Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Prime Medical Office Development Site Title is generated by Realmo AI

    Bellwood Dr at I-390 & Ridgeway Ave, Rochester, NY 14615

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Proposed medical office building site with high visibility and accessibility.

    Type:Retail, Office, Mixed Use, Land
    Property size:
    54,000 SF
    Lot size:
    7.30 Acres
    Added:
    Jan 31, 2019
    Days on Market:
    2681
    Last Refresh:
    May 19 at 8:34 pm

    Property Features for Bellwood Dr at I-390 & Ridgeway Ave

    General Information

    Standard status
    Active
    Size
    54,000 SF
    Lot size
    7.30 Acres
    Property subtype
    Retail, Office, Mixed Use, Land

    Building Details

    Year Built
    2020

    We can help!

    Listing Contact
    Joseph A. Fiorie

    Listing agent Joseph A. Fiorie License #NY 35FI1030779

    Listing office J. Fiorie & Co

    Listing date Jan 31, 2019

    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 J. Fiorie & Co

    HighLights

    • High Visibility: Great exposure to I‑390 with 77,008 cars passing daily.
    • Strategic Location: Located at the I‑390 exit/entrance ramp at Ridgeway Ave.
    • Proximity to Key Amenities: Only 1.5 miles from Rochester Regional Health Unity Hospital and 5.3 miles from the Greater Rochester International Airport.
    • Proposed Customizable Medical Building: 54,000 ±SF, 2‑story building designed to tenant specifications, ADA accessible & Article 28 compliant.
    • Adjacent to Established Businesses: Fronts 1 Million ±Square feet of white collar office space and near 5 Million ±Square feet of Industrial/manufacturing space.
    • New Hotel: Adjacent to the newly opened Woodspring Hotel (122 rooms).

    Overview

    Located at the exit/entrance ramp of I-390 at Ridgeway Ave, Canal Ponds Commons offers great exposure to I-390. The location is approximately 1.5 miles from Rochester Regional Health Unity Hospital and 5.3 miles from the Greater Rochester International Airport. The site benefits from high visibility, with 77,008 cars passing the location daily on I-390. A proposed 54,000 ±SF, 2-story medical building is planned for the site, designed to tenant specifications and potentially ADA accessible and Article 28 compliant. The development site encompasses 7.3 ± acres in total. Canal Ponds Commons is located near 1 million ± square feet of white-collar office space, including QuidelOrtho, LeChase, Summit FCU, and UR Wilmot Cancer Center. Additionally, there is approximately 5 million ± square feet of industrial/manufacturing space on the east side of I-390, directly across from the site. An extended-stay Woodspring Hotel with 122 rooms has recently opened at Canal Ponds Commons, adjacent to this site. The proposed medical office will occupy 5.4 ± acres, with 1.7 ± acres designated for future development.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Map

    City
    Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.6546
    Latitude
    43.2055

    Nearby Similar for Sale

    • $1,100,000
      9,280 SF

      Brewery in LaSalle's Landing District

      Commercial property with restaurant potential and outdoor beer garden.
      1221 Empire Boulevard, Rochester, NY 14609
      View Details
    • $525,000
      3,645 SF

      Retail and Office Building

      Versatile retail and office building with a smaller rear shop space in Village Center Business zoning.
      8 High Street, Rochester, NY 14564
      View Details
    • $499,999
      13,300 SF

      Climate Controlled Self-Storage Facility

      Premier Rochester self-storage facility with climate-controlled units and robust client base.
      169 Flanders Street, Rochester, NY 14619
      View Details
    • $899,900
      11,624 SF

      Free-Standing Building in Henrietta

      Commercial building with flexible layout and great parking in Rochester.
      1567 E Henrietta Road, Rochester, NY 14623
      View Details
    • $649,900
      3,740 SF

      Rochester Restaurant Opportunity For Sale

      Long-standing Rochester restaurant with land, building, and furnishings.
      559 E Ridge Road, Rochester, NY 14621
      View Details
    • $1,900,000
      19,401 SF

      Rochester Multifamily Investment Opportunity

      Solid brick building with high annual gross income.
      312 Lake Avenue, Rochester, NY 14608
      View Details
    • $324,900
      2,280 SF

      Converted Residential Office Building

      Flexible converted-residential layout with private rooms, patio, and off-street parking for client-facing businesses.
      70 Cooper Road, Rochester, NY 14617
      View Details
    • $270,000
      3,027 SF

      Prime Mixed-Use Redevelopment Opportunity

      Mixed-use property in Rochester's vibrant Pearl-Meigs-Monroe corridor.
      606 Monroe Avenue, Rochester, NY 14607
      View Details
    • $265,000
      16,586 SF

      Historic Rochester Building Redevelopment Opportunity

      16,586 SF building in downtown Rochester, prime for redevelopment.
      159 Alexander Street, Rochester, NY 14607
      View Details
    • $299,000
      1,657 SF

      Freestanding Business Building For Sale

      Turnkey, highly visible building with ample parking and renovated features.
      4105 W Henrietta Road, Rochester, NY 14623
      View Details
    • $325,000
      3,600 SF

      Southwedge Retail Services Building

      Retail and distribution space in Rochester's Southwedge neighborhood.
      754 S Clinton Avenue S, Rochester, NY 14620
      View Details
    • $350,000
      5,400 SF

      Cash-Flowing Four-Family Residential Building

      Fully occupied, updated 4-unit building in Beechwood neighborhood.
      119 Rosewood Terrace, Rochester, NY 14609
      View Details

    FAQs

    What type of property is this?
    Commercial land - Proposed medical office building site with high visibility and accessibility.
    Where is this commercial land located?
    The property is located at Bellwood Dr at I-390 & Ridgeway Ave Rochester, NY.
    What are key features of this property?
    This property features: High Visibility: Great exposure to I‑390 with 77,008 cars passing daily.; Strategic Location: Located at the I‑390 exit/entrance ramp at Ridgeway Ave.; Proximity to Key Amenities: Only 1.5 miles from Rochester Regional Health Unity Hospital and 5.3 miles from the Greater Rochester International Airport.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Joseph A. Fiorie
    Real Estate License ID: NY 35FI1030779
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Bellwood Dr at I-390 & Ridgeway Ave, Rochester, NY 14615
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!