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

    689 Ridgeway Ave Rochester, NY 14615-3911

    • Investment properties
    • 2,850 SF
    • 0.18 lot acres
    OFF-MARKET
    Last Sale
    Dec 12, 2023
    $185,000
    Value Estimations
    $200,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2828225
    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

    • Three Little Birds Jamaican Food / Jamaican Restaurant
    • Three little birds bar & lounge / Jamaican Restaurant
    • LibertyX Bitcoin ATM / Atm
    • Casey Jones / Bar

    Property Details for 689 Ridgeway Ave

    Year built
    1930
    Lot size
    0.18 lot acres
    Property size
    2,850 SF
    Property type
    Investment properties
    Property subtype
    Live-work space
    APN
    261400 090.40-3-8
    APU
    2614000904038

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $200,000
      ML approach
      $195,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $195,000
      Market price range: $92.3k - $237k
      AI Estimate
      $254,000
      Market price range: $124k - $312k

    • Alternative Use

      Use
      Estimation
      COMMERCIAL (GENERAL)
      $175,000
      Current use
      AUTO REPAIR, GARAGE
      $305,000
      Change: +75% Conversion: Difficult
      OFFICE BUILDING
      $235,000
      Change: +35% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $195,000
      Change: +13% Conversion: Difficult
      WAREHOUSE, STORAGE
      $145,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.6486
    Latitude
    43.1936
    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
    $24,200
    $101,200
    $125,400
    -
    $29,157
    $121,927
    $151,084

    Comparable in this City

    • Value Estimation
      $255,000
      1,784 SF

      231 Rdg Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,784 SF
      231 Rdg Rd, Rochester, NY 14615-2913
      View Details
    • Value Estimation
      $255,000
      1,478 SF

      928 Rdg Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,478 SF
      928 Rdg Rd, Rochester, NY 14615-2831
      View Details
    • Value Estimation
      $235,000
      1,536 SF

      135 Rdg Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 1,536 SF
      135 Rdg Rd, Rochester, NY 14615-3554
      View Details
    • Value Estimation
      $220,000
      4,365 SF

      1510-1514 Dewey Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 4,365 SF
      1510-1514 Dewey Ave, Rochester, NY 14615
      View Details
    • Value Estimation
      $265,000
      2,052 SF

      1383 Rdg Rd

      OFFICE/RESIDENTIAL (MIXED USE) • 2,052 SF
      1383 Rdg Rd, Rochester, NY 14615-2412
      View Details
    • Value Estimation
      $70,000
      2,920 SF

      1450 Lk Ave

      OFFICE/RESIDENTIAL (MIXED USE) • 2,920 SF
      1450 Lk Ave, Rochester, NY 14615-3062
      View Details

    Similar Nearby for Sale

    • $639,500

      Mixed-Use Building with Apartments

      Commercial building featuring apartments, stores, outbuilding, and parking.
      1481-1499 Dewey Ave, Rochester, NY 14615
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    • $199,900

      Prime Land Parcels For Sale

      Investment opportunity in an established, growing area.
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      3.20 Acres

      Canal Ponds Commons: High Exposure

      Rochester, NY: Retail, Office, Medical
      0 Bellwood Dr At I-390 & Ridgeway Ave, Rochester, NY 14615
      View Details
    • $389,900
      Pending

      Mixed-Use Building with Income Potential

      Fully occupied 6-unit building with commercial and residential spaces.
      1456 Dewey Ave, Rochester, NY 14615
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    • Contact for pricing
      2,672 SF

      Diagonally Across from Stone Ridge Plaza, Greece, NY

      Individual retail properties • 2,672 SF
      1439 Ridge Rd, Rochester, NY 14615
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    • Contact for pricing
      67,616 SF

      Homewood Suites Rochester Hotel

      95-key hotel, prime Rochester location
      400 Center Place Dr, Rochester, NY 14615
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    Similar Nearby for Lease

    • $5,000 /Mo
      9,690 SF

      Commercial Land in Opportunity Zone

      Commercial land for lease in Rochester's Opportunity Zone.
      688-694 W Ridge Rd, Rochester, NY 14615
      View Details
    • $1,950 /Mo
      3,000 SF

      Retail Property on Busy Corridor

      Three-unit commercial property with high visibility and flexible zoning.
      1164 E Ridge Rd, Rochester, NY 14615
      View Details
    • $10 SF/Yr
      71,471 SF

      630 Ridge Rd

      Retail properties • 71,471 SF
      630 Ridge Rd, Rochester, NY 14615
      View Details
    • $15 SF/Yr
      3,200 SF

      West Ridge Road Medical Office

      Prime Rochester medical office space.
      211 Ridge Rd, Rochester, NY 14615
      View Details
    • Contact for pricing
      8,400 SF

      Former Automotive Retail Store Available

      8,400 SF retail space with large parking lot for lease.
      1460 W Ridge Rd, Rochester, NY 14615
      View Details
    • $8 SF/Yr
      30,380 SF

      Prime Greece Industrial Warehouse

      Up to 30,380 SF Available Now
      105 Mclaughlin Rd, Rochester, NY 14615
      View Details
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    689 Ridgeway Ave
    Rochester, NY 14615-3911
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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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