Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    119 Shepard Rd Rochester, NY 14624

    • Flex space
    • 500,000 SF
    • 87.50 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-6251740
    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

    • Flex space

    Property Details for 119 Shepard Rd

    Lot size
    87.50 lot acres
    Property size
    500,000 SF
    Property type
    Flex space
    Property subtype
    Manufacturing properties

    Description

    This exceptional 500,000-square-foot industrial property in Rochester, NY, presents a unique investment opportunity. Situated on a sprawling 87.5-acre lot with 1732 feet of frontage, this single-tenant building offers ample space for manufacturing, warehousing, or distribution. The property boasts a Light Industrial (LI) zoning designation and is conveniently located near Manitou Rd and Gillett Rd in Monroe County's Western New York submarket. All utilities are readily available at the roadside or on-site, and Shepard Road, a county road, is designed to handle heavy commercial truck traffic. The property's strategic location is further enhanced by its adjacency to an Amazon distribution center. Completed in 2022, the SEQR process for rezoning to Light Industrial anticipated a 385,000 sq ft buildout, demonstrating the property's significant development potential. The site offers approximately 50 acres of contiguous buildable land outside the FEMA 100-year floodplain, free from wetlands and protected species. The speed of approvals and permitting is evidenced by the adjacent Amazon facility, which received approvals and construction permits within four months. This property is ideal for businesses seeking a large-scale, well-located industrial space with significant expansion capabilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.771507710647
    Latitude
    43.158125104606

    Comparable in this City

    • $9 SF/Yr
      51,300 SF

      Rochester Industrial Flex Space

      51,300 SF Flex Space Available
      5 Marway Cir, Rochester, NY 14624
      View Details
    • $8 SF/Yr
      31,440 SF

      Rochester Industrial Warehouse Space

      31,440 SF Warehouse - Multiple Tenants
      8 Marway Cir, Rochester, NY 14624
      View Details
    • $9 SF/Yr
      52,332 SF

      Scottsville Road Office Space

      Versatile Office & Warehouse Space Available
      1250 Scottsville Rd, Rochester, NY 14624
      View Details
    • $5 SF/Yr
      24,700 SF

      Rochester Flex/Warehouse Space Available

      5,063 SF Flex Space in Prime Location
      18 Industrial Park Cir, Rochester, NY 14624
      View Details
    • $9 SF/Yr
      23,705 SF

      Airpark Drive Office/Industrial Space

      Rochester, NY Office/Warehouse Available
      200 Airpark Dr, Rochester, NY 14624
      View Details
    • Contact for pricing
      280,000 SF

      Rochester Warehouse - 280,000 SF

      Large industrial warehouse, divisible spaces available.
      40 Jetview Dr, Rochester, NY 14624
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      52,778 SF

      Rochester Warehouse - 52,778 SF

      Spacious industrial warehouse, ideal for customization.
      39 Jetview Dr, Rochester, NY 14624
      View Details
    • $872,000
      4.63 Acres

      Cinemark Overflow Parking Lot

      4.63 Acres, Rochester, NY - Investment Opportunity
      2291 Buffalo Rd, Rochester, NY 14624
      View Details
    • Contact for pricing
      52,778 SF

      Industrial Property with High Power Capacity

      Industrial space featuring 3000 amps power and ample parking.
      39 Jetview Dr, Rochester, NY 14624
      View Details
    • $18,796,000
      25,032 SF

      High-Yield Retail Portfolio in NY & NJ

      Walgreens & Fresenius: 25,032 SF, 100% Occupied
      1208 Scottsville Rd, Rochester, NY 14624
      View Details
    • $825,000

      Freestanding Retail Location on Chili

      Retail location on busy Chili Avenue in Chili's central district.
      3187 Chili Ave, Rochester, NY 14624
      View Details
    • $84,900
      1,680 SF

      Professional Office/Medical Condo Suite

      1,680 Sq. Ft. office/medical condo suite for sale.
      501 Beahan Rd, Rochester, NY 14624
      View Details

    Similar Nearby for Lease

    • $9 SF/Yr
      51,300 SF

      Rochester Industrial Flex Space

      51,300 SF Flex Space Available
      5 Marway Cir, Rochester, NY 14624
      View Details
    • $8 SF/Yr
      31,440 SF

      Rochester Industrial Warehouse Space

      31,440 SF Warehouse - Multiple Tenants
      8 Marway Cir, Rochester, NY 14624
      View Details
    • $9 SF/Yr
      52,332 SF

      Scottsville Road Office Space

      Versatile Office & Warehouse Space Available
      1250 Scottsville Rd, Rochester, NY 14624
      View Details
    • $5 SF/Yr
      24,700 SF

      Rochester Flex/Warehouse Space Available

      5,063 SF Flex Space in Prime Location
      18 Industrial Park Cir, Rochester, NY 14624
      View Details
    • $9 SF/Yr
      23,705 SF

      Airpark Drive Office/Industrial Space

      Rochester, NY Office/Warehouse Available
      200 Airpark Dr, Rochester, NY 14624
      View Details
    • Contact for pricing
      280,000 SF

      Rochester Warehouse - 280,000 SF

      Large industrial warehouse, divisible spaces available.
      40 Jetview Dr, Rochester, NY 14624
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    119 Shepard Rd
    Rochester, NY 14624
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.