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    Property profile & analytics

    1493 Howard Rd, Unit 1697 Rochester, NY 14624-2848

    • Super regional malls
    • 27,930 SF
    • 4.04 lot acres
    OFF-MARKET
    Last Sale
    Jun 05, 2024
    $5,400,000
    Value Estimations
    $5,400,000
    Show details
    Cap Rate Potential
    7.5%
    Super regional malls
    Location Intelligence
    Property ID
    US63-3980926
    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

    • Super regional malls

    Property Details for 1493 Howard Rd

    Year built
    2000
    Lot size
    4.04 lot acres
    Property size
    27,930 SF
    Zone code
    02 - SINGLE RESIDENCE
    Property type
    Super regional malls
    Property subtype
    Shopping centers
    APN
    262600 134.06-1-85.1
    APU
    262600134061851

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,400,000
      ML approach
      $5,400,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,765,000
      6.5%
      $6,245,000
      7%
      $5,800,000

    • Alternative Use

      Use
      Estimation
      RESTAURANT
      $3,545,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.6916
    Latitude
    43.1322
    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
    $378,000
    $1,730,200
    $2,108,200
    -
    $455,422
    $2,084,578
    $2,540,000

    Comparable in this City

    • Value Estimation
      $1,015,000
      70,382 SF

      2345 Buffalo Rd

      REGIONAL SHOPPING CENTER, MALL • 70,382 SF
      2345 Buffalo Rd, Rochester, NY 14624-1305
      View Details
    • Value Estimation
      $2,415,000
      159,059 SF

      2103 Buffalo Rd, Unit 2175

      REGIONAL SHOPPING CENTER, MALL • 159,059 SF
      2103 Buffalo Rd, Rochester, NY 14624-1507
      View Details
    • Value Estimation
      $2,040,000
      67,774 SF

      2000 Chili Ave, Unit 2042

      REGIONAL SHOPPING CENTER, MALL • 67,774 SF
      2000 Chili Ave, Rochester, NY 14624-3424
      View Details
    • Value Estimation by Request
      6,120 SF

      1308 Buffalo Rd

      SHOPPING CENTER, STRIP CENTER • 6,120 SF
      1308 Buffalo Rd, Rochester, NY 14624-1831
      View Details
    • Value Estimation by Request
      12,671 SF

      4165 Buffalo Rd

      SHOPPING CENTER, STRIP CENTER • 12,671 SF
      4165 Buffalo Rd, Rochester, NY 14624-1975
      View Details
    • Value Estimation
      $2,325,000
      25,105 SF

      3240 Chili Ave

      SHOPPING CENTER, STRIP CENTER • 25,105 SF
      3240 Chili Ave, Rochester, NY 14624-5438
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Paved Parcel Near IMAX Theater

      4.36 acre paved parcel in Gates, near Rochester, NY.
      2291 Buffalo Rd, Rochester, NY 14624
      View Details
    • $899,000
      4,000 SF

      Redevelopment Site in Gates, NY

      1.33 acre redevelopment site with 4,000 SF building.
      2235 Buffalo Rd, Rochester, NY 14624
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    • Contact for pricing
      25,032 SF

      Rochester Retail Property For Sale

      Retail property available for sale in Rochester, New York.
      1208 Scottsville Rd, Rochester, NY 14624
      View Details
    • $872,000

      Paved Parking Lot For Sale

      4.36-acre paved and striped parking lot with installed lighting.
      2291 Buffalo Rd, Rochester, NY 14624
      View Details
    • $6,625,000
      62,042 SF

      Retail/Office Space with Signage

      Retail or office space with signage and dedicated parking.
      2000 Chili Ave, Rochester, NY 14624
      View Details

    Similar Nearby for Lease

    • $13 SF/Yr
      3,000 SF

      Retail/Office Space on Scottsville Rd

      Versatile retail/office space in a high-traffic Rochester location.
      1302 Scottsville Rd, Rochester, NY 14624
      View Details
    • $24 SF/Yr
      1,750 SF

      Retail Space Near Walmart

      Retail space in Walmart-anchored center, Rochester, NY.
      1493-1697 Howard Rd, Rochester, NY 14624
      View Details
    • Contact for pricing
      8,024 SF

      Retail Plaza in Suburban Rochester

      117,000 SF retail plaza with leasing opportunities.
      3170 Chili Ave, Rochester, NY 14624
      View Details
    • $30 SF/Yr
      1,076 SF

      Retail Space Next to Starbucks

      Retail space available next to Starbucks, near University of Rochester.
      2100-2110 Chili Ave, Rochester, NY 14624
      View Details
    • $7 SF/Yr

      Walmart Shadow-Anchored Retail & Office

      Retail and office spaces available in a busy shopping center.
      2036 Chili Ave, Westgate, NY 14624
      View Details
    • Contact for pricing

      Chili Village Center Development Land

      13.57-acre development site for retail, office, and apartments.
      3235 Chili Ave, Rochester, NY 14624
      View Details
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    1493 Howard Rd, Unit 1697
    Rochester, NY 14624-2848
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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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