Building Details

Building Size 3,927 SF

Year Built 1920

Listing Agency: RE/MAX Realty Group

Listed By: Todd M. Enright · License #40EN0798448 Show Phone

Source: Highfallssir

Added: Aug 7 Changed: Oct 7 Last Checked: Oct 21 at 4:06AM

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Investment Insights

Based on property information with market context.

This 1.1-acre commercial land property includes a three-family home that is currently rented, along with an older motel containing four additional rental units. The motel improvements require total rehabilitation, while the residential component provides an existing income-producing use.

The property is located at 5058 W Ridge Road in Spencerport, NY 14559. Highway commercial zoning supports consideration of uses identified in the property information, including a car wash, car dealership, repair shop, or self-storage operation. The improvements date to 1920.

Key Highlights

• 1.1‑acre commercial land property
• Highway commercial zoning on W Ridge Road
• Three‑family home currently rented

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$36,607

Cap Rate

9.15%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$732,140 $732.1K

Cap Rate 7%

$522,957 $523.0K

Cap Rate 9%

$406,744 $406.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,927 SF

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 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 (±1% cap)

NOI $36,607 @ 7.0% cap · market cap 9.15%

Second Best

Apartment 5plus

$472.4K

$413.3K – $551.1K (±1% cap)

NOI $33,065 @ 7.0% cap · market cap 8.27%

Theoretical Best

Specialty Retail

$753.9K

$659.6K – $879.5K (±1% cap)

NOI $52,771 @ 7.0% cap · market cap 13.20%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Commercial land

Suggested Use

Top Pick Big Box & Wholesale Store Building Supply Kitchen & Bath Showroom Computer & Electronic Repair Home Appliance Store Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Commercial land - Highway commercial zoning accompanies existing residential and motel improvements.

Where is this commercial land located?

The property is located at 5058 West 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: 1.1‑acre commercial land property; Highway commercial zoning on W Ridge Road; Three‑family home currently rented