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    2211 Lyell Ave Gates, NY 14606

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    Pending
    $120,000

    2,000 SF commercial suite ownership, delivered vacant, ideal for owner-user.

    Lot size:
    3.00 Acres

    Property Features for 2211 Lyell Ave

    General Information

    Property type
    Commercial
    Standard status
    Pending
    Lot size
    3.00 Acres

    We can help!

    Listing Contact
    Mark J. Palazzo
    Source: Elliman

    Listing Agent: Mark J. Palazzo

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

    Learn more

    Overview

    Medical Suite Ownership Opportunity

    For sale is an 18.18% LLC ownership of a 2,000 square foot commercial suite, currently used for medical purposes. The space will be delivered vacant due to the owner's retirement. The property includes two combined office condo units totaling 2,000 square feet, along with a partially finished 2,000 square foot basement. The layout features a 300 square foot waiting/office area, a 1,200 square foot open area, two 150 square foot private rooms, a private office with a full bath and shower, two additional handicap-accessible bathrooms, and a small kitchenette. The suite has 8-foot ceilings and includes front and rear handicap-accessible entrances, as well as a basement exit. The building is constructed of brick with a shingle roof. The property was fully renovated in 2015, including vinyl plank flooring, paint, and code updates. A new furnace and AC unit were installed in 2015. Ample parking is available, including handicap spaces. The property has commercial zoning and is up to code. There is no HOA, but monthly LLC dues are $905 per unit, covering all common expenses, plus 2025 taxes of $2,680 and 2025 insurance of $838. Proof of funds for a cash purchase is requested before showings.
    Location Intelligence

    Current Use by Public Records

    Law Office of Marilyn ... Law Firm Gartland Technologies LLC (Bike/Boat/Book/etc) Store Gregory D. Lewish, ... Physician Nihalani Rajendra K Physician Greater Rochester Orthopaedics, ... Physician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Gates
    County
    Monroe
    State
    New York
    Longitude
    -77.6848373
    Latitude
    43.1639562

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    FAQs

    What type of property is this?
    Medical Office Space - 2,000 SF commercial suite ownership, delivered vacant, ideal for owner-user.
    Where is this medical office space located?
    The property is located at 2211 Lyell Ave Gates, NY.
    What is the asking price?
    The asking price for this property is $120,000.
    What are key features of this property?
    This property features: - 18.18% LLC Ownership of 2,000 Sq Ft Commercial Suite; - Ideal owner-user opportunity with space delivered vacant; - 2,000 sq ft partially finished basement
    (585) 259-4050
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    2211 Lyell Ave Gates, NY 14606
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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
    2211 Lyell Ave Gates, NY 14606
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    We can help!
    Listing Contact
    Mark J. Palazzo
    (585) 259-4050
    Learn more
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