Triplex with Two Driveway
For Sale
$499,900
Pending
7185 W Main Road, Leroy, NY 14482
COMMERCIAL - Le Roy, NY
Property Size2,028 SF
Lot Size16.10 Acres
Days on Market499
Property Features for 7185 W Main Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CON
Zoning description
Commercial
Parking
6
Lot features
Irregular Lot
Elementary school district
LeRoy
Middle school district
LeRoy
High school district
LeRoy
Directions
Starting from Route 36 to west on W. Main Road. Property is located on the north side of the road, just past Tops and diner.
Subdivision
LeRoy-183689
Standard status
Pending
APN
183689-024-000-0001-026-000
Size
2,028 SF
Lot size
16.10 Acres
Taxes and HOA fees
Tax Annual Amount
7365
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas, Forced Air
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
3
Building materials
Frame
Roof type
Asphalt, Metal
Listing Agency:
RE/MAX Realty Group · RE/MAX International
(585) 248-0250
Listed By:
Deborah S. Campanella · License #30CA1055473
(585) 746-1920
Added: Apr 5, 2025
Changed: Aug 13
Last Checked: Aug 16 at 4:06PM
MLS# R1597830
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.
Triplex property on 7185 W Main Road in Le Roy, NY, currently configured as a duplex plus a garage apartment for a total of 3 rentals, with tenants in place. The building is frame construction and was built in 1900. Heating is natural gas with forced-air systems. The roof consists of asphalt and metal. Water service is public, and sewer is provided via a septic tank.
The offering includes two parcels with a total lot size of 16.1 acres, including 12.6 acres adjacent to the property and identified by TAX ID 18360-002-000. The site has two existing driveway cuts and includes part of the parcel situated within Village limits where the sewer line ends.
The commercial/light industrial/mixed-use character of the property is supported by the described surrounding retail and service uses, creating a practical development setting for future redevelopment.
The offering includes two parcels with a total lot size of 16.1 acres, including 12.6 acres adjacent to the property and identified by TAX ID 18360-002-000. The site has two existing driveway cuts and includes part of the parcel situated within Village limits where the sewer line ends.
The commercial/light industrial/mixed-use character of the property is supported by the described surrounding retail and service uses, creating a practical development setting for future redevelopment.
Key Highlights
- 16.1‑acre lot with an additional 12.6‑acre adjacent parcel (TAX ID 18360‑002‑000)
- Two existing driveway cuts
- 3 rentals: duplex plus garage apartment; tenant occupied
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
$18,623
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
3.73%
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%
$372,460
$372.5K
Cap Rate 7%
$266,043
$266.0K
Cap Rate 9%
$206,922
$206.9K
Market Conditions
NOI Build-Up for 2,028 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
$28.0K $13.80/SF
− Vacancy
−$1.4K −$0.68/SF
EGI
$26.6K $13.12/SF
− OpEx
−$8.0K −$3.94/SF
NOI
$18.6K $9.18/SF
Area
Genesee County, NY
Vacancy
4.94%
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%
$372,460
Cap Rate 7%
$266,043
Cap Rate 9%
$206,922
Alternative Uses
Best Use
Multifamily LT 5
$266.0K
$232.8K – $310.4K
NOI $18,623 @ 7.0% cap · market cap 3.73%
Second Best
Apartment 5plus
$232.0K
$203.0K – $270.7K
NOI $16,242 @ 7.0% cap · market cap 3.25%
Theoretical Best
Warehouse
$1.88M
$1.65M – $2.20M
NOI $131,767 @ 7.0% cap · market cap 26.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
158
Businesses Nearby
Explore this area
Business Placement
Demographics for 14482, NY
8,365
Population
3,889
Households
2.2
Avg Household Size
43
Median Age
28%
College-Educated
96%
High-School Grad
60.9 sq mi
ZIP Area
137
Density / Sq Mi
$77,581
Median Household Income
$46,111
Median Earnings
$944
Median Rent
$159,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Triplex on 16.1 acres with two driveway cuts and public water; currently tenant occupied with natural gas forced-air heat.
Where is this triplex located?
The property is located at 7185 W Main Road Leroy, NY.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 16.1‑acre lot with an additional 12.6‑acre adjacent parcel (TAX ID 18360‑002‑000); Two existing driveway cuts; 3 rentals: duplex plus garage apartment; tenant occupied
