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    Property profile & analytics

    3160 Rdg Rd Rochester, NY 14626-3220

    • Super regional malls
    • 165,690 SF
    • 14.20 lot acres
    OFF-MARKET
    Last Sale
    Oct 21, 2024
    $7,500,000
    Value Estimations
    $6,770,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3235915
    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

    • Tanning Oasis / Tanning Salon
    • Lowes Plaza / Shopping Mall
    • Value City Furniture / Furniture Store
    • Ollie's Bargain Outlet / Hardware Store / Home Goods Store
    • New York Icons / Sports Club / Dance School

    Property Details for 3160 Rdg Rd

    Year built
    1982
    Lot size
    14.20 lot acres
    Property size
    165,690 SF
    Property type
    Super regional malls
    APN
    262800 074.01-1-7.1
    APU
    26280007401171

    Description

    This exceptional retail opportunity presents 8,500 square feet of available space within the established Lowes Plaza, situated in the heart of Greece, NY's vibrant retail corridor. The property boasts a Class A designation, having undergone renovations in 2008, and is part of a larger 165,690 square foot complex built in 1982. The single-story building sits on a substantial 14.2-acre lot, providing ample parking for over 100 vehicles. Its strategic location between ElmRidge Plaza (Walmart Supercenter) and Ridgemont Plaza (Wegmans) ensures high visibility and significant foot traffic. Current tenants include Lowe's Home Improvement, Ollie's, Value City Furniture, Chuck E. Cheese, Dollar Tree, and more, creating a strong synergistic retail environment. The property's zoning (451 Reg Shop Ctr) allows for a variety of retail uses. The address is 3160 W Ridge Rd, Greece, NY 14626, conveniently located near major roadways and offering excellent access to a dense population base. A unique opportunity also exists for a potential retail pad build-out in the existing parking lot, tailored to a suitable tenant. The entire Lowes Plaza is also available for sale. This property offers strong demographics, high traffic counts, and exceptional visibility, making it an ideal investment or lease opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $7,500,000
      ML approach
      $7,500,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,583,000
      Market price range: $4.13M - $17.7M

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $11,455,000
      Current use
      COMMERCIAL (GENERAL)
      $10,935,000
      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
    -77.7142
    Latitude
    43.2132
    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
    $76,500
    $3,793,500
    $3,870,000
    -
    $88,953
    $4,411,047
    $4,500,000

    Comparable in this City

    • Value Estimation
      $315,000
      18,831 SF

      Greece Rdg Ctr

      REGIONAL SHOPPING CENTER, MALL • 18,831 SF
      Greece Rdg Ctr, Rochester, NY 14626
      View Details
    • Value Estimation
      $2,600,000
      115,669 SF

      Greece Rdg Ctr

      REGIONAL SHOPPING CENTER, MALL • 115,669 SF
      Greece Rdg Ctr, Rochester, NY 14626
      View Details
    • Value Estimation
      $1,085,000
      79,720 SF

      3580 Rdg Rd

      REGIONAL SHOPPING CENTER, MALL • 79,720 SF
      3580 Rdg Rd, Rochester, NY 14626
      View Details
    • Value Estimation
      $420,000
      28,449 SF

      Greece Rdg Ctr

      REGIONAL SHOPPING CENTER, MALL • 28,449 SF
      Greece Rdg Ctr, Rochester, NY 14626
      View Details
    • Value Estimation
      $470,000
      160,292 SF

      Greece Rdg Ctr

      REGIONAL SHOPPING CENTER, MALL • 160,292 SF
      Greece Rdg Ctr, Rochester, NY 14626
      View Details
    • Value Estimation
      $4,390,000
      128,513 SF

      317 Greece Rdg Ctr Dr

      REGIONAL SHOPPING CENTER, MALL • 128,513 SF
      317 Greece Rdg Ctr Dr, Rochester, NY 14626-2820
      View Details

    Similar Nearby for Sale

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      West Ridge Road Investment Opportunity

      Mixed-use building, high occupancy, strong location.
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    • $995,000

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      Remodeled building with detached garage and ample parking.
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      Ridge Road Office Building For Sale

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    • 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
    • $1,200,000
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      Prime Greece Commercial Property

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    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
      23,105 SF

      Subdivisible Big Box Space Available

      Upgraded retail and warehouse spaces available for lease.
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      75,560 SF

      Prime Greece Retail Center

      20,000 SF Available, High Visibility
      3042 Ridge Rd, Greece, 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
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      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
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    3160 Rdg Rd
    Rochester, NY 14626-3220
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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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