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    Property profile & analytics

    1118 Long Pond Rd Greece, NY 14626

    • Specialty properties
    • 6,110 SF
    • 4.00 lot acres
    For Sale
    View listing
    $1,200,000
    Last Sale
    Nov 23, 2020
    $600,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2925150
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Specialty properties

    Property Details for 1118 Long Pond Rd

    Year built
    1983
    Lot size
    4.00 lot acres
    Property size
    6,110 SF
    Zone code
    05 - COMMERCIAL
    Property type
    Specialty properties
    APN
    262800 074.06-2-10
    APU
    26280007406210

    Description

    This exceptional 9,000 square foot property, located at 1118 Long Pond Road in Greece, NY, presents a unique investment opportunity. Previously used as a funeral home, the building has undergone a complete renovation and update. Currently zoned R1-E (single-family residential), it offers significant potential for repurposing. Ideal uses could include a church, spa, medical facility, or office space, subject to necessary rezoning. The property boasts a substantial oversized detached garage and sits on a generous 4-acre lot, providing ample space for expansion or additional development. Deed restrictions prohibit the use of the property as a funeral home or cremation facility. The site currently features 102 striped parking spaces, a significant asset for any commercial venture. Security is enhanced by existing video surveillance and recording devices. Owner financing is available, making this an attractive proposition for qualified buyers. This property offers a rare combination of size, location, and potential, making it an exceptional investment opportunity in a desirable area. The extensive parking and large lot size provide significant flexibility for future development. Serious inquiries are encouraged.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $555,000
      ML approach
      $535,000

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $665,000
      AUTO REPAIR, GARAGE
      $605,000
      RESTAURANT
      $535,000
      MEDICAL BUILDING
      $340,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.6955
    Latitude
    43.2215
    CBSA code
    40380
    CBSA name
    ROCHESTER, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $117,000
    $467,200
    $584,200
    -
    $136,046
    $543,256
    $679,302

    Comparable in this City

    • Value Estimation
      $210,000
      3,520 SF

      4200 Rdg Rd

      VETERINARY, ANIMAL HOSPITAL • 3,520 SF
      4200 Rdg Rd, Rochester, NY 14626-3530
      View Details
    • Value Estimation
      $290,000
      13,747 SF

      1411 Vintage Ln

      FUNERAL HOME • 13,747 SF
      1411 Vintage Ln, Rochester, NY 14626-1700
      View Details
    • Value Estimation
      $305,000
      6,350 SF

      1075 Long Pond Rd

      FUNERAL HOME • 6,350 SF
      1075 Long Pond Rd, Rochester, NY 14626-1121
      View Details
    • Value Estimation
      $220,000
      4,455 SF

      2636 Ridgeway Ave

      FUNERAL HOME • 4,455 SF
      2636 Ridgeway Ave, Rochester, NY 14626-4209
      View Details
    • Value Estimation by Request
      22.09 Acres

      1565 Long Pond Rd

      VACANT COMMERCIAL LAND • 22.09 Acres
      1565 Long Pond Rd, Rochester, NY 14626-4168
      View Details
    • Value Estimation by Request
      0.26 Acres

      116 Somerworth Dr

      VACANT COMMERCIAL LAND • 0.26 Acres
      116 Somerworth Dr, Rochester, NY 14626-3639
      View Details

    Similar Nearby for Sale

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      1.49 Acres

      Rochester Residential Land

      1.49 Acres, Prime Development Site
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    • $550,000

      Commercial Land For Sale

      Commercial land available for sale.
      2626-2628 Ridgeway Ave, Greece, NY 14626
      View Details
    • $1,200,000
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      Prime Greece Commercial Property

      Spacious remodeled building on 4 acres
      1118 Long Pond Rd, Greece, NY 14626
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    • $995,000

      Remodeled Building on 4.2 Acres

      Remodeled building with detached garage and ample parking.
      1118 Long Pond Rd, Greece, NY 14626
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    Similar Nearby for Lease

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      Rochester Commercial Property For Lease

      Commercial property in prime location with easy access and many amenities.
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      View Details
    • Contact for pricing

      Sub-divisible Lot Near I-390

      Sub-divisible lot near I-390, ideal for various businesses.
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      View Details
    • Contact for pricing
      443,146 SF

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      Retail and warehouse spaces available in prime retail corridor.
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      Canal Landing Office Park Spaces

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      View Details
    • $2,000 /Mo
      20,346 SF

      Rochester Commercial Property Near Expressway

      Commercial property in Greece, NY, near 390 expressway and Unity Hospital.
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      View Details
    Request Owner's contact information
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    1118 Long Pond Rd
    Greece, NY 14626
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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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