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    237 Ny-31 Macedon, NY 14502
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    237 Ny-31, Macedon, NY 14502

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    • Land
    • 4.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 237 Ny-31

    Lot size
    4.00 lot acres
    Property type
    Land
    Property subtype
    Industrial properties

    Description

    This exceptional 4-acre commercial and industrial land parcel presents a remarkable investment opportunity in Macedon, New York. Located on Macedon Parkway at Route 31, this strategically positioned property boasts high visibility and accessibility, with convenient access from Lowe's east side entrance. The site benefits from significant daily traffic volume, with over 17,643 vehicles traversing Route 31 daily. Zoned for General Commercial use, the property allows for a diverse range of development options, including retail, hotel, self-storage, and mixed-use residential projects. Utilities are readily available on-site, and prominent pylon signage opportunities exist along Route 31, maximizing marketing potential. The thriving community and robust trade area further enhance the property's appeal. Nearby established businesses include Walmart, Lowe's, Caliber Collision, GO Car Wash, Microtel by Wyndham, KFC, Taco Bell, and new multi-family residential developments, creating a strong foundation for future growth and success. The asking price for this prime development site is $620,000. This is a rare chance to acquire a well-located, versatile property in a rapidly growing market.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Macedon
    County
    Wayne
    State
    New York
    Longitude
    -77.3666
    Latitude
    43.0656

    Comparable in this City

    • Value Estimation
      $2,265,000
      42,685 SF

      1688 Wayneport Rd

      INDUSTRIAL (GENERAL)
      1688 Wayneport Rd, Macedon, NY 14502-8765
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    • Value Estimation by Request
      37,345 SF

      1071 State Rte 31

      INDUSTRIAL (GENERAL)
      1071 State Rte 31, Macedon, NY 14502-9156
      View Details
    • Value Estimation
      $1,600,000
      30,500 SF

      1704 Wayneport Rd

      INDUSTRIAL (GENERAL)
      1704 Wayneport Rd, Macedon, NY 14502-9181
      View Details
    • Value Estimation
      $1,225,000
      19,850 SF

      1604 Wayneport Rd

      INDUSTRIAL (GENERAL)
      1604 Wayneport Rd, Macedon, NY 14502-9110
      View Details
    • Value Estimation
      $1,225,000
      18,938 SF

      2052 1st Rd

      INDUSTRIAL (GENERAL)
      2052 1st Rd, Macedon, NY 14502-8953
      View Details
    • Value Estimation
      $1,055,000
      20,235 SF

      1610 Cmns Pkwy

      INDUSTRIAL (GENERAL)
      1610 Cmns Pkwy, Macedon, NY 14502-9190
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      123,000 SF

      Modern Industrial and Sports Facility

      123,000 SF mixed-use facility built in 2016.
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      Macedon Parkway Land Opportunity

      4 +/- acres on Macedon Parkway near Route 31.
      235 Ny-31, Macedon, NY 14502
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    • $156,000
      25.80 Acres

      Macedon Active Farmland For Sale

      25 acres of tillable farmland with utilities available.
      Victor Rd, Macedon, NY 14502
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    Similar Nearby for Lease

    • $1,000 /Mo
      219,107 SF

      Macedon Commercial Storage Space Available

      Unheated inside storage and outside storage space for lease.
      2095 Imperial Dr, Macedon, NY 14502
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    • Contact for pricing

      Commercial Land Near Super Walmart

      Shadow strip center location near Pittsford and Fairport.
      515 Sampson Dr, Macedon, NY 14502
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    • $2,200 /Mo

      Turnkey Commercial Shop for Rent

      1,800 SF commercial shop equipped for automotive or manufacturing.
      614 Frey Rd, Macedon, NY 14502
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    • Contact for pricing
      1,600 SF

      Retail Space Near Super Walmart

      Retail space available in shadow strip center near Super Walmart.
      515 Sampson Dr, Macedon, NY 14502
      View Details
    • New
      $2,200 /Mo
      4,154 SF

      Turnkey Commercial Shop in Macedon

      Versatile 1,800 SF shop ready for immediate occupancy.
      614 Frey Rd, Macedon, NY 14502
      View Details
    • Contact for pricing
      1,260 SF

      Versatile Retail/Office Space Available

      Retail/office space in growing commercial corridor with on-site parking.
      1146 Pittsford Palmyra Rd, Macedon, NY 14502
      View Details
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    237 Ny-31
    Macedon, NY 14502
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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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