Building Details

Building Size 3,469 SF

Year Built 1950

Stories 1

Listing Agency: Real Broker NY LLC m***@thesharmanteam.com Show Phone

Listed By: Matthew Sharman · License #10401389200 Show Phone

Source: Elliman

Added: Aug 8 Changed: Aug 9 Last Checked: Aug 9 at 8:57AM

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Investment Insights

Based on property information with market context.

This flex property combines nearly 3,500 square feet of adaptable commercial space with more than an acre of land. The 1950 building includes commercial bay doors, dedicated office space, a bathroom, gas shop heaters, updated lighting, and newly installed interior walls. A fully renovated interior is complemented by a new roof and new siding, while public utilities serve the property and are separated for potential tenancy arrangements.

Located at 6150 S Livonia Rd in Conesus Hamlet, the property offers a flexible physical setup for an owner-user or an operation requiring both work and office areas. Mixed-use zoning, open interior space, and the surrounding acreage provide a broad foundation for future configuration.

Key Highlights

• Nearly 3,500 square feet of flex space
• More than an acre of land
• Mixed‑use zoning

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

$35,381

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

8.87%

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%

$707,620 $707.6K

Cap Rate 7%

$505,443 $505.4K

Cap Rate 9%

$393,122 $393.1K

Market Conditions

NOI Build-Up for 3,469 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

$54.1K $15.60/SF

− Vacancy

−$3.6K −$1.03/SF

EGI

$50.5K $14.57/SF

− OpEx

−$15.2K −$4.37/SF

NOI

$35.4K $10.20/SF

Area

Livingston County, NY

Vacancy

6.60%

Lease Rate

$15.60 /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%

$707,620

Cap Rate 7%

$505,443

Cap Rate 9%

$393,122

Alternative Uses

Best Use

Office B

$712.7K

$623.6K – $831.5K (±1% cap)

NOI $49,891 @ 7.0% cap · market cap 12.50%

Second Best

Warehouse

$613.8K

$537.0K – $716.1K (±1% cap)

NOI $42,963 @ 7.0% cap · market cap 10.77%

Theoretical Best

Office A

$950.3K

$831.5K – $1.11M (±1% cap)

NOI $66,522 @ 7.0% cap · market cap 16.67%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

T Gray Automotive Auto Repair Shop

Suggested Use

Top Pick Storage Facility Auto Repair Shop Daycare Center (Bike/Boat/Book/etc) Store Restaurant Discount Store

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

Lease Details

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

33

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 14435, NY

2,761

Population

1,490

Households

1.9

Avg Household Size

51

Median Age

29%

College-Educated

92%

High-School Grad

36.4 sq mi

ZIP Area

76

Density / Sq Mi

$68,472

Median Household Income

$48,702

Median Earnings

$1,113

Median Rent

$211,100

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Renovated flex property with office space, commercial bay doors, mixed-use zoning, and separated utilities.

Where is this flex space located?

The property is located at 6150 S Livonia Rd Conesus, NY.

What is the asking price?

The asking price for this property is $399,000.

What are key features of this property?

This property features: Nearly 3,500 square feet of flex space; More than an acre of land; Mixed‑use zoning