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    291-389 Hamilton St Geneva, NY 14456

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    291-389 Hamilton St Geneva, NY 14456

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    • Lifestyle centers
    • 180,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 291-389 Hamilton St

    Property size
    180,000 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional retail opportunity presents 180,000 square feet of prime commercial space within the Geneva Shopping Center, located at 291-389 Hamilton Street, Geneva, NY 14456. Situated in Ontario County, this multi-tenant shopping center offers a range of space options, perfect for businesses seeking high visibility and convenient access. Seven spaces are currently available, with sizes ranging from a minimum of 4,216 square feet to a maximum contiguous space of 37,567 square feet. A significant portion of the center is currently vacant, totaling 101,594 square feet, presenting a unique chance for expansion or new tenancy. The property is zoned commercial, ensuring flexibility for a variety of retail uses. The center's strategic location in Geneva, New York provides excellent exposure to a substantial customer base. This is an ideal opportunity for businesses looking to establish or expand their presence in a thriving retail market. The property's substantial size and flexible space options make it suitable for a wide range of retail concepts, from smaller boutiques to larger flagship stores. With its prime location and ample space, this property offers significant potential for growth and profitability. Interested parties should inquire about available spaces and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Geneva
    County
    Ontario
    State
    New York
    Longitude
    -76.9992
    Latitude
    42.8574

    Comparable in this City

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      $620,000
      79,000 SF

      1 Montmorency Way

      MINI-MALL • 79,000 SF
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    • Value Estimation
      $1,730,000
      92,768 SF

      785-795 Rte 5th 20

      MINI-MALL • 92,768 SF
      785-795 Rte 5th 20, Geneva, NY 14456
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    • Value Estimation
      $1,535,000
      154,122 SF

      990 State Rte 5th And 20

      MINI-MALL • 154,122 SF
      990 State Rte 5th And 20, Geneva, NY 14456-9543
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    • Value Estimation by Request
      21,294 SF

      885 Pre Emption Rd

      MINI-MALL • 21,294 SF
      885 Pre Emption Rd, Geneva, NY 14456-2042
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    • Value Estimation by Request
      11,970 SF

      999 State Rte 5th And 20

      MINI-MALL • 11,970 SF
      999 State Rte 5th And 20, Geneva, NY 14456-9543
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    • Value Estimation by Request
      11,144 SF

      1 White Spgs Rd

      SHOPPING CENTER, STRIP CENTER • 11,144 SF
      1 White Spgs Rd, Geneva, NY 14456-3061
      View Details

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      Geneva Retail Space For Lease

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    291-389 Hamilton St
    Geneva, NY 14456
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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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    291-389 Hamilton St, Geneva, NY, 14456

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