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    5380 W Ridge Rd Spencerport, NY 14559

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    For Sale
    $300,000

    Three-unit property with modern updates and private, wooded lot.

    Type:Multi Family
    Lot size:
    0.50 Acres
    Added:
    Apr 27, 2026
    Days on Market:
    12
    Last Refresh:
    Apr 27 at 10:57 pm

    Property Features for 5380 W Ridge Rd

    General Information

    Standard status
    Active
    Lot size
    0.50 Acres
    Property subtype
    Multi Family

    Building Details

    Year Built
    1968

    We can help!

    Listing Contact
    Alan J. Wood
    Alan J. Wood

    Listing agent Alan J. Wood License #49WO1164272

    Listing office RE/MAX Plus

    Listing date Apr 27, 2026

    Source Elliman

    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 RE/MAX Plus

    HighLights

    • Multi‑family property with three units, offering income potential or owner‑occupancy.
    • Located within the desirable Spencerport School District.
    • Large half‑acre lot backing to woods, providing privacy.
    • Newer septic system (approx. 2 years old) and tear‑off roof (2018).
    • Separate gas and electric meters for each unit.
    • Detached garage for storage and double‑wide driveway.

    Overview

    Spacious Multi-Unit Property in Parma

    This three-unit multi-family property is located in the suburbs and is part of the Spencerport school district. The property is situated on a half-acre lot that backs onto woods, offering increased privacy. The building includes two upper units, one with one bedroom and one bathroom, and the other with two bedrooms and one bathroom; both feature open layouts. The lower level contains an additional two-bedroom, one-bathroom unit. The square footage listed does not include the lower level. The property has a newer septic system installed approximately two years ago and is connected to public water. The roof was replaced in 2018. Each unit has separate gas and electric meters. The upper units are serviced by a forced air furnace installed around 2018, while the lower unit has baseboard heat. The hot water heaters for the upper units were installed in 2018, and the lower unit's hot water heater was installed in 2025. Additional features include vinyl siding, a double-wide driveway, a detached garage for storage, and a large yard that backs to woods and fields. The property is tenant-occupied.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Law Firm Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm Hotel & Motel Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Spencerport
    County
    Monroe
    State
    New York
    Longitude
    -77.8250921
    Latitude
    43.2212491

    FAQs

    What type of property is this?
    Triplex - Three-unit property with modern updates and private, wooded lot.
    Where is this triplex located?
    The property is located at 5380 W Ridge Rd Spencerport, NY.
    What is the asking price?
    The asking price for this property is $300,000.
    What are key features of this property?
    This property features: Multi‑family property with three units, offering income potential or owner‑occupancy.; Located within the desirable Spencerport School District.; Large half‑acre lot backing to woods, providing privacy.
    (585) 279-8282
    We can help!
    Listing Contact
    Alan J. Wood
    Alan J. Wood
    Real Estate License ID: 49WO1164272
    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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