Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1520 Spencerport Rd Gates, NY 14606

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,300,000

    Cash flowing commercial building with triple net leases in place.

    Lot size:
    1.30 Acres

    Property Features for 1520 Spencerport Rd

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    1.30 Acres

    Building Details

    Year built
    1960

    We can help!

    Listing Contact
    James Hinman
    Source: Elliman

    Listing Agency: Howard Hanna Listing Agent: James Hinman

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

    Learn more

    Overview

    Commercial Building with Longstanding Tenants

    This commercial building presents an opportunity for generating income. The property is occupied by well-established tenants. Triple net leases are in place, potentially minimizing owner involvement, with the possibility to purchase and collect rents. Rents are current, and the roof is new.
    Location Intelligence

    Current Use by Public Records

    Gates Big M Grocery & Convenience Store LibertyX Bitcoin ATM Atm Coupon Express Inc Advertising Agency battery Gym & Fitness Center Western Union Bank

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center Big Box & Wholesale Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Gates
    County
    Monroe
    State
    New York
    Longitude
    -77.7312609
    Latitude
    43.1754496

    Nearby Similar for Sale

    • $1,100,000

      Freestanding Building on Buffalo Road

      Well-maintained commercial building with high visibility and ample parking.
      2860 Buffalo Rd, Gates, NY 14624
      View Details
    • $699,900

      Restaurant, Bar, and Event Venue

      Multi-use property operating as restaurant, bar, and event venue.
      250 Pixley Rd, Gates, NY 14624
      View Details
    • $949,950

      High-Traffic Area Commercial Property

      Commercial property in high-traffic area suitable for retail or office.
      3545 Buffalo Rd, Gates, NY 14624
      View Details
    • $120,000
      Pending

      Medical Suite Ownership Opportunity

      2,000 SF commercial suite ownership, delivered vacant, ideal for owner-user.
      2211 Lyell Ave, Gates, NY 14606
      View Details
    • $1,300,000

      Commercial Building with Established Tenants

      Cash-flowing commercial building with triple net leases and new roof.
      1520 Spencerport Rd, Gates, NY 14606
      View Details
    • $120,000
      26,794 SF

      Gates Office Condo: Prime Location

      Spacious Office Condo, 26,794 sq ft
      2211 Lyell Ave, Gates, NY 14606
      View Details

    FAQs

    What type of property is this?
    NNN property - Cash flowing commercial building with triple net leases in place.
    Where is this nnn property located?
    The property is located at 1520 Spencerport Rd Gates, NY.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: - Cash flowing commercial building with longstanding, well-known tenants.; - Triple net leases in place for minimal owner involvement.; - Rents are current.
    (585) 719-3500
    Request Owner's contact information
    1520 Spencerport Rd Gates, NY 14606
    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.
    1520 Spencerport Rd
    Gates, NY 14606
    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
    1520 Spencerport Rd Gates, NY 14606
    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
    James Hinman
    (585) 719-3500 (585) 352-8833
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!