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    1 Boon Dr North Chili, NY 14514

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    Industrial buildings in North Chili with flexible space and storage.

    Type:Industrial
    Property size:
    26,091 SF
    Added:
    Aug 24, 2024
    Days on Market:
    599
    Last Refresh:
    Mar 17 at 1:22 pm

    Property Features for 1 Boon Dr

    General Information

    Standard status
    Active
    Size
    26,091 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    1971

    Spaces For Lease

    at 1 Boon Dr Contact us

    1st Floor $17 /Mo

    Size
    Type
    Industrial
    Contact us

    We can help!

    Listing Contact
    Evan Schaefer
    Evan Schaefer

    Listing agent Evan Schaefer License #NY 10301221499

    Listing office Benchmark Realty Advisors, LLC

    Listing date Aug 24, 2024

    Source Crexi

    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 Benchmark Realty Advisors, LLC

    Overview

    Versatile Industrial Buildings with Yard

    Located just off the I-490 expressway in North Chili, 1 Boon Drive features two industrial buildings totaling 26,091 square feet. One building measures 11,885 square feet, and the other measures 14,206 square feet. The property includes a secure fenced yard suitable for outdoor storage or fleet parking. The layout offers flexibility, as the spaces can be demised to accommodate users as small as 627 square feet. There are two bay spaces available in the main building, each measuring 1,400 square feet, with 14-foot grade doors and 19-foot ceilings. Abundant yard storage is available, including an approximately 11,000 square foot quonset mineral storage shed. The property provides immediate highway access, drive-in access, and potential dock access. High ceilings and adaptable floor plans are featured. The fenced yard offers added security for equipment, vehicles, or material storage. The location ensures connectivity to Rochester and the surrounding region. The site is secured and accessible 24/7. These buildings present a leasing opportunity for industrial, light manufacturing, service, or warehouse users.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Boon Self Storage Storage Facility

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Hotel & Motel Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Chili Self Storage — 57 King Rd, Churchville, NY 14428
    • Boon Self Storage — 1 Boon Dr, North Chili, NY 14514

    Location Insight

    • Map
    • Local Demand
    City
    North Chili
    County
    Monroe
    State
    New York
    Longitude
    -77.8052
    Latitude
    43.1199

    FAQs

    What type of property is this?
    Warehouse - Industrial buildings in North Chili with flexible space and storage.
    Where is this warehouse located?
    The property is located at 1 Boon Dr North Chili, NY.
    What are key features of this property?
    This property features: Strategic location with immediate I‑490 access for efficient distribution and connectivity to Rochester and surrounding areas.; Flexible space configurations, divisible to accommodate users as small as 627 SF, suitable for various business sizes.; Secure, fenced yard ideal for outdoor storage, fleet parking, or material storage.
    (585) 337-1764 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Evan Schaefer
    Evan Schaefer
    Real Estate License ID: NY 10301221499
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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