOA fees
Tax Annual Amount
7365
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
3
Building materials
Frame
Roof type
Metal, Asphalt
Listing Agency:
RE/MAX Realty Group · RE/MAX International
(585) 248-0250
Listed By:
Deborah S. Campanella · License #30CA1055473
(585) 746-1920
Added: Apr 5, 2025
Changed: Aug 19
Last Checked: Sep 14 at 2:06PM
MLS# R1597830
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 16.1-acre commercial land offering includes a 2,028-square-foot frame duplex with a garage apartment, providing three tenant-occupied rentals. The existing improvements were built in 1900 and feature natural gas forced-air heat, public water, septic service, and metal and asphalt roofing. The property is offered with two parcels: a 3.5-acre parcel and an adjacent 12.6-acre parcel identified by TAX ID 18360-002-000.
Located at 7185 W Main Road in Le Roy, the property has two existing driveway cuts and frontage near established commercial uses. It sits adjacent to Tops Plaza, next to a diner, near Burger King, and across from Napa and Monroe Muffler. The property is zoned CON, with portions situated within village limits. Commercial, light industrial, and mixed-use development are identified in the property information.
Located at 7185 W Main Road in Le Roy, the property has two existing driveway cuts and frontage near established commercial uses. It sits adjacent to Tops Plaza, next to a diner, near Burger King, and across from Napa and Monroe Muffler. The property is zoned CON, with portions situated within village limits. Commercial, light industrial, and mixed-use development are identified in the property information.
Key Highlights
- 16.1 acres across a 3.5‑acre parcel and adjacent 12.6‑acre parcel
- 2,028‑square‑foot duplex with garage apartment and 3 rentals
- Two existing driveway cuts provide access from W Main Road
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$18,623
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$372,460
$372.5K
Cap Rate 7%
$266,043
$266.0K
Cap Rate 9%
$206,922
$206.9K
Market Conditions
NOI Build-Up for 2,028 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$28.0K $13.80/SF
− Vacancy
−$1.4K −$0.68/SF
EGI
$26.6K $13.12/SF
− OpEx
−$8.0K −$3.94/SF
NOI
$18.6K $9.18/SF
Area
Genesee County, NY
Vacancy
4.94%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$372,460
Cap Rate 7%
$266,043
Cap Rate 9%
$206,922
Alternative Uses
Best Use
Multifamily LT 5
$266.0K
$232.8K – $310.4K
NOI $18,623 @ 7.0% cap · market cap 3.73%
Second Best
Apartment 5plus
$232.0K
$203.0K – $270.7K
NOI $16,242 @ 7.0% cap · market cap 3.25%
Theoretical Best
Warehouse
$1.88M
$1.65M – $2.20M
NOI $131,767 @ 7.0% cap · market cap 26.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
Explore this area
Business Placement
Demographics for 14482, NY
8,365
Population
3,889
Households
2.2
Avg Household Size
43
Median Age
28%
College-Educated
96%
High-School Grad
60.9 sq mi
ZIP Area
137
Density / Sq Mi
$77,581
Median Household Income
$46,111
Median Earnings
$944
Median Rent
$159,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - Zoned CON with two driveway cuts, adjacent to Tops Plaza and near Burger King.
Where is this commercial land located?
The property is located at 7185 W Main Road Leroy, NY.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 16.1 acres across a 3.5‑acre parcel and adjacent 12.6‑acre parcel; 2,028‑square‑foot duplex with garage apartment and 3 rentals; Two existing driveway cuts provide access from W Main Road
