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

    3240 Chili Ave Rochester, NY 14624-5438

    • Strip malls
    • 25,105 SF
    • 17.98 lot acres
    OFF-MARKET
    Last Sale
    Aug 16, 2022
    Value Estimations
    $500,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5867232
    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

    • Ferrari Pizza Bar / Pizza Restaurant
    • Salvatore’s Barber Shop / Barber Shop
    • The Original Steve's Diner / Diner
    • Bill Gray's Chili / Hamburger Restaurant / American Restaurant
    • InsureOne / Auto Insurance Agency

    Property Details for 3240 Chili Ave

    Year built
    1963
    Lot size
    17.98 lot acres
    Property size
    25,105 SF
    Zone code
    05 - COMMERCIAL
    Property type
    Strip malls
    Property subtype
    Neighborhood centers
    APN
    262200 146.09-2-20.1
    APU
    262200146092201

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $380,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $616,000
      Market price range: $139k - $616k

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.7523
    Latitude
    43.1059
    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
    $1,101,300
    $4,829,900
    $5,931,200
    -
    $1,376,625
    $6,037,375
    $7,414,000

    Comparable in this City

    • Value Estimation
      $225,000
      6,120 SF

      1308 Buffalo Rd

      SHOPPING CENTER, STRIP CENTER • 6,120 SF
      1308 Buffalo Rd, Rochester, NY 14624-1831
      View Details
    • Value Estimation
      $505,000
      42,352 SF

      1283 Chili Ave, Unit 1325

      SHOPPING CENTER, STRIP CENTER • 42,352 SF
      1283 Chili Ave, Rochester, NY 14624-3029
      View Details
    • Value Estimation
      $180,000
      12,288 SF

      900 Elmgrove Rd, Unit 910

      SHOPPING CENTER, STRIP CENTER • 12,288 SF
      900 Elmgrove Rd, Rochester, NY 14624-6236
      View Details
    • Value Estimation
      $215,000
      4,224 SF

      3670 Buffalo Rd

      SHOPPING CENTER, STRIP CENTER • 4,224 SF
      3670 Buffalo Rd, Rochester, NY 14624-1124
      View Details
    • Value Estimation
      $165,000
      6,100 SF

      426 Hinchey Rd

      SHOPPING CENTER, STRIP CENTER • 6,100 SF
      426 Hinchey Rd, Rochester, NY 14624
      View Details
    • Value Estimation
      $240,000
      12,671 SF

      4165 Buffalo Rd

      SHOPPING CENTER, STRIP CENTER • 12,671 SF
      4165 Buffalo Rd, Rochester, NY 14624-1975
      View Details

    Similar Nearby for Sale

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      High-Yield Retail Portfolio in NY & NJ

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    • $825,000

      Freestanding Retail Location on Chili

      Retail location on busy Chili Avenue in Chili's central district.
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      Paved Parking Lot For Sale

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    • $999,950

      High-Traffic Area Commercial Property

      Commercial property in high-traffic area suitable for retail or office.
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    • $899,900

      Turnkey Restaurant and Bar Investment

      Over 11,000 SqFt building with remodeled restaurant and bar.
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      Retail property available for sale in Rochester, New York.
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    Similar Nearby for Lease

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      3,000 SF

      Retail/Office Space on Scottsville Rd

      Versatile retail/office space in a high-traffic Rochester location.
      1302 Scottsville Rd, Rochester, NY 14624
      View Details
    • Contact for pricing
      9,754 SF

      Prime Retail Plaza on Hinchey Rd

      High-traffic location, fully leased, I-390 visibility.
      4 Hinchey Rd, Rochester, NY 14624
      View Details
    • $24 SF/Yr
      27,930 SF

      Retail Space in Rochester Center

      Retail space available in Walmart-anchored shopping center near University.
      1493 Howard Rd, Rochester, NY 14624
      View Details
    • $24 SF/Yr
      27,930 SF

      Walmart Anchored Retail Outparcel

      Retail space in Walmart-anchored center near University of Rochester.
      1493 Howard Rd, Rochester, NY 14624
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    • $24 SF/Yr
      1,750 SF

      Retail Space Near Walmart

      Retail space in Walmart-anchored center, Rochester, NY.
      1493-1697 Howard Rd, Rochester, NY 14624
      View Details
    • $7 SF/Yr
      62,042 SF

      Walmart Shadow-Anchored Retail & Office

      Retail and office spaces available in a busy shopping center.
      2036 Chili Ave, Westgate, NY 14624
      View Details

    Property Visit Statistics

    • Visits by month
      3.9k
    • Visitors by month
      4.2k
    • Avg Time on site
      34 min
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    Rochester, NY 14624-5438
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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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