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    1245 Commercial Dr Farmington, NY 14425

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    1245 Commercial Dr Farmington, NY 14425

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

    Current Use by Public Records

    • Land

    Property Details for 1245 Commercial Dr

    Lot size
    1.08 lot acres
    Property type
    Land

    Description

    This exceptional 1.077-acre commercial lot is ideally situated on Commercial Drive in Farmington, New York, offering a prime opportunity for development. Priced at $175,000, this parcel presents a unique chance to build to suit your specific business needs. The lot is conveniently located off Route 96, providing easy access to major transportation arteries. It's just one mile from NYS Thruway exit 44 and less than a quarter-mile from the intersection of State Route 332, ensuring excellent connectivity for your business. The property boasts preliminary approval for a building up to 8,400 square feet, making it perfect for a variety of office or service-based businesses. The location also offers proximity to the Village of Victor, just four miles away, providing access to additional amenities and a thriving community. This lot, designated as Lot 4 on the rendering, represents a rare opportunity to establish a strong presence in a desirable commercial area. Don't miss this chance to secure a strategic location for your next venture. The property is ready for immediate development.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Farmington
    County
    Ontario
    State
    New York
    Longitude
    -77.3526
    Latitude
    42.9753

    Comparable in this City

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      1255 Commercial Dr

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      1255 Commercial Dr, Farmington, NY 14425
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      18.00 Acres

      1200 State Rte 332 / Cmns

      Land • 18.00 Acres
      1200 State Rte 332 / Cmns, Farmington, NY 14425
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      1265 Commercial Dr

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      1265 Commercial Dr, Farmington, NY 14425
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      1.65 Acres

      1347 Hathaway Dr

      Land • 1.65 Acres
      1347 Hathaway Dr, Farmington, NY 14425
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      1.12 Acres

      1235 Commercial Dr

      Land • 1.12 Acres
      1235 Commercial Dr, Farmington, NY 14425
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      1.65 Acres

      Hathaway Dr

      Land • 1.65 Acres
      0 Hathaway Dr, Farmington, NY 14425
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    Similar Nearby for Sale

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      Land For Sale Farmington, NY

      Land available for sale in Farmington, New York.
      13 State Route 332, Farmington, NY 14425
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      5,500 SF

      Commercial Lot Build to Suit

      Commercial Drive lot available for sale or lease.
      1220 Commercial Dr, Farmington, NY 14425
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    • Contact for pricing

      Commercial Lot on Commercial Drive

      Corner lot available for sale, build to suit opportunity.
      1265 Commercial Dr, Farmington, NY 14425
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    Similar Nearby for Lease

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      Commercial Land Pad Sites Available

      Two potential pad sites for rent with customized space.
      1622 Rochester Rd, Farmington, NY 14425
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    • $6,000 /Mo
      8,934 SF

      Unique Event and Food Venue

      Fully built-out venue suitable for events, dining, and hospitality.
      6108 Loomis Rd, Farmington, NY 14425
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      Retail Space Near Major Intersection

      Retail spaces available in a shopping center anchored by Tops.
      6179 96, Farmington, NY 14425
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      Restaurant/Event Space Near Canandaigua

      Restaurant/event space with flexible venues near Canandaigua and Victor.
      6108 Loomis Rd, Farmington, NY 14425
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    Farmington, NY 14425
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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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