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    9121 Alleghany Rd Corfu, NY 14036
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    9121 Alleghany Rd Corfu, NY 14036

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    • Commercial real estate
    • 14.20 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 9121 Alleghany Rd

    Lot size
    14.20 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 14.2-acre commercial parcel presents a unique investment opportunity in Corfu, NY. Strategically located just two miles south of the Pembroke New York State Thruway entrance, this property offers unparalleled access to major transportation routes, placing it within a convenient 30-minute radius of both Rochester and Buffalo. The level lot boasts 267 feet of frontage along the east side of Alleghany Road, situated between Main Street (Route 5) and Genesee Street (Route 33), ensuring high visibility and accessibility. Zoned for limited commercial use, this property is ready for development. An active gas well, complete with conveying rights, adds significant value to this already attractive offering. Essential utilities are readily available at the roadside, including electricity, telephone, cable/internet access, water, sewer, and natural gas, simplifying the development process. This property's prime location, ample acreage, and existing infrastructure make it an ideal site for a variety of commercial ventures. The property is also listed as residential land under a separate Multiple Listing Service number. This versatile parcel presents a compelling opportunity for businesses seeking a strategic location with excellent connectivity and substantial potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Corfu
    County
    Genesee
    State
    New York
    Longitude
    -78.4059
    Latitude
    42.9733

    Comparable in this City

    • Value Estimation by Request
      1.30 Acres

      Main St

      COMMERCIAL (GENERAL) • 1.30 Acres
      Main St, Corfu, NY 14036
      View Details
    • Value Estimation by Request
      3,936 SF

      8940 Alleghany Rd

      COMMERCIAL (GENERAL) • 3,936 SF
      8940 Alleghany Rd, Corfu, NY 14036-9702
      View Details
    • Value Estimation by Request
      1,296 SF

      1833 Genesee St

      SHOW ROOM, WAREHOUSE • 1,296 SF
      1833 Genesee St, Corfu, NY 14036-9699
      View Details
    • Value Estimation by Request
      576 SF

      1145 Main Rd

      COMMERCIAL (GENERAL) • 576 SF
      1145 Main Rd, Corfu, NY 14036-9755
      View Details
    • Value Estimation by Request
      2.20 Acres

      1241 Main Rd

      COMMERCIAL (GENERAL) • 2.20 Acres
      1241 Main Rd, Corfu, NY 14036-9756
      View Details
    • Value Estimation by Request
      268.00 Acres

      8650 Allegheny Rd

      Land • 268.00 Acres
      8650 Allegheny Rd, Corfu, NY 14036
      View Details

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    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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