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    316 West Ave Albion, NY 14411
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    316 West Ave, Albion, NY 14411

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    • Lifestyle centers
    • 74,252 SF
    • 15.40 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 316 West Ave

    Year built
    1971
    Lot size
    15.40 lot acres
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional investment opportunity presents a 74,252-square-foot shopping center in Albion, New York. Built in 1971, this single-story, Class B property sits on a 15.4-acre lot and features five retail units, currently 75% occupied. The center boasts a strong tenant roster including Save-A-Lot, Albion Pro Hardware, Dollar Tree, and Napa Auto Parts, establishing it as a vital community hub. Two spaces are currently available, one measuring approximately 16,678 square feet and the other around 16,500 square feet, offering significant expansion potential. Located on West Ave with 492 feet of road frontage on Route 31, the property benefits from high visibility and ample parking (787 spaces). The asking price is $2,000,000, translating to $26.94 per square foot. The property's commercial zoning allows for diverse business uses, and its established history provides a solid foundation for long-term investment and lease stability. Its proximity to the village of Albion and the NYSDOC Orleans Correctional Facility further enhances its strategic location and potential for consistent customer traffic. This is a rare opportunity to acquire a well-established, multi-tenant retail center in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Albion
    County
    Orleans
    State
    New York
    Longitude
    -78.2025
    Latitude
    43.2399

    Comparable in this City

    • Value Estimation
      $17,800,000
      155,000 SF

      13858 State Rte 31

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      13858 State Rte 31, Albion, NY 14411-9362
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    • Value Estimation
      $1,395,000
      10,380 SF

      175 Main St

      MINI-MALL
      175 Main St, Albion, NY 14411-1630
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    • Value Estimation
      $1,750,000
      13,997 SF

      10 Ee Ave

      MINI-MALL
      10 Ee Ave, Albion, NY 14411-1613
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    • Value Estimation
      $8,665,000
      74,252 SF

      318 Ww Ave

      MINI-MALL
      318 Ww Ave, Albion, NY 14411-1523
      View Details
    • Value Estimation
      $1,620,000
      12,480 SF

      146 Main St

      SHOPPING CENTER, STRIP CENTER
      146 Main St, Albion, NY 14411-1601
      View Details
    • Value Estimation by Request
      2,800 SF

      2120 Eagle Hbr Waterport Rd

      RETAIL STORES (PERSONAL SERVICES)
      2120 Eagle Hbr Waterport Rd, Albion, NY 14411-9048
      View Details

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      3,600 SF

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      74,252 SF

      Albion Shopping Center Retail Spaces

      Retail spaces for sale or lease in busy Albion plaza.
      316 West Ave, Albion, NY 14411
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      Pending

      Automotive Repair Facility For Sale

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    Similar Nearby for Lease

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      16,678 SF

      Retail Property in Albion, NY

      Retail property with leasing opportunities in Albion, NY.
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      3,000 SF

      Warehouse Space with Loading Docks

      3000+ sq ft warehouse with loading docks and parking.
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    • $795 /Mo
      12,540 SF

      Versatile Office Space in Albion

      First-floor office space in Albion's Main Street Business District.
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      64,100 SF

      Warehouse Space Available For Rent

      Warehouse space available for rent, from 1,000 to 64,000 SF.
      151 S Platt St, Albion, NY 14411
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    Albion, NY 14411
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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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