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

    77 Ridgeland Rd Rochester, NY 14623-3111

    • Manufacturing properties
    • 42,348 SF
    • 3.84 lot acres
    OFF-MARKET
    Last Sale
    Oct 14, 2022
    $3,407,322
    Value Estimations
    $2,880,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2095103
    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

    • Clinical Materials Services Unit / Medical Laboratory
    • Oyagen Inc / Biotechnology Company
    • Rochester BioVenture Center / Biotechnology Company

    Property Details for 77 Ridgeland Rd

    Year built
    1967
    Lot size
    3.84 lot acres
    Property size
    42,348 SF
    Zone code
    06 - INDUSTRIAL
    Property type
    Manufacturing properties
    APN
    263200 162.07-1-13
    APU
    26320016207113

    Description

    This 45,000-square-foot industrial property in Rochester, NY, offers flexible space ideal for manufacturing, refrigerated storage, R&D, or distribution. Located at 77 Ridgeland Rd, this single-story, Class B building sits on a 3.6-acre lot (167,270 sq ft) and features 10,000 to 40,000 contiguous square feet available for lease. Built in 1967 and renovated in 2000, the property boasts 21'8" ceilings in 18,000 square feet and 12'6" ceilings in 22,500 square feet. Two dock-high doors provide convenient loading and unloading, supplemented by 113 parking spaces. The facility includes approximately 3,300 square feet of walk-in cold storage (20ft high) and 6,500 square feet of high-quality office space, along with a 2,000 sq ft annex building with a wet lab and office. The property benefits from 3-phase power (2,000 amps available), backup power generation, and a Siemens energy/building management system. Its location in Henrietta, NY, offers easy access to I-390, the NY State Thruway, Rochester's airport, and downtown Rochester, while enjoying a quiet setting with ample nearby amenities. The property is zoned industrial and is adaptable to various industries, suitable for single or multiple tenants. This exceptional facility presents a unique opportunity for businesses seeking a well-equipped and strategically located industrial space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,105,000
      ML approach
      $3,125,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,212,000
      Market price range: $530k - $2.28M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $4,515,000
      COMMERCIAL (GENERAL)
      $4,015,000
      OFFICE BUILDING
      $3,770,000
      NEIGHBORHOOD: SHOPPING CENTER
      $2,930,000
      WAREHOUSE, STORAGE
      $2,130,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.6008
    Latitude
    43.0905
    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
    $342,000
    $2,308,000
    $2,650,000
    -
    $342,000
    $2,308,000
    $2,650,000

    Comparable in this City

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      $570,000
      348,399 SF

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      View Details
    • Value Estimation
      $600,000
      59,744 SF

      1500 Jefferson Rd

      MANUFACTURING (LIGHT) • 59,744 SF
      1500 Jefferson Rd, Rochester, NY 14623-3110
      View Details
    • Value Estimation
      $250,000
      13,272 SF

      41 Saginaw Dr

      MANUFACTURING (LIGHT) • 13,272 SF
      41 Saginaw Dr, Rochester, NY 14623-3131
      View Details
    • Value Estimation
      $480,000
      81,911 SF

      111 Commerce Dr

      MANUFACTURING (LIGHT) • 81,911 SF
      111 Commerce Dr, Rochester, NY 14623-3503
      View Details
    • Value Estimation
      $550,000
      31,460 SF

      130 Commerce Dr

      MANUFACTURING (LIGHT) • 31,460 SF
      130 Commerce Dr, Rochester, NY 14623-3504
      View Details
    • Value Estimation
      $2,485,000
      50,000 SF

      73 Cook Dr

      MANUFACTURING (LIGHT) • 50,000 SF
      73 Cook Dr, Rochester, NY 14623-3509
      View Details

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      Rochester Industrial Property - $9M

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    • $9 SF/Yr
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    77 Ridgeland Rd
    Rochester, NY 14623-3111
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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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