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    4583 Lima Rd Geneseo, NY 14454

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    For Sale
    Pending
    $875,000

    Multi-revenue equestrian facility on 80 acres in New York.

    Lot size:
    80.00 Acres

    Property Features for 4583 Lima Rd

    General Information

    Property type
    Farm and Ranch Properties
    Standard status
    Pending
    Lot size
    80.00 Acres

    We can help!

    Listing Contact
    Alan S. Cole
    Source: Elliman

    Listing Agency: AB Cole Real Estate, Inc. Listing Agent: Alan S. Cole

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

    Learn more

    Overview

    Equestrian Facility in Genesee Valley

    Located in the Genesee Valley of Western NY, this equestrian facility spans 80 rolling acres, with a portion of the land tillable and leased to a local farmer. The property includes a historic home built in 1823 with a cobblestone foundation, front porch, new architectural metal roof, triple pane thermal windows, and leaded glass windows. The home features two patios and a deck overlooking a valley view, with select rooms currently being updated. The metal barn/stable includes 22 box stalls with rubber matting, 18 tie stalls, 2 wash stalls (one with hot and cold water), 1 bathroom, and 4 hydrants. A historic wooden barn, built in the 1900s, offers 6 box stalls, a workshop, and hay storage with a newer metal roof. The property also features a large attached indoor arena (72'x226') with separate heated lounge and office spaces with viewing windows. An outdoor dressage arena (20x60 meters) has rubber chips and gravel for footing, along with many trails, PVC, and high tensile fencing. The grounds include numerous gardens and two ponds. Public water is available in the front yard. Approximately 13 acres are wooded, and the property has ample road frontage. The facility has been operating successfully for 40 years and is located in the Finger Lakes Region, near the Antique Trail, Wine Country, Letchworth State Park, and the Village of Geneseo. The property is known as the home of the Genesee Valley Hunt Races.
    Location Intelligence

    Current Use by Public Records

    Rolelu Stables, Inc. Horse Boarding Stable

    Suggested Use

    Law Firm Dental Office Veterinary Clinic

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

    Location Insight

    • Map
    • Local Demand
    City
    Geneseo
    County
    Livingston
    State
    New York
    Longitude
    -77.7689476
    Latitude
    42.822176

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    FAQs

    What type of property is this?
    Horse & equestrian property - Multi-revenue equestrian facility on 80 acres in New York.
    Where is this horse & equestrian property located?
    The property is located at 4583 Lima Rd Geneseo, NY.
    What is the asking price?
    The asking price for this property is $875,000.
    What are key features of this property?
    This property features: - Multi-revenue generating equestrian facility with **22 box stalls, 18 tie stalls, indoor arena (72'x226'), and outdoor dressage arena (20x60 meters).**; - 80 rolling acres in the Genesee Valley, including tillable land, wooded areas, and ample road frontage.; - **Historic home (built in 1823) with cobblestone foundation, new architectural metal roof, triple pane thermal windows, and valley views.**
    (585) 243-2643
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    4583 Lima Rd Geneseo, NY 14454
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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
    4583 Lima Rd Geneseo, NY 14454
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    We can help!
    Listing Contact
    Alan S. Cole
    Real Estate License ID: 40CO0800613
    (585) 243-2643 (585) 764-8256
    Learn more
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