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    1671 Mount Hope Ave Rochester, NY 14620

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    1671 Mount Hope Ave Rochester, NY 14620

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    • Specialty properties
    • 800 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
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    Current Use by Public Records

    • Specialty properties

    Property Details for 1671 Mount Hope Ave

    Property size
    800 SF
    Property type
    Specialty properties
    Property subtype
    Banks

    Description

    This exceptional commercial property, located at 1671 Mt. Hope Ave, Rochester, NY 14620, presents a unique investment opportunity. Situated in the University of Rochester - Stong Memorial Hospital submarket within the Mt. Hope cluster, this single-tenant space offers 800 square feet dedicated to an ATM or kiosk operation. A key feature is the inclusion of a dedicated drive-thru lane, ensuring convenient access for customers. The property is zoned commercial and is conveniently located near the intersection of Mt. Hope Ave and Shelbourne. While the listed square footage is approximate and requires verification, the property is available for lease independently. Note that an adjacent bank space (3857 sq ft) is available separately and features amenities such as a kitchenette, backroom, file/computer room, and utility room. The rental rate for this ATM pad is not calculated on a per-square-foot basis. This property is ideal for financial institutions or businesses seeking a high-traffic location with excellent visibility. Interested parties should conduct their own due diligence to confirm square footage and other relevant details.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.6219
    Latitude
    43.1176

    Comparable in this City

    • Value Estimation by Request
      32,000 SF

      1671 Mount Hope Ave

      Specialty properties • 32,000 SF
      1671 Mount Hope Ave, Rochester, NY 14620
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    • Value Estimation by Request
      1.00 Acre

      1201 Elmwood Ave

      Office Units • 1.00 Acre
      1201 Elmwood Ave, Rochester, NY 14620
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      4,500 SF

      395 Westfall Rd

      FINANCIAL BUILDING • 4,500 SF
      395 Westfall Rd, Rochester, NY 14620-4603
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    • Value Estimation by Request
      3,088 SF

      1477-1481 Mt Hope Ave

      FINANCIAL BUILDING • 3,088 SF
      1477-1481 Mt Hope Ave, Rochester, NY 14620
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    • Value Estimation by Request
      4,920 SF

      1619 Mt Hope Ave

      FINANCIAL BUILDING • 4,920 SF
      1619 Mt Hope Ave, Rochester, NY 14620
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    • Value Estimation by Request
      3,168 SF

      1475 Mt Hope Ave

      FINANCIAL BUILDING • 3,168 SF
      1475 Mt Hope Ave, Rochester, NY 14620-4217
      View Details

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    Rochester, NY 14620
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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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