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    3042 W Ridge Rd Rochester, NY 14626
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    Property profile & analytics

    3042 W Ridge Rd Rochester, NY 14626

    View on Map
    • Community centers
    • 76,560 SF
    • 8.59 lot acres
    For Lease
    $2,220,000
    View Listing →
    West Ridge Road Retail Space For Lease
    $2,220,000

    West Ridge Road Retail Space

    Retail space in West Ridge Road commercial corridor for lease.

    3042 W Ridge Rd, Rochester, NY 14626
    View Listing
    Property ID
    US63-1934693
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Master Kim's Taekwondo Institute / Sports School / Training Center
    • America's Best Contacts & Eyeglasses / Physician
    • Viking Sewing Gallery / (Bike/Boat/Book/etc) Store
    • TagWorks / (Bike/Boat/Book/etc) Store / Pet Store & Service
    • PetSmart Grooming / Pet Grooming Service

    Property Details for 3042 W Ridge Rd

    Year built
    1983
    Lot size
    8.59 lot acres
    Property size
    76,560 SF
    Zone code
    05 - COMMERCIAL
    Property type
    Community centers
    Property subtype
    Shopping centers
    APN
    262800 074.01-1-4.1
    APU
    26280007401141

    Description

    This exceptional 75,560 square foot retail strip center, situated on an 8.59-acre lot at 3042 W Ridge Rd in Rochester, NY 14626, presents a unique investment opportunity. The property, built in 1983, features a single, one-story building divided into four suites. Currently, a significant 20,000 square feet of contiguous space is available for lease, offering considerable flexibility for a variety of retail uses. The center enjoys a highly desirable location within the Greece submarket of Rochester, strategically positioned between Lowe's Plaza and Ridgemont Plaza along the bustling West Ridge Road commercial corridor. This prime location ensures high visibility and accessibility, complemented by ample parking for customers and employees. The property's prominent signage opportunities further enhance its appeal to potential tenants. With its established presence and significant available space, this retail center offers a compelling opportunity for businesses seeking a strong foothold in a thriving commercial area. The property is located in Monroe County and easily accessible from Flower Dale Dr.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.7107
    Latitude
    43.2124
    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
    $558,200
    $3,583,200
    $4,141,400
    -
    $649,070
    $4,166,511
    $4,815,581

    Comparable in this City

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      25,296 SF

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      2780 Rdg Rd, Rochester, NY 14626-3029
      View Details
    • Value Estimation
      $1,905,000
      20,850 SF

      800 Elmridge Ctr Dr

      MINI-MALL • 20,850 SF
      800 Elmridge Ctr Dr, Rochester, NY 14626-3466
      View Details
    • Value Estimation
      $10,995,000
      136,148 SF

      3150 Rdg Rd

      MINI-MALL • 136,148 SF
      3150 Rdg Rd, Rochester, NY 14626-3216
      View Details
    • Value Estimation
      $6,760,000
      131,408 SF

      3780 Rdg Rd

      MINI-MALL • 131,408 SF
      3780 Rdg Rd, Rochester, NY 14626-3442
      View Details
    • Value Estimation
      $2,355,000
      86,965 SF

      4100 Rdg Rd

      MINI-MALL • 86,965 SF
      4100 Rdg Rd, Rochester, NY 14626-3529
      View Details
    • Value Estimation
      $2,110,000
      85,730 SF

      3049 Rdg Rd

      MINI-MALL • 85,730 SF
      3049 Rdg Rd, Rochester, NY 14626-1647
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      131,408 SF

      Subdivisible Big Box Space Available

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

      Prime Corner Commercial Land Available

      4.37-acre corner property with existing building for sale.
      4600 W Ridge Rd, Greece, NY 14626
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      5,040 SF

      Greece Retail Corridor Location

      Retail space in high-traffic Greece corridor, great visibility.
      2649 W Ridge Rd, Greece, NY 14626
      View Details
    • Contact for pricing
      3,450 SF

      Versatile Commercial Building on Ridge

      Adaptable commercial space suitable for medical, retail, or hospitality.
      2236 W Ridge Rd, Rochester, NY 14626
      View Details
    • $4,172,000
      5,500 SF

      Retail Property with Long-Term Tenant

      Retail property with tenant exercising option for additional 8 years.
      1908 W Ridge Rd, Rochester, NY 14626
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,000 SF

      Retail Plaza Near I-390

      86,000 SF retail plaza with high visibility and enhancements planned.
      1946 West Ridge Rd, Rochester, NY 14626
      View Details
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      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

      West Ridge Road Retail Space

      Retail space in West Ridge Road commercial corridor for lease.
      3042 W Ridge Rd, Rochester, NY 14626
      View Details
    • $7,200 /Mo

      High-Visibility Retail Space Available

      Commercial space for lease near Greece Ridge Mall.
      2300 W Ridge Rd, Greece, NY 14626
      View Details
    • Contact for pricing

      Retail Space Near Wegmans Center

      Freestanding building with high visibility in a retail corridor.
      2745 W Ridge Rd, Rochester, NY 14626
      View Details
    • Contact for pricing

      Freestanding Retail Space Near Wegmans

      Retail space in high-traffic area near major retailers.
      2745 Ridge Rd, Rochester, NY 14626
      View Details
    View Listing
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    Rochester, NY 14626
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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.

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