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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2345 Marketplace Dr Rochester, NY 14623-6009

    • Community centers
    • 45,180 SF
    • 1.26 lot acres
    OFF-MARKET
    Last Sale
    Oct 17, 2023
    Value Estimations
    $3,835,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1871026
    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

    • Geek Squad / Computer & Electronic Repair / Tech Support Center
    • Best Buy / Electronics & Wireless Store

    Property Details for 2345 Marketplace Dr

    Year built
    1999
    Lot size
    1.26 lot acres
    Property size
    45,180 SF
    Zone code
    05 - COMMERCIAL
    Property type
    Community centers
    APN
    263200 161.16-1-10
    APU
    26320016116110

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,991,000
      Market price range: $1.13M - $4.84M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $3,125,000
      Current use
      RESTAURANT
      $5,735,000
      Change: +84% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $4,820,000
      Change: +54% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $4,285,000
      Change: +37% Conversion: Easy
      OFFICE BUILDING
      $4,020,000
      Change: +29% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.633
    Latitude
    43.0792
    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
    $407,500
    $2,992,500
    $3,400,000
    -
    $407,500
    $2,992,500
    $3,400,000

    Comparable in this City

    • Value Estimation
      $4,085,000
      135,557 SF

      2350 Marketplace Dr

      MINI-MALL • 135,557 SF
      2350 Marketplace Dr, Rochester, NY 14623-6013
      View Details
    • Value Estimation
      $2,530,000
      29,574 SF

      2335 Marketplace Dr

      MINI-MALL • 29,574 SF
      2335 Marketplace Dr, Rochester, NY 14623-6009
      View Details
    • Value Estimation
      $4,030,000
      65,520 SF

      1175 Marketplace Dr

      MINI-MALL • 65,520 SF
      1175 Marketplace Dr, Rochester, NY 14623-6010
      View Details
    • Value Estimation
      $1,215,000
      216,812 SF

      3445 Winton Pl

      MINI-MALL • 216,812 SF
      3445 Winton Pl, Rochester, NY 14623-2950
      View Details
    • Value Estimation
      $8,910,000
      29,974 SF

      3535 Henrietta Rd

      MINI-MALL • 29,974 SF
      3535 Henrietta Rd, Rochester, NY 14623-3527
      View Details
    • Value Estimation
      $1,860,000
      21,000 SF

      3501 Henrietta Rd

      MINI-MALL • 21,000 SF
      3501 Henrietta Rd, Rochester, NY 14623-3527
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      11.92 Acres

      Henrietta Theater Redevelopment

      75,800 SF prime retail redevelopment.
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      Rochester Retail Outparcel For Sale

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      Established Restaurant with Long-Term Lease

      Profitable restaurant property with a brand new 15-year lease.
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      3,242 SF

      Retail/Office Property on W. Henrietta

      Freestanding retail/office property with high visibility and ample parking.
      3740 West Henrietta Rd, Rochester, NY 14623
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    • $1,300,000
      11,490 SF

      Jefferson Rd Rochester Retail Space

      Prime Rochester location, 11,490 sq ft, $1.3M
      1225 Jefferson Rd, Rochester, NY 14623
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    Similar Nearby for Lease

    • Contact for pricing
      495,989 SF

      South Town Plaza Retail Space

      Rochester, NY Shopping Center - 207,267 SF Available
      3333 Henrietta Rd, Rochester, NY 14623
      View Details
    • Contact for pricing
      12,000 SF

      Retail Space Near Tops Grocery

      Retail space anchored by Tops Grocery, ideal for retail/office/call center.
      1175-1225 Jefferson Rd, Rochester, NY 14623
      View Details
    • Contact for pricing
      16,734 SF

      Prime Retail Space on Jefferson

      Up to 6,000 SF available in Rochester's largest trade area.
      600 Jefferson Rd, Rochester, NY 14623
      View Details
    • $15 SF/Yr
      145,000 SF

      Retail/Office Space Near RIT Campus

      Endcap and inline spaces for lease near Rochester Institute Technology.
      205 Jefferson Rd, Rochester, NY 14623
      View Details
    • $8 SF/Yr
      5,300 SF

      Retail Space in Jefferson Plaza

      Sublease opportunity in a busy, accessible Rochester shopping center.
      376 Jefferson Rd, Rochester, NY 14623
      View Details
    • $6,900,000
      15,120 SF

      Renovated Retail Center Near I-390

      High-traffic retail center with suites available near I-390.
      125 White Spruce Blvd, Rochester, NY 14623
      View Details

    Property Visit Statistics

    • Visits by month
      48.6k
    • Visitors by month
      39.9k
    • Avg Time on site
      24 min
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    Rochester, NY 14623-6009
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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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