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    The Largest CRE Database in the US with Over 1 Million Listings

    211 Ridge Rd Rochester, NY 14615

    Sponsored
    For Sale
    $650,000

    Prime retail storefront, Kodak Theater views, high traffic.

    Property size:
    954 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    353
    This exceptional 954-square-foot office building at 211 W Ridge Rd, Rochester, NY, presents a unique investment opportunity. Boasting a prime location directly across from the Kodak Theater & Performing Arts Center, this property benefits from significant foot and vehicular traffic, with over 20,000 cars passing daily. Its highly visible corner location ensures maximum exposure. Convenient access to major roadways, including Route 104, I-590, and I-390, enhances its accessibility. The building underwent a complete renovation in 2023, encompassing a new roof, updated framing, a substantial 400-amp electrical service upgrade, new plumbing, and modern storefront glass. The C-3 zoning allows for diverse uses, including general retail, cannabis dispensaries/micro-consumption lounges (within the designated Green Zone), liquor stores, restaurants, bars, bakeries, and more. On-site parking accommodates eight vehicles, with additional parking available on the adjacent Palm Street and potentially rentable spaces at the neighboring Kodak lot. The property sits on a 0.12-acre lot. A significant advantage for potential buyers is the seller's willingness to hold a first position note, facilitating a smoother acquisition process. This property is priced at $650,000 and offers a compelling blend of location, recent renovations, and flexible zoning.

    Property Features for 211 Ridge Rd

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    954 SF
    Lot Size
    5,227 SF

    Building Details

    Year Built
    1950

    We can help!

    Listing Contact
    Evan Schaefer

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    3 Latino Restaurant ... Puerto Rican Restaurant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.63368
    Latitude
    43.19749

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    FAQs

    What type of property is this?
    Office Property Space - Prime retail storefront, Kodak Theater views, high traffic.
    Where is this office property space located?
    The property is located at 211 Ridge Rd Rochester, NY.
    What is the asking price?
    The asking price for this property is $650,000.
    (585) 244-4444
    Request Owner's contact information
    211 Ridge Rd Rochester, NY 14615
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    Rochester, NY 14615
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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
    211 Ridge Rd Rochester, NY 14615
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    We can help!
    Listing Contact
    Evan Schaefer
    (585) 244-4444
    Learn more
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