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

    248 Exchange St Geneva, NY

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    39,986 sq. ft. property in downtown Geneva.

    Type:RETAIL
    Property size:
    39,986 SF
    Lot size:
    0.75 Acres
    Price / SF:
    $14/SF
    Added:
    Oct 15, 2024
    Days on Market:
    566
    Last Refresh:
    Apr 5 at 10:05 pm

    Property Features for 248 Exchange St

    General Information

    Standard status
    Active
    Size
    39,986 SF
    Lot size
    0.75 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Kenneth Harris
    Kenneth Harris

    Listing agent Kenneth Harris

    Listing office Century 21 - Steve Davoli Real Estate | Geneva

    Listing date Oct 15, 2024

    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 Century 21 - Steve Davoli Real Estate | Geneva

    Overview

    Geneva Development Opportunity

    Located in the heart of Geneva, this 39,986 sq. ft. property presents a development opportunity. Currently operating as a furniture store, the property offers potential for redevelopment into luxury apartments, retail space, office suites, or a mixed-use project. Situated in a high-traffic area in downtown Geneva, the property is surrounded by shopping, dining, and entertainment options. The parcel is contiguous with a 2-acre city-owned property, and the city is open to proposals for development. The property's flexible space allows for creative development, and its versatile zoning supports multi-use development, including retail, office space, or residential units. The expansive upper floors are suitable for apartments or lofts, offering city views. This property is suitable for developers and investors looking to maximize returns. The owner will consider a lease back or sale with the business.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Geneva
    County
    Ontario
    State
    New York
    Longitude
    -76.9802
    Latitude
    42.8715

    Nearby Similar for Sale

    • $325,000
      2,640 SF

      Geneva Commercial Opportunity For Sale

      Versatile 2,760 sq ft commercial building suitable for various uses.
      762 Pre Emption Road, Geneva, NY 14456
      View Details
    • $599,000
      6,273 SF

      Geneva Commercial Property For Sale

      Versatile property in Geneva's business district, near colleges and Wegmans.
      258 Hamilton Street, Geneva, NY 14456
      View Details
    • $799,999
      4,554 SF

      Historic Macberns House Investment Opportunity

      Historic Geneva property with income potential and Seneca Lake views.
      379 S Main Street, Geneva, NY 14456
      View Details
    • $1,100,000
      11,700 SF

      Downtown Geneva Mixed-Use Investment

      Renovated mixed-use property with commercial and residential units.
      410-414 Exchange Street, Geneva, NY 14456
      View Details
    • $1,100,000
      11,700 SF

      Downtown Geneva Mixed-Use Investment

      Renovated mixed-use property with commercial and residential units.
      410-414 Exchange Street, Geneva, NY 14456
      View Details
    • $1,100,000
      11,700 SF

      Downtown Geneva Mixed-Use Investment

      Renovated mixed-use property with commercial and residential units.
      410-414 Exchange Street, Geneva, NY 14456
      View Details
    • $249,000
      3,048 SF

      Updated Triplex Near Seneca Lake

      Solid investment property with updated apartments and on-site laundry.
      28 N Genesee Street, Geneva, NY 14456
      View Details
    • $134,900
      2,192 SF

      Geneva Two-Family Home For Sale

      Two-family home in Geneva, near Downtown and Seneca Lake.
      52 High Street, Geneva, NY 14456
      View Details
    • $170,000

      Seneca Lake Frontage Land

      0.32 acres with 50 feet of Seneca Lake frontage.
      Teall Beach, Geneva, NY 14456
      View Details
    • $44,900

      Commercial Land in Finger Lakes

      Commercial parcel in Finger Lakes wine country with high visibility.
      State Routes 5 and 20 Highway, Geneva, NY 14456
      View Details
    • $329,900

      Three-Unit Property in Geneva, NY

      Three-unit property with rental income potential in Geneva, NY.
      122 Lafayette Ave, Geneva, NY 14456
      View Details
    • $325,000
      2,640 SF

      Versatile Commercial Opportunity in Geneva

      2,760 sq. ft. building suitable for business or medical use.
      762 Pre Emption Road, Geneva, NY 14456
      View Details

    FAQs

    What type of property is this?
    Storefront property - 39,986 sq. ft. property in downtown Geneva.
    Where is this storefront property located?
    The property is located at 248 Exchange St Geneva, NY.
    What is the asking price?
    The asking price for this property is $579,000.
    What are key features of this property?
    This property features: Prime location in downtown Geneva with high traffic, surrounded by shopping, dining, and entertainment.; 39,986 sq. ft. of flexible space suitable for various redevelopment projects.; Versatile zoning allows for multi‑use development (retail, office, residential).
    (315) 945-0929 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Kenneth Harris
    Kenneth Harris
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry

    248 Exchange St, Geneva, NY

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!