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

    7 Patterson Ave Geneva, NY 14456

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $134,900

    3224 SF retail building with office and storage.

    Lot size:
    0.07 Acres

    Property Features for 7 Patterson Ave

    General Information

    Lot size
    0.07 Acres

    Building Details

    Year built
    1900

    We can help!

    Listing Contact
    Donna Stivers
    Source: Elliman

    Listing Agent: Donna Stivers

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

    Learn more

    Overview

    Retail Building with Storage Space

    This 3224 square foot building presents an opportunity for various business ventures. The property features a large overhead door suitable for accommodating a vehicle or equipment. The rear of the building is currently configured as an office space. The upper level provides ample storage capacity. A vacant lot adjacent to the building could be utilized for parking. The property is situated off Hammond Avenue, which is a one-way street.
    Location Intelligence

    Current Use by Public Records

    CQ Sign Co Sign Shop

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Geneva
    County
    Ontario
    State
    New York
    Longitude
    -76.98588
    Latitude
    42.87046

    Nearby Similar for Sale

    • New
      $1,650,000
      31,150 SF

      Historic Geneva Boutique Hotel Project

      Turn-key real estate development project in Geneva's Historic District.
      520 S Main St, Geneva, NY 14456
      View Details
    • $799,999
      4,554 SF

      Historic Macberns House Investment Opportunity

      Historic Geneva property with income potential and Seneca Lake views.
      379 S Main St, Geneva, NY 14456
      View Details
    • $599,000
      6,273 SF

      Geneva Commercial Property For Sale

      Versatile property in Geneva's business district, near colleges and Wegmans.
      258 Hamilton St, Geneva, NY 14456
      View Details
    • $359,000
      Pending

      Colonial with Income Potential

      Versatile property with rental opportunities and commercial zoning.
      1744 State Route 5 And 20, Geneva, NY 14456
      View Details
    • $335,000
      5,794 SF

      Renovated Mixed-Use Geneva Investment

      Fully renovated mixed-use property with income potential in desirable location.
      86 E North St, Geneva, NY 14456
      View Details
    • $325,000
      3,366 SF

      Fully Occupied Geneva Triplex Investment

      Stabilized triplex in Geneva, NY with strong rental demand.
      31 Genesee St, Geneva, NY 14456
      View Details
    • $139,000
      Pending

      Geneva Duplex in Castle Heights

      Investment opportunity near Geneva Hospital, Hobart and William Smith Colleges.
      160 Lafayette Ave, Geneva, NY 14456
      View Details
    • $109,500
      2,702 SF

      Charming Geneva Two-Family Home

      Two-family home near Seneca Lake, ideal for owner occupancy.
      53 Lewis St, Geneva, NY 14456
      View Details
    • $399,900
      3,616 SF

      Geneva Mixed-Use Investment Opportunity

      Commercial storefront, single-family home, and duplex in Geneva, NY.
      297 E North St, Geneva, NY 14456
      View Details
    • $799,900

      Established Bar and Grill Opportunity

      Thriving bar and grill with expansion potential in downtown Geneva.
      38 Seneca St, Geneva, NY 14456
      View Details
    • $375,000

      Mixed-Use Property Near Seneca Lake

      Mixed-use property with commercial space and updated apartment near Seneca Lake.
      436 Exchange St, Geneva, NY 14456
      View Details
    • $650,000

      Established Pizzeria with Income Apartments

      Turn-key pizzeria and Italian restaurant with three income-producing apartments.
      99 N Genesee St, Geneva, NY 14456
      View Details

    FAQs

    What type of property is this?
    Storefront property - 3224 SF retail building with office and storage.
    Where is this storefront property located?
    The property is located at 7 Patterson Ave Geneva, NY.
    What is the asking price?
    The asking price for this property is $134,900.
    What are key features of this property?
    This property features: - Large 3224 SF building suitable for various business uses.; - **Large overhead door allows for vehicle or equipment access.**; - Vacant lot adjacent to the building provides potential parking.
    (315) 587-5044
    Request Owner's contact information
    7 Patterson Ave Geneva, NY 14456
    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.
    7 Patterson Ave
    Geneva, NY 14456
    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
    7 Patterson Ave Geneva, NY 14456
    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
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Donna Stivers
    (315) 587-5044
    Learn more
    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.