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

    240 State Rte 31 Macedon, NY 14502-8818

    • Individual retail properties
    • 875 SF
    • 0.46 lot acres
    OFF-MARKET
    Last Sale
    Mar 17, 2022
    $1,125,000
    Value Estimations
    $1,090,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-0148967
    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

    • Individual retail properties

    Property Details for 240 State Rte 31

    Year built
    1975
    Lot size
    0.46 lot acres
    Property size
    875 SF
    Zone code
    05 - COMMERCIAL
    Property type
    Individual retail properties
    APN
    543000 61111-00-127736
    APU
    5430006111100127736

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,090,000
      ML approach
      $1,070,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Macedon
    County
    Wayne
    State
    New York
    Longitude
    -77.3653
    Latitude
    43.064
    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
    $101,800
    $189,100
    $290,900
    -
    $108,298
    $201,170
    $309,468

    Comparable in this City

    • Value Estimation
      $235,000
      459 SF

      3270 Canandaigua Rd

      FINANCIAL BUILDING • 459 SF
      3270 Canandaigua Rd, Macedon, NY 14502
      View Details
    • Value Estimation
      $285,000
      4,000 SF

      359 State Rte 31

      FINANCIAL BUILDING • 4,000 SF
      359 State Rte 31, Macedon, NY 14502-9761
      View Details
    • Value Estimation
      $245,000
      459 SF

      1200 State Rte 31

      FINANCIAL BUILDING • 459 SF
      1200 State Rte 31, Macedon, NY 14502
      View Details
    • Value Estimation
      $550,000
      122,916 SF

      856 Walworth Penfield Rd

      SHOW ROOM, WAREHOUSE • 122,916 SF
      856 Walworth Penfield Rd, Macedon, NY 14502-9335
      View Details
    • Value Estimation
      $310,000
      7,147 SF

      344 State Rte 31

      RETAIL STORES (PERSONAL SERVICES) • 7,147 SF
      344 State Rte 31, Macedon, NY 14502-9760
      View Details
    • Value Estimation
      $245,000
      6,512 SF

      1520 Victor Rd

      FINANCIAL BUILDING • 6,512 SF
      1520 Victor Rd, Macedon, NY 14502-8891
      View Details

    Similar Nearby for Sale

    • $475,000

      Mixed-Use Property with Multiple Buildings

      1.5-acre property with house, shops, and garage.
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      View Details
    • $620,000
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      Macedon Parkway Commercial Land

      4-Acre Mixed-Use Development Site
      237 Ny-31, Macedon, NY 14502
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    • $89,000
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      Macedon Land: Build Your Dream

      3.87 acre cleared lot ready for your dream home.
      Barnes Rd, Macedon, NY 14502
      View Details
    • $350,000
      46.00 Acres

      46 Acres Farmland and Woodlands

      46 acres of versatile land with farming and recreational potential.
      1096 Victor Rd, Macedon, NY 14502
      View Details
    • $199,900
      18.11 Acres

      Macedon Vacant Land Opportunity

      18.11 acres of raw land in Wayne County.
      Wp01 Willowdale Dr, Macedon, NY 14502
      View Details
    • $649,000

      Land For Sale

      Commercial land available for sale.
      1045 Brixton Dr Dr, Macedon, NY 14502
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,999 SF

      Retail Space Near Super Walmart

      Retail space available in shadow strip center near Super Walmart.
      515 Sampson Dr, Macedon, NY 14502
      View Details
    • Contact for pricing
      4,000 SF

      Versatile Retail/Office/Restaurant Space

      4,000 SF space ideal for retail, office, or restaurant.
      1503 Canandaigua Rd, Macedon, NY 14502
      View Details
    • $1,000 /Mo
      219,107 SF

      Macedon Commercial Storage Space Available

      Unheated inside storage and outside storage space for lease.
      2095 Imperial Dr, Macedon, NY 14502
      View Details
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    240 State Rte 31
    Macedon, NY 14502-8818
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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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