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    Property profile & analytics

    3349 Monroe Ave Rochester, NY 14618-5513

    • Super regional malls
    • 424,207 SF
    • 39.50 lot acres
    OFF-MARKET
    Value Estimations
    $610,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3075935
    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

    • Rite Aid Photo / Photo Lab
    • Blueground Jewelry / Jeweler
    • Hobby House Toys / Toy Store
    • black & blue Steak and Crab, Rochester, NY / Seafood Restaurant / Restaurant
    • Pittsford Plaza / Shopping Mall

    Property Details for 3349 Monroe Ave

    Year built
    1960
    Lot size
    39.50 lot acres
    Property size
    424,207 SF
    Property type
    Super regional malls
    APN
    264689 150.12-1-18
    APU
    26468915012118

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $610,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.5401
    Latitude
    43.1021
    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
    $13,284,000
    $19,926,000
    $33,210,000
    -
    $18,450,000
    $27,675,000
    $46,125,000

    Comparable in this City

    • Value Estimation
      $470,000
      22,250 SF

      2750 Monroe Ave

      SHOPPING CENTER, STRIP CENTER • 22,250 SF
      2750 Monroe Ave, Rochester, NY 14618-4116
      View Details
    • Value Estimation
      $265,000
      20,060 SF

      3240 Monroe Ave, Unit 3246

      SHOPPING CENTER, STRIP CENTER • 20,060 SF
      3240 Monroe Ave, Rochester, NY 14618-4627
      View Details
    • Value Estimation
      $360,000
      145,047 SF

      1900 Clinton Ave

      SHOPPING CENTER, STRIP CENTER • 145,047 SF
      1900 Clinton Ave, Rochester, NY 14618-5621
      View Details
    • Value Estimation
      $165,000
      11,586 SF

      1703 Monroe Ave

      SHOPPING CENTER, STRIP CENTER • 11,586 SF
      1703 Monroe Ave, Rochester, NY 14618-1431
      View Details
    • Value Estimation
      $415,000
      103,463 SF

      3400 Monroe Ave

      SHOPPING CENTER, STRIP CENTER • 103,463 SF
      3400 Monroe Ave, Rochester, NY 14618-4725
      View Details
    • Value Estimation
      $255,000
      13,630 SF

      2920 Monroe Ave

      SHOPPING CENTER, STRIP CENTER • 13,630 SF
      2920 Monroe Ave, Rochester, NY 14618-4602
      View Details

    Similar Nearby for Sale

    • New
      $900,000
      2,671 SF

      Unique Retail Opportunity on Monroe

      Retail property with pickleball courts on bustling Monroe Avenue.
      2195 Monroe Ave, Rochester, NY 14618
      View Details
    • $374,900

      Commercial Land Available

      Commercial land for sale.
      2185 Monroe Ave, Rochester, NY 14618
      View Details
    • New
      $120,000
      0.25 Acres

      Residential Land in Fort Plain

      0.25-acre lot in the sought-after Fort Plain subdivision.
      15 Saint Johnsville Trl, Rochester, NY 14618
      View Details
    • $239,000

      Land Near Twelve Corners

      Corner lot near Twelve Corners, Rochester, approved for small building.
      2087 Monroe Ave, Rochester, NY 14618
      View Details
    • New
      $160,000
      0.37 Acres

      Brighton Land in Waterford Estates

      Residential land in Brighton's Waterford Estates, build your dream home.
      70 Pendleton Hl, Rochester, NY 14618
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    • Contact for pricing

      Monroe Avenue Land Opportunity

      Land available on Monroe Avenue with potential ATM drive-thru.
      2560 Monroe Ave, Rochester, NY 14618
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    Similar Nearby for Lease

    • $16 SF/Yr

      Brighton Retail Space For Rent

      Retail space for rent in high-visibility Brighton property.
      2240 Monroe Ave, Rochester, NY 14618
      View Details
    • Contact for pricing
      1,231 SF

      Retail Space in High-Traffic Plaza

      Customizable retail space in desirable, high-visibility Springhouse Commons.
      3025 Monroe Ave, Rochester, NY 14618
      View Details
    • Contact for pricing
      6,624 SF

      Brighton Restaurant Space - 6,624 SF

      Prime Brighton location, 6,624 sq ft, ample parking.
      1890 Clinton Ave, Rochester, NY 14618
      View Details
    • Contact for pricing
      4,600 SF

      Freestanding Retail Space in Pittsford

      4,558 SF retail space in high-traffic Pittsford corridor.
      3350 Monroe Ave, Rochester, NY 14618
      View Details
    • Contact for pricing
      2,764 SF

      Retail Space Near Twelve Corners

      Retail space with heavy foot traffic, walking distance to amenities.
      1655 Monroe Ave, Rochester, NY 14618
      View Details
    • New
      $2,300 /Mo
      1,650 SF

      Updated Commercial Space on Monroe

      Updated commercial space suitable for salon, retail, office, or medical.
      1704 Monroe Ave, Rochester, NY 14618
      View Details

    Property Visit Statistics

    • Visits by month
      13.3k
    • Visitors by month
      14.0k
    • Avg Time on site
      30 min
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    3349 Monroe Ave
    Rochester, NY 14618-5513
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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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