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    1347 Hathaway Dr Farmington, NY 14425
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    1347 Hathaway Dr, Farmington, NY 14425

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    • Commercial real estate
    • 1.65 lot acres
    Off-Market
    Property ID
    US63-5455095
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Farmington on the Creek Apartments / Apartment Complex

    Property Details for 1347 Hathaway Dr

    Lot size
    1.65 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional 1.65-acre commercial land parcel presents a unique development opportunity in Farmington, New York. Located at 1347 Hathaway Drive, this property boasts a highly desirable location adjacent to the 184-unit Farmington Creek Apartments, a recently constructed (2018) residential complex. The site is zoned for commercial incentive zoning, allowing for significant development potential. Plans have been approved for the construction of three buildings, with a potential build-out ranging from 5,000 to 15,000 square feet. This prime location offers unparalleled visibility and accessibility, situated on Ontario County's primary north/south traffic corridor (Route 332), experiencing a daily traffic count of 24,000 vehicles. All essential utilities are readily available on-site, including sanitary sewer, domestic and sprinkler water, underground electric, Spectrum (phone, internet, cable), Frontier phone service, and storm drainage. This presents a rare chance to capitalize on a high-traffic area with existing residential density, making it ideal for a variety of commercial ventures. The asking price for this exceptional property is $100,000. Don't miss this opportunity to secure a thriving commercial location in a rapidly growing area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmington
    County
    Ontario
    State
    New York
    Longitude
    -77.35278444
    Latitude
    42.9686339

    Comparable in this City

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      5,500 SF

      Commercial Lot Build to Suit

      Commercial Drive lot available for sale or lease.
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      Commercial Lot on Commercial Drive

      Subdivided lot suitable for office or service business development.
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      Prime Land in Growing Area

      Two parcels of land available for sale or lease.
      Farmbrook Dr, Canandaigua, NY 14425
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      Prime Land on State Route

      Highly visible land with access to major routes.
      1200 State Rte 332 / Cmns Northwest, Farmington, NY 14425
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    Similar Nearby for Sale

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      Commercial Lot on Commercial Drive

      Corner lot available for sale, build to suit opportunity.
      1265 Commercial Dr, Farmington, NY 14425
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      5,500 SF

      Commercial Lot Build to Suit

      Commercial Drive lot available for sale or lease.
      1220 Commercial Dr, Farmington, NY 14425
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      Commercial Lot on Commercial Drive

      Subdivided lot suitable for office or service business development.
      1235 Commercial Dr, Farmington, NY 14425
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    • Contact for pricing

      Prime Land in Growing Area

      Two parcels of land available for sale or lease.
      Farmbrook Dr, Canandaigua, NY 14425
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    • Contact for pricing

      Prime Land on State Route

      Highly visible land with access to major routes.
      1200 State Rte 332 / Cmns Northwest, Farmington, NY 14425
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    Similar Nearby for Lease

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      Pre-Permitted Warehouse Land For Rent

      Land pre-permitted for a 120,000 SF warehouse.
      8 Coy St, Canandaigua, NY 14425
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      Commercial Land Pad Sites Available

      Two potential pad sites for rent with customized space.
      1622 Rochester Rd, Farmington, NY 14425
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      Commercial Land Pad Sites Available

      Two pad sites for rent with excellent Route 332 access.
      6061 Carmens Way, Farmington, NY 14425
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    • $6,000 /Mo
      8,934 SF

      Unique Event and Food Venue

      Fully built-out venue suitable for events, dining, and hospitality.
      6108 Loomis Rd, Farmington, NY 14425
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    Farmington, NY 14425
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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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