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    Batavia Retail Spaces For Lease Title is generated by Realmo AI

    587 E Main St, Batavia, NY 14020

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    Retail spaces available in Aldi-anchored shopping center in Batavia, NY.

    Type:Retail
    Property size:
    9,700 SF
    Added:
    Mar 9, 2021
    Days on Market:
    1912
    Last Refresh:
    May 12 at 10:42 pm

    Property Features for 587 E Main St

    General Information

    Standard status
    Active
    Size
    9,700 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1955

    Spaces For Lease

    at 587 E Main St Contact us

    We can help!

    Listing Contact
    Joseph Jacobi, Jr.

    Listing agent Joseph Jacobi, Jr. License #NY 10401256164

    Listing office Donovan Real Estate Services

    Listing date Mar 9, 2021

    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 Donovan Real Estate Services

    HighLights

    • Aldi‑anchored shopping center, driving significant customer traffic.
    • Located at the intersection of two state roads (NY‑33 and NY‑5) with high traffic counts.
    • Available spaces range from 1,600 SF to 9,700 SF, accommodating various tenant sizes.
    • 9,700 SF space suitable for a junior anchor tenant, with ample parking and visibility.
    • Outparcel available for ground lease with frontage on Clinton Street.
    • Located in Batavia, NY, between Rochester and Buffalo, near Batavia Downs Gaming.

    Overview

    Available spaces in this Aldi-anchored shopping center range in size from 1,600 to 9,700 square feet. Located at the intersection of two state roads in Batavia, New York, the plaza benefits from strong traffic. The available spaces are in excellent condition. The 9,700 square foot space is suitable for a junior anchor tenant and offers ample parking and visibility. An outparcel with frontage on Clinton is available for ground lease. The plaza's tenants, including ALDI, Family Dollar, and McDonalds, contribute to strong customer traffic. Eastown Plaza is located in Batavia, the county seat of Genesee County, roughly equidistant between the Rochester and Buffalo MSAs in Western New York. Batavia is home to Batavia Downs Gaming, a half-mile harness horse racing track and casino with over 600 games. Eastown Plaza is ideally located at the corners of Clinton (NY-33) and East Main (NY-5). NY-33 and NY-5 are four-lane state highways that connect Batavia with the surrounding communities and provide strong traffic counts around the plaza.
    Location Intelligence

    Current Use by Public Records

    Medina Memorial Health ... Medical Clinic Genesee County Career ... County Government Office Lake Plains Dialysis Medical Clinic Employment Services Division Business Service Center Labor Department State Government Office

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Batavia
    County
    Genesee
    State
    New York
    Longitude
    -78.163422
    Latitude
    42.9962818

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    FAQs

    What type of property is this?
    Shopping center - Retail spaces available in Aldi-anchored shopping center in Batavia, NY.
    Where is this shopping center located?
    The property is located at 587 E Main St Batavia, NY.
    What are key features of this property?
    This property features: Aldi‑anchored shopping center, driving significant customer traffic.; Located at the intersection of two state roads (NY‑33 and NY‑5) with high traffic counts.; Available spaces range from 1,600 SF to 9,700 SF, accommodating various tenant sizes.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Joseph Jacobi, Jr.
    Real Estate License ID: NY 10401256164
    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.

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