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    Albion Storefront on 2.5 Acres Title is generated by Realmo AI

    14462 Ridge Rd W, Albion, NY 14411

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    For Sale
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    3,600 SF building on 2.5 acres, ideal for business.

    Type:Retail
    Property size:
    3,644 SF
    Lot size:
    2.50 Acres
    Price / SF:
    $71/SF
    Added:
    Nov 15, 2024
    Days on Market:
    542
    Last Refresh:
    Mar 17 at 1:14 pm

    Property Features for 14462 Ridge Rd W

    General Information

    Standard status
    Active
    Size
    3,644 SF
    Lot size
    2.50 Acres
    Property subtype
    Retail

    Building Details

    Year Built
    1962

    We can help!

    Listing Contact
    Rick Recckio
    Rick Recckio

    Listing agent Rick Recckio License #NY 31RE0821429

    Listing office Recckio Real Estate and Development Williamsville

    Listing date Nov 15, 2024

    Source Crexi

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

    All listing content including descriptions, pricing, images are the copyrighted material of Recckio Real Estate and Development Williamsville

    HighLights

    • High‑visibility location near the intersection of Route 104 & Route 98, conveniently situated between Rochester and Buffalo.
    • Large 3,600+\/- SF building on 2.5+\/- acres, suitable for various business uses.
    • Ample parking and a well‑maintained exterior with a new roof and security system.
    • Open floor plan with storage, a private office, and a large ADA‑accessible bathroom.
    • Dual zoning capability with two HVAC units.
    • Additional storage space in the hayloft attic.

    Overview

    This property features a 3,600+/- SF building situated on 2.5+/- acres of land, making it suitable for various business ventures. The existing Ridge Road country store, a long-time local establishment, is available for sale. The property benefits from excellent visibility and ample parking. The exterior has been well-maintained, and features a new roof and a security system. The septic tank has been inspected. Inside, the building offers an open floor plan, storage capability, a private office, and a large ADA-accessible bathroom. Two HVAC units in the attic enable dual zoning. Additional storage is available in the hayloft attic. The property is being sold with the building and land; the business is also available for sale at an additional price. Located just north of Albion, New York, the property is east of the Route 104 & Route 98 intersection, offering convenient access between Rochester and Buffalo and to major roadways.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Cobble-Ridge Co-Op Home Decor Store Rustic Ridge Country ... Home Decor Store

    Suggested Use

    Restaurant Auto Repair Shop Hotel & Motel Auto Parts Store Department Store Storage Facility HVAC Service Garden Center Discount Store Bed & Breakfast

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

    Location Insight

    • Map
    • Local Demand
    City
    Albion
    County
    Orleans
    State
    New York
    Longitude
    -78.1859428
    Latitude
    43.2871064

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    FAQs

    What type of property is this?
    Storefront property - 3,600 SF building on 2.5 acres, ideal for business.
    Where is this storefront property located?
    The property is located at 14462 Ridge Rd W Albion, NY.
    What is the asking price?
    The asking price for this property is $259,999.
    What are key features of this property?
    This property features: High‑visibility location near the intersection of Route 104 & Route 98, conveniently situated between Rochester and Buffalo.; Large 3,600+\/- SF building on 2.5+\/- acres, suitable for various business uses.; Ample parking and a well‑maintained exterior with a new roof and security system.
    (716) 834-7777 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Rick Recckio
    Rick Recckio
    Real Estate License ID: NY 31RE0821429
    Learn More
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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
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