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    Property profile & analytics

    3 Geddes Street Ext Holley, NY 14470

    • Grocery and convenience stores
    • 21,075 SF
    • 1.50 lot acres
    For Sale
    View listing
    $425,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2927912
    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

    • Holley Pharmacy / Pharmacy
    • John M. Carl, RPh / Pharmacy
    • Lucas J. Miller, Pharm / Pharmacy

    Property Details for 3 Geddes Street Ext

    Year built
    1969
    Lot size
    1.50 lot acres
    Property size
    21,075 SF
    Zone code
    C1
    Property type
    Grocery and convenience stores
    APN
    343201 88.5-2-53
    APU
    343201885253

    Description

    This exceptional 21,075 square foot commercial property in Holley, NY, presents a unique investment opportunity. Situated on a 1.5-acre lot, this building boasts extensive space ideal for a grocery store, fulfilling a critical need in a designated food desert. Existing infrastructure includes coolers, freezers, and meat prep areas, significantly reducing startup costs. A currently leased pharmacy within the building provides immediate supplemental income. The property's strategic location in a college town ensures high foot traffic and convenient access for deliveries. Beyond grocery, the substantial warehouse space, complete with a loading dock, drive-in doors, and ample office space, is perfect for storage or manufacturing, benefiting from its highway proximity. The village actively encourages a new grocery store, and potential buyers may qualify for low-cost loans and grants. This versatile property offers significant upside potential for both investors and business owners seeking a prime location with substantial existing assets. The open space allows for a wide range of business ventures. Low storage rental rates are available for the entire building.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $2,425,000
      RESTAURANT
      $2,070,000
      AUTO REPAIR, GARAGE
      $1,815,000
      OFFICE BUILDING
      $1,640,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Holley
    County
    Orleans
    State
    New York
    Longitude
    -78.0232
    Latitude
    43.2247
    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
    2020
    $15,020
    $19,500
    $255,500
    $275,000
    -
    $25,003
    $327,597
    $352,600

    Comparable in this City

    • Value Estimation
      $755,000
      9,100 SF

      16684 State Rte 31

      RETAIL STORES (PERSONAL SERVICES) • 9,100 SF
      16684 State Rte 31, Holley, NY 14470-9074
      View Details
    • Value Estimation by Request
      1,300 SF

      3570 Fancher Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,300 SF
      3570 Fancher Rd, Holley, NY 14470-9417
      View Details
    • Value Estimation by Request
      5,064 SF

      51 Public Sq

      FINANCIAL BUILDING • 5,064 SF
      51 Public Sq, Holley, NY 14470-1130
      View Details
    • Value Estimation by Request
      2,740 SF

      29 Public Sq

      SHOW ROOM, WAREHOUSE • 2,740 SF
      29 Public Sq, Holley, NY 14470-1130
      View Details
    • Value Estimation
      $670,000
      20,987 SF

      3570 Fancher Rd

      SHOW ROOM, WAREHOUSE • 20,987 SF
      3570 Fancher Rd, Holley, NY 14470-9417
      View Details
    • Value Estimation by Request
      3,600 SF

      16301 Lee Rd

      SHOW ROOM, WAREHOUSE • 3,600 SF
      16301 Lee Rd, Holley, NY 14470-9009
      View Details

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      Land for sale in Murray, NY. Make offer!
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    Holley, NY 14470
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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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