Automotive Repair Shop with
New
For Sale
$650,000
688 Frey Road, Macedon, NY 14502
Established repair operation with shop space, office, mezzanine storage, and current motor vehicle inspection-station use.
Property Size3,456 SF
Lot Size1.57 Acres
Price / SF$188.08
Days on Market5
Property Features for 688 Frey Road
General Information
Standard status
Active
Size
3,456 SF
Total Parking Spaces
35
Lot size
1.57 Acres
Property subtype
Business
Additional Details
Business Included
Yes
Service Bays
5
Taxes and HOA fees
Annual Taxes
$3,750
Amenities
office space
bathroom with shower
mezzanine storage
two overhead doors
Building Details
Building Size
3,456 SF
Year Built
1991
Buildings
1
Construction
metal
Listing Agency:
Passero Realty Services, LLC
(585) 315-8161
Listed By:
Christopher J. Passero · License #10491202774
(585) 315-8161
Source:
Griffith-realty
Added: Aug 28
Changed: Aug 31
Last Checked: Aug 31 at 9:34PM
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 Passero Realty Services, LLC
Investment Insights
Based on property information with market context.
This automotive repair property combines an operating business with a 3,456-square-foot metal shop facility on approximately 1.57 acres. The building includes dedicated office space, a bathroom with shower, repair bays, and mezzanine storage. Five automotive lifts support vehicle service operations, while overhead doors measuring approximately 14' x 14' and 14' x 10' provide shop access. The offering includes the real estate, equipment, and business assets associated with the operation.
Located at 688 Frey Road in Macedon, New York, the property provides approximately 35 parking spaces for customer and vehicle use. The business currently operates as a NYS motor vehicle inspection station, subject to applicable licensing and approval requirements. The facility was built in 1991, and the established operation is being transferred with its existing clientele and customer following.
Located at 688 Frey Road in Macedon, New York, the property provides approximately 35 parking spaces for customer and vehicle use. The business currently operates as a NYS motor vehicle inspection station, subject to applicable licensing and approval requirements. The facility was built in 1991, and the established operation is being transferred with its existing clientele and customer following.
Key Highlights
- 3,456 SF metal warehouse/shop facility on approximately 1.57 acres
- Five automotive lifts included with the operating business and real estate
- Two overhead doors measuring approximately 14' x 14' and 14' x 10'
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
$34,764
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
5.35%
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%
$695,280
$695.3K
Cap Rate 7%
$496,629
$496.6K
Cap Rate 9%
$386,267
$386.3K
Market Conditions
NOI Build-Up for 3,456 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
$51.8K $15.00/SF
− Vacancy
−$2.2K −$0.63/SF
EGI
$49.7K $14.37/SF
− OpEx
−$14.9K −$4.31/SF
NOI
$34.8K $10.06/SF
Area
Wayne County, NY
Vacancy
4.20%
Lease Rate
$15.00 /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%
$695,280
Cap Rate 7%
$496,629
Cap Rate 9%
$386,267
Alternative Uses
Best Use
Retail
$496.6K
$434.6K – $579.4K
NOI $34,764 @ 7.0% cap · market cap 5.35%
Second Best
Warehouse
$370.8K
$324.4K – $432.6K
NOI $25,955 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$931.0K
$814.6K – $1.09M
NOI $65,169 @ 7.0% cap · market cap 10.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Service bays
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
40
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14502, NY
10,760
Population
4,769
Households
2.3
Avg Household Size
43
Median Age
41%
College-Educated
94%
High-School Grad
35.8 sq mi
ZIP Area
301
Density / Sq Mi
$83,224
Median Household Income
$57,038
Median Earnings
$999
Median Rent
$219,200
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- LaMarti's Auto and Diesel Repair — 665 Macedon Center Rd, Macedon, NY 14502
- Transmission Clinic - Macedon / Penfield — 665 macedon center rd, rochester, ny 14625
- J T's Drive-In Car Shop — 688 Frey Rd, Macedon, NY 14502
Frequently Asked Questions
What type of property is this?
Auto shop - Established repair operation with shop space, office, mezzanine storage, and current motor vehicle inspection-station use.
Where is this auto shop located?
The property is located at 688 Frey Road Macedon, NY.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 3,456 SF metal warehouse/shop facility on approximately 1.57 acres; Five automotive lifts included with the operating business and real estate; Two overhead doors measuring approximately 14' x 14' and 14' x 10'
