Seven-Unit Multifamily
New
For Sale
$399,900
5058 W Ridge Road, Spencerport, NY 14559
Residential, Spencerport, NY
Property Size3,927 SF
Lot Size1.10 Acres
Price / SF$101.83
Days on Market1
Property Features for 5058 W Ridge Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 3, Bathroom 3, Bathroom 2
Appliances
GasWaterHeater
Lot features
Rectangular, Rectangular Lot
Elementary school district
Spencerport
Middle school district
Spencerport
High school district
Spencerport
Subdivision
Parma-264089
Standard status
Active
APN
264089-072-010-0001-039-000
Size
3,927 SF
Lot size
1.10 Acres
Taxes and HOA fees
Tax Annual Amount
5576
Utilities
Sewer type
Septic Tank
Heating system
Forced Air, Natural Gas
Water source
Public
Building Details
Year built
1920
Floors in Building
3
Number of units
3
Flooring type
Carpet, Varies
Building materials
AluminumSiding
Listing Agency:
RE/MAX Realty Group · RE/MAX International
(585) 248-0250
Listed By:
Todd M. Enright · License #40EN0798448
(585) 248-0250
Added: Aug 29
Last Checked: Aug 29 at 4:06PM
MLS# R1710835
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily property includes a three-family residence that is currently rented, along with an older motel structure containing four additional rental units. The four motel units require total rehabilitation. The improvements provide a combined 3,927 square feet on 1.1 acres, with aluminum siding, varied flooring, forced-air natural gas heat, and a gas water heater. The property was built in 1920 and is served by public water and a septic tank.
Located on W Ridge Road in Spencerport, the site carries highway commercial zoning. Its existing residential improvements and commercial zoning create a property profile with both multifamily and broader commercial land-use context. The recorded address is 5058 W Ridge Road, Spencerport, NY 14559.
Located on W Ridge Road in Spencerport, the site carries highway commercial zoning. Its existing residential improvements and commercial zoning create a property profile with both multifamily and broader commercial land-use context. The recorded address is 5058 W Ridge Road, Spencerport, NY 14559.
Key Highlights
- Three‑family home is currently rented
- Four additional rental units require total rehabilitation
- 1.1‑acre property with 3,927 square feet of improvements
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
$36,607
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
9.15%
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%
$732,140
$732.1K
Cap Rate 7%
$522,957
$523.0K
Cap Rate 9%
$406,744
$406.7K
Market Conditions
NOI Build-Up for 3,927 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
$54.2K $13.80/SF
− Vacancy
−$1.9K −$0.48/SF
EGI
$52.3K $13.32/SF
− OpEx
−$15.7K −$4.00/SF
NOI
$36.6K $9.32/SF
Area
Monroe County, NY
Vacancy
3.50%
Lease Rate
$13.80 /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%
$732,140
Cap Rate 7%
$522,957
Cap Rate 9%
$406,744
Alternative Uses
Best Use
Multifamily LT 5
$523.0K
$457.6K – $610.1K
NOI $36,607 @ 7.0% cap · market cap 9.15%
Second Best
Apartment 5plus
$472.4K
$413.3K – $551.1K
NOI $33,065 @ 7.0% cap · market cap 8.27%
Theoretical Best
Specialty Retail
$753.9K
$659.6K – $879.5K
NOI $52,771 @ 7.0% cap · market cap 13.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
100
Businesses Nearby
Explore this area
Business Placement
Demographics for 14559, NY
17,964
Population
7,412
Households
2.4
Avg Household Size
45
Median Age
39%
College-Educated
94%
High-School Grad
43.7 sq mi
ZIP Area
411
Density / Sq Mi
$91,021
Median Household Income
$50,216
Median Earnings
$1,150
Median Rent
$218,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Multifamily property - Income-producing residential property combines a rented three-family home with four additional units requiring complete rehabilitation.
Where is this multifamily property located?
The property is located at 5058 W Ridge Road Spencerport, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Three‑family home is currently rented; Four additional rental units require total rehabilitation; 1.1‑acre property with 3,927 square feet of improvements
