Building Details

Year Built 1950

Buildings 1

Stories 1

Listing Agency: REAL broker m***@thesharmanteam.com Show Phone

Listed By: MATTHEW SHARMAN · License #10401389200

Source: Crexi

Added: Aug 25 Changed: Aug 31 Last Checked: Aug 31 at 9:08AM

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Investment Insights

Based on property information with market context.

This 3,469-square-foot flex property sits on more than an acre and carries mixed-use zoning. The building includes commercial bay doors, dedicated office space, a bathroom, gas shop heaters, public utilities, and separately metered utilities. Interior improvements include new walls, updated lighting, a new roof, new siding, and a fully renovated interior.

Located at 6150 S Livonia Rd in Conesus, NY, the property offers road-facing exposure along S Livonia Rd. Constructed in 1950, it combines a substantial land component with a flexible commercial building and infrastructure suited to a range of configurations.

Key Highlights

• 3,469‑square‑foot flex building on more than an acre
• Mixed‑use zoning
• Commercial bay doors with dedicated office space and bathroom

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

Warehouse

$613.8K

$537.0K – $716.1K (±1% cap)

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

Second Best

Industrial

$505.4K

$442.3K – $589.7K (±1% cap)

NOI $35,381 @ 7.0% cap · market cap 8.87%

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

Property Profile

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.

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 Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 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 - The building includes office space, a bathroom, and commercial bay doors.

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: 3,469‑square‑foot flex building on more than an acre; Mixed‑use zoning; Commercial bay doors with dedicated office space and bathroom