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    Walmart Shadow-Anchored Retail & Office Title is generated by Realmo AI

    2036 Chili Avenue, Westgate, NY 14624

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    For Lease
    $7 SF/Yr $38,776/Mo (calc)

    Retail and office spaces available in a busy shopping center.

    Type:Retail
    Property size:
    62,042 SF
    Added:
    Nov 26, 2025
    Days on Market:
    169
    Last Refresh:
    Apr 5 at 8:48 pm

    Property Features for 2036 Chili Avenue

    General Information

    Standard status
    Active
    Size
    62,042 SF
    Property subtype
    Retail

    Spaces For Lease

    at 2036 Chili Avenue Contact us

    We can help!

    Listing Contact
    Brian Donovan
    Brian Donovan

    Listing agent Brian Donovan License #NY #10491202934

    Listing office Donovan Real Estate Services

    Listing date Nov 26, 2025

    Source Donovanres

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Donovan Real Estate Services

    HighLights

    • Walmart shadow‑anchored shopping center location.
    • High‑traffic location serving Gates and Chili, near airport and Wegmans HQ.
    • Available inline space between Bath & Body Works and Ross Dress for Less.
    • Professional office space with multiple conference rooms and workspaces.
    • Strong tenant mix in plaza, including Citi Trends, Hibbett Sports, and Ross.
    • Pylon and building signage available.

    Overview

    Located in Gates, NY, The Shoppes at Westgate is a Walmart shadow-anchored shopping center serving the southwest Rochester communities of Gates and Chili. The property is situated near the Greater Rochester International Airport and Wegmans Corporate headquarters. Available for lease are three spaces, including a 2,750 SF inline space positioned between Bath & Body Works and Ross Dress for Less. Additionally, there is an 8,026 SF professional office space located behind the inline retail. The office space features multiple conference rooms, workspaces, and large flat surfaces, making it suitable for architecture, engineering, planning, construction, or other creative industries. The shopping center's tenants include Citi Trends, Hibbett Sports, Bath & Body Works, Citizens Bank, Ross Dress for Less, and Shoe Dept. Nearby tenants include Walmart, Starbucks, Aspen Dental, Dollar Tree, Applebee's, Chase Bank, Panera, GameStop, and McDonald's. The property offers pylon signage and building signage, a signalized entrance, multiple curb cuts, and dedicated parking for the professional office space.
    Location Intelligence

    Current Use by Public Records

    Ross Dress for Less Clothing Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    • Quick-Tag — Walmart Supercenter, 2150 Chili Ave, Rochester, NY 14624
    • The Shoppes at Westgate Park — Howard Rd, Rochester, NY 14624
    • Westgate Plaza — 2056 Chili Ave, Gates, NY 14624

    Location Insight

    • Map
    • Local Demand
    City
    Westgate
    County
    Monroe
    State
    New York
    Longitude
    -77.6869
    Latitude
    43.1338

    FAQs

    What type of property is this?
    Shopping center - Retail and office spaces available in a busy shopping center.
    Where is this shopping center located?
    The property is located at 2036 Chili Avenue Westgate, NY.
    What is the lease rate?
    The lease rate is $7 SF/Yr.
    What are key features of this property?
    This property features: Walmart shadow‑anchored shopping center location.; High‑traffic location serving Gates and Chili, near airport and Wegmans HQ.; Available inline space between Bath & Body Works and Ross Dress for Less.
    (716) 998-2943
    We can help!
    Listing Contact
    Brian Donovan
    Brian Donovan
    Real Estate License ID: NY #10491202934
    Learn More
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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.

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