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

    2500 Ridgeway Ave Rochester, NY 14626-4116

    • Strip malls
    • 37,710 SF
    • 5.43 lot acres
    OFF-MARKET
    Last Sale
    May 22, 2024
    $3,600,000
    Value Estimations
    $3,300,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-6259919
    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

    • Bella Pasta Restaurant and Catering / Restaurant / Italian Restaurant
    • Erie Canal Commons / Shopping Mall

    Property Details for 2500 Ridgeway Ave

    Year built
    1997
    Lot size
    5.43 lot acres
    Property size
    37,710 SF
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    262800 089.14-2-2.11
    APU
    262800089142211

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,600,000
      ML approach
      $3,600,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,399,000
      Market price range: $941k - $4.04M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $2,605,000
      Current use
      RESTAURANT
      $4,785,000
      Change: +84% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $4,020,000
      Change: +54% Conversion: Difficult
      OFFICE BUILDING
      $3,115,000
      Change: +20% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $2,490,000
      Change: -5% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.6996
    Latitude
    43.1882
    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
    $488,900
    $1,536,800
    $2,025,700
    -
    $568,488
    $1,786,977
    $2,355,465

    Comparable in this City

    • Value Estimation
      $270,000
      14,672 SF

      2680 Rdg Rd

      SHOPPING CENTER, STRIP CENTER • 14,672 SF
      2680 Rdg Rd, Rochester, NY 14626-3000
      View Details
    • Value Estimation
      $390,000
      29,694 SF

      1946 Rdg Rd

      SHOPPING CENTER, STRIP CENTER • 29,694 SF
      1946 Rdg Rd, Rochester, NY 14626-2708
      View Details
    • Value Estimation
      $310,000
      14,986 SF

      773 Fetzner Rd

      SHOPPING CENTER, STRIP CENTER • 14,986 SF
      773 Fetzner Rd, Rochester, NY 14626
      View Details
    • Value Estimation
      $300,000
      22,540 SF

      1161 Greece Rd, Unit 1177

      SHOPPING CENTER, STRIP CENTER • 22,540 SF
      1161 Greece Rd, Rochester, NY 14626-1023
      View Details
    • Value Estimation
      $340,000
      20,000 SF

      2695 Rdg Rd

      SHOPPING CENTER, STRIP CENTER • 20,000 SF
      2695 Rdg Rd, Rochester, NY 14626-3055
      View Details
    • Value Estimation
      $265,000
      7,726 SF

      2846 Rdg Rd

      SHOPPING CENTER, STRIP CENTER • 7,726 SF
      2846 Rdg Rd, Rochester, NY 14626-1639
      View Details

    Similar Nearby for Sale

    • $995,000

      Remodeled Building on 4.2 Acres

      Remodeled building with detached garage and ample parking.
      1118 Long Pond Rd, Greece, NY 14626
      View Details
    • $1,700,000
      22,624 SF

      West Ridge Road Investment Opportunity

      Mixed-use building, high occupancy, strong location.
      2450 Ridge Rd, Rochester, NY 14626
      View Details
    • $1,200,000
      9,000 SF

      Prime Greece Commercial Property

      Spacious remodeled building on 4 acres
      1118 Long Pond Rd, Greece, NY 14626
      View Details
    • $600,000
      8,500 SF

      Ridge Road Office Building For Sale

      8,500 SF Office Building, Greece, NY
      3101 Ridge Rd, Greece, NY 14626
      View Details
    • Contact for pricing
      1.49 Acres

      Rochester Residential Land

      1.49 Acres, Prime Development Site
      1041 Long Pond Rd, Rochester, NY 14626
      View Details
    • $550,000

      Commercial Land For Sale

      Commercial land available for sale.
      2626-2628 Ridgeway Ave, Greece, NY 14626
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      443,146 SF

      Subdivisible Big Box Space Available

      Retail and warehouse spaces available in prime retail corridor.
      500 Elmridge Center Dr, Rochester, NY 14626
      View Details
    • Contact for pricing
      75,560 SF

      Prime Greece Retail Center

      20,000 SF Available, High Visibility
      3042 Ridge Rd, Greece, NY 14626
      View Details
    • Contact for pricing
      23,105 SF

      Subdivisible Big Box Space Available

      Upgraded retail and warehouse spaces available for lease.
      200-700 Elmridge Center Dr, Rochester, NY 14626
      View Details
    • Contact for pricing
      443,146 SF

      Elm Ridge Shopping Center: Prime Retail Space

      Greece, NY: Retail spaces available.
      200 Elmridge Center Dr, Rochester, NY 14626
      View Details
    • Contact for pricing
      10,205 SF

      Ridge Road Office Space for Lease

      1,000 SF Office/Medical Space in Greece, NY
      2745 Ridge Rd, Rochester, NY 14626
      View Details
    • $850,000
      522 SF

      Retail Building with Full Basement

      522 SF building on 4.37 acres available for lease.
      4600 W Ridge Rd, Rochester, NY 14626
      View Details

    Property Visit Statistics

    • Visits by month
      38.7k
    • Visitors by month
      20.5k
    • Avg Time on site
      10 min
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    Rochester, NY 14626-4116
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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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