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    3 Geddes St Holley, NY 14470

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    For Sale
    $425,000

    Prime commercial property suitable for grocery, retail, warehouse, or office.

    Lot size:
    1.50 Acres

    Property Features for 3 Geddes St

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    1.50 Acres

    Building Details

    Year built
    1979

    We can help!

    Listing Contact
    Nadia H Cheema
    Nadia H Cheema
    Source: Elliman

    Listing Agent: Nadia H Cheema

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

    Learn more

    Overview

    Versatile Commercial Property with Incentives

    This commercial property presents a significant opportunity for various business ventures. The property, formerly a grocery store, includes 24,379 square feet of market space, office space, and a pharmacy with existing lease income. The existing infrastructure, including coolers, freezers, and meat preparation areas, could facilitate the establishment of a new grocery store. The location in a college town, near businesses and universities, offers high foot traffic, connectivity, and visibility, which is advantageous for deliveries. The area is considered a food desert, and potential buyers may be eligible for low-cost loans and grants for constructing a grocery store. The village trustees are supportive of establishing a new grocery store in the town. Alternatively, the property features extensive warehouse space suitable for storage or manufacturing, complete with a loading dock, drive-in doors, and office spaces. Its location near the highway enhances its appeal for warehousing. The property offers open space, providing flexibility for various business uses. Tax incentives are available.
    Location Intelligence

    Current Use by Public Records

    Holley Pharmacy Pharmacy John M. Carl, ... Pharmacy Lucas J. Miller, ... Pharmacy

    Suggested Use

    Real Estate Agency Law Firm Restaurant 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.

    Location Insight

    • Map
    • Local Demand
    City
    Holley
    County
    Orleans
    State
    New York
    Longitude
    -78.023248
    Latitude
    43.22467

    Nearby Similar for Sale

    • $425,000
      21,075 SF

      Holley Commercial Property with Warehouse

      Commercial property with grocery store and warehouse space available.
      3 Geddes Street Ext, Holley, NY 14470
      View Details
    • $109,900

      Spacious Home in 55+ Community

      Three-bedroom, two-bath home in Holley, NY 55+ community.
      900 Cobblestone Ct, Holley, NY 14470
      View Details

    FAQs

    What type of property is this?
    Grocery and convenience store - Prime commercial property suitable for grocery, retail, warehouse, or office.
    Where is this grocery and convenience store located?
    The property is located at 3 Geddes St Holley, NY.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: - Located in a designated food desert with high demand for a grocery store.; - Eligible for low-cost loans and grants for grocery store construction.; - Existing infrastructure **includes coolers, freezers, and meat prep areas.**
    (585) 313-7765
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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
    3 Geddes St Holley, NY 14470
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    We can help!
    Listing Contact
    Nadia H Cheema
    Nadia H Cheema
    Real Estate License ID: 10401311505
    (585) 313-7765 (585) 248-0250
    Learn more
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