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    Alleghany Rd Corfu, NY 14036

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    Alleghany Rd Corfu, NY 14036

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

    Current Use by Public Records

    • Land

    Property Details for 0 Alleghany Rd

    Lot size
    36.70 lot acres
    Property type
    Land

    Description

    This exceptional 36.7-acre parcel of land presents a unique opportunity in Genesee County, New York. Located on Alleghany Road (Highway 77), this residentially zoned property boasts a prime location, offering convenient access to essential utilities. Its strategic position is directly across the street from the Darien Lake Amusement Park, campground, hotel, and concert venue, providing unparalleled proximity to entertainment and amenities. The land itself features a diverse landscape, including fields, streams, and wooded areas, creating a tranquil and scenic setting ideal for those seeking a peaceful retreat or a custom home building project. The property's size and zoning allow for potential subdivision, making it an attractive investment for developers or those looking to create multiple residential lots. With its combination of convenient location, natural beauty, and residential zoning, this property offers a rare blend of accessibility and seclusion. The APN is 1832898-1-10.13. The asking price is $210,000. This is a remarkable opportunity to own a substantial piece of land in a desirable location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Corfu
    County
    Genesee
    State
    New York
    Longitude
    -78.391
    Latitude
    42.9266

    Comparable in this City

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      268.00 Acres

      8650 Allegheny Rd

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      1,456 SF

      66 Main St

      MOBILE HOME PARK, TRAILER PARK • 1,456 SF
      66 Main St, Corfu, NY 14036-9309
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      980 SF

      1516 Sumner Rd

      CAMPGROUND, RV PARK • 980 SF
      1516 Sumner Rd, Corfu, NY 14036
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      400 SF

      8427 Lk Rd

      MOBILE HOME PARK, TRAILER PARK • 400 SF
      8427 Lk Rd, Corfu, NY 14036-9744
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    • Value Estimation by Request
      176 SF

      1302 Phelps Rd

      MOBILE HOME PARK, TRAILER PARK • 176 SF
      1302 Phelps Rd, Corfu, NY 14036-9746
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    • Value Estimation by Request
      0.14 Acres

      Main St

      VACANT COMMERCIAL LAND • 0.14 Acres
      Main St, Corfu, NY 14036
      View Details

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    • Contact for pricing

      210 Acre Development Site

      210-acre development site in Genesee County, central Western New York.
      8570 Alleghany Rd, Corfu, NY 14036
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      36.7 Acre Tranquil Retreat Land

      36.7 acres of land near Darien Lake Amusement Park.
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      Buildable Land in Corfu, NY

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      270+ Acres Interchange Zoned Land

      270+ acres of Interchange zoned land near NYS Thruway.
      8650 Allegheny Rd, Corfu, NY 14036
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    Alleghany Rd
    Corfu, NY 14036
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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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