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    2255 E Ridge Rd Irondequoit, NY

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    225,185 SF shopping center in Irondequoit, New York.

    Type:RETAIL
    Property size:
    58,012 SF
    Lot size:
    18.62 Acres
    Added:
    Mar 28, 2023
    Days on Market:
    1130
    Last Refresh:
    Apr 5 at 10:18 pm

    Property Features for 2255 E Ridge Rd

    General Information

    Standard status
    Active
    Size
    58,012 SF
    Lot size
    18.62 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 2255 E Ridge Rd Contact us

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    Listing Contact
    Michael A. Smith

    Listing agent Michael A. Smith

    Listing office LLD Enterprises

    Listing date Mar 28, 2023

    Source Moodyscre

    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 LLD Enterprises

    Overview

    Irondequoit Shopping Center For Rent

    Located at 2255 East Ridge Road in Irondequoit, New York, Culver Ridge Plaza is a 225,185 square foot shopping center. The center is anchored by Marshalls, Dollar Tree, Party City, Petco and CSL Plasma, as well as a diverse mix of national and local in-line retailers and three financial institutions. The center is 94.6% leased. Irondequoit is a major suburb of Rochester, located just six minutes from downtown Rochester. Within a five-mile radius of the center there is a population of 260,491 people. Culver Ridge is located along East Ridge Road, at the end of the retail corridor, just off the interchange of New York State Routes 104 and 590. This center shares a light with Wegmans, leading into a residential area. Further west along East Ridge Road are other major retailers such as Target, Tops, Home Depot, Super Walmart, Esporta Fitness, and Planet Fitness. This center shares a light with Wegmans, which is directly across the street and adjacent to Eastridge High School. It is the market dominant center in the eastern part of the retail trade area. Upscale residential neighborhoods surround the Irondequoit Bay area just to the east.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Tin Pethan DDS Dental Office Pizza Hut Take-out & Catering Citizens Bank Liquor Warehouse Specialty Food Shop Master Kim's Taekwondo ... Training Center

    Suggested Use

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

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

    Similar Places Nearby

    • Ridgeview Place — 1850 East Ridge Road, Irondequoit, NY 14617
    • The Atrium Mall — Arrow Dr, Irondequoit, NY 14622
    • Culver Ridge Plaza — 2255 East Ridge Road, Irondequoit, NY 14622

    Location Insight

    • Map
    • Local Demand
    City
    Irondequoit
    County
    Monroe
    State
    New York
    Longitude
    -77.5576
    Latitude
    43.2024

    FAQs

    What type of property is this?
    Shopping center - 225,185 SF shopping center in Irondequoit, New York.
    Where is this shopping center located?
    The property is located at 2255 E Ridge Rd Irondequoit, NY.
    What are key features of this property?
    This property features: 94.6% leased shopping center offering a stable investment opportunity.; Anchored by Marshalls, Dollar Tree, Party City, and Petco.; High population density: Over 256,000 people within a five‑mile radius.
    (585) 244-3575 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Michael A. Smith
    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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