Standalone Retail Property with NNN
For Sale
Contact for pricing
1500 W Ridge Rd, Rochester, NY 14615
Standalone retail building with a long-term Buffalo Wild Wings tenant under a double net lease structure.
Property Size5,791 SF
Price / SF$241.75
Days on Market622
Property Features for 1500 W Ridge Rd
General Information
Standard status
Active
Size
5,791 SF
Total Parking Spaces
92
Property subtype
RETAIL
Building Details
Year Built
2014
Listing Agency:
Caliber Commercial Brokerage, LLC
(585) 454-4500
Listed By:
Marc Quercia · License ##10401239430
(585) 509-0632
Source:
Moodyscre
Added: Dec 31, 2024
Changed: Sep 14
Last Checked: Sep 14 at 7:45AM
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 Caliber Commercial Brokerage, LLC
Investment Insights
Based on property information with market context.
This premium standalone retail property totals 5,791 SF and has been established since 2014. It is currently leased to Buffalo Wild Wings under a double net (NN) structure with a remaining term under five years and three additional five-year renewal options.
The property generates $93,500 annually. The tenant is responsible for taxes, insurance, and common area maintenance, while the landlord’s obligations are limited to the roof, structure, and parking. The site includes 92 parking spaces and benefits from high visibility at a bustling intersection.
Offered for sale, the building is positioned for investors seeking a stable, income-producing retail asset within a defined NNN responsibility framework.
The property generates $93,500 annually. The tenant is responsible for taxes, insurance, and common area maintenance, while the landlord’s obligations are limited to the roof, structure, and parking. The site includes 92 parking spaces and benefits from high visibility at a bustling intersection.
Offered for sale, the building is positioned for investors seeking a stable, income-producing retail asset within a defined NNN responsibility framework.
Key Highlights
- 5,791 SF standalone retail building established in 2014 with a long‑standing Buffalo Wild Wings tenant
- Under a five‑year double net (NN) lease with three additional five‑year renewal options
- Generates $93,500 annually; tenant pays taxes, insurance, and common area maintenance
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$78,541
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.61%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,570,820
$1.6M
Cap Rate 7%
$1,122,014
$1.1M
Cap Rate 9%
$872,678
$872.7K
Market Conditions
NOI Build-Up for 5,791 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$125.1K $21.60/SF
− Vacancy
−$12.9K −$2.22/SF
EGI
$112.2K $19.38/SF
− OpEx
−$33.7K −$5.81/SF
NOI
$78.5K $13.56/SF
Area
Rochester, NY
Vacancy
10.30%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,570,820
Cap Rate 7%
$1,122,014
Cap Rate 9%
$872,678
Alternative Uses
Best Use
Retail
$1.12M
$981.8K – $1.31M
NOI $78,541 @ 7.0% cap · market cap 5.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.59M
$1.39M – $1.85M
NOI $111,048 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
547
Businesses Nearby
221k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 17%
Home Improvements & Furnishings 17%
Hotels & Casinos 6%
The Home Depot
Home Improvements & Furnishings
38,229 visits/mo
0.3 miles
Chipotle Mexican Grill
Dining
20,680 visits/mo
0.5 miles
Olive Garden
Dining
20,584 visits/mo
0.2 miles
Dollar Tree
Shops & Services
19,856 visits/mo
0.1 miles
Taco Bell
Dining
16,465 visits/mo
0.2 miles
Demographics for 14615, NY
16,862
Population
8,258
Households
2
Avg Household Size
36
Median Age
21%
College-Educated
90%
High-School Grad
5.9 sq mi
ZIP Area
2,858
Density / Sq Mi
$53,150
Median Household Income
$37,895
Median Earnings
$1,065
Median Rent
$121,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Rochester, NY
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Frequently Asked Questions
What type of property is this?
Retail space - Standalone retail building with a long-term Buffalo Wild Wings tenant under a double net lease structure.
Where is this retail space located?
The property is located at 1500 W Ridge Rd Rochester, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 5,791 SF standalone retail building established in 2014 with a long‑standing Buffalo Wild Wings tenant; Under a five‑year double net (NN) lease with three additional five‑year renewal options; Generates $93,500 annually; tenant pays taxes, insurance, and common area maintenance
