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    189-199 Lake Ave Rochester, NY 14608

    View on Map
    Sponsored
    Pending
    $1,700,000

    MULTI_FAMILY - Rochester, NY

    Property size:
    18,540 SF
    Lot size:
    0.39 Acres
    Days on Market:
    15
    Last Refresh:
    Mar 13 at 3:06 pm

    Property Features for 189-199 Lake Ave

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Pending
    Security features
    Security
    Rooms
    Bedroom 18, Bedroom 11, Bedroom 17, Basement, Bedroom 13, Bedroom 15, Bedroom 26, Bedroom 24, Bedroom 6, Bedroom 21, Bedroom 25, Bedroom 12, Bedroom 8, Bedroom 9, Bedroom 10, Bedroom 16, Bedroom 7, Bedroom 23, Bedroom 20, Bedroom 4, Bedroom 3, Bedroom 5, Bedroom 1, Bedroom 19, Bedroom 22, Bedroom 2, Bedroom 14
    Bedrooms
    26
    APN
    261400-105-600-0001-011-003-0000
    Parking features
    Garage, Driveway
    Exterior features
    BlacktopDriveway
    Appliances
    GasWaterHeater
    Size
    18,540 SF
    Lot size
    0.39 Acres

    Utilities

    Heating system
    Baseboard, Natural Gas, Hot Water(Heating)
    Water source
    Public

    Building Details

    Year built
    1935
    Floors in Building
    4
    Number of units
    26
    Flooring type
    Tile, Hardwood, Varies
    Building materials
    Brick, CopperPlumbing
    Roof type
    Membrane, Flat, Rubber

    We can help!

    Listing Contact
    Colleen M. Bracci
    Colleen M. Bracci

    RE/MAX Realty Group (585) 248-0250

    Listing agent Colleen M. Bracci (585) 719-3500 License #30BR1133356

    Listing date Feb 26, 2026

    MLS# R1635659 Listing URL

    Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Rochester Multifamily Investment Opportunity

    This well-maintained brick building in Rochester, NY, features 26 units, comprising 15 studios and 11 one-bedroom apartments. Twenty-three units have private bathrooms, while 3 units share 2 bathrooms and a shower across the hall. The property has been cared for with recent updates, including a silver-sealed roof installed 4 years ago and replacement windows in most units. Surveillance cameras are installed and monitored by management. Mailboxes are conveniently located in the front foyer. All building materials in storage will transfer with the property (tools excluded). Parking and dumpster service are shared with building 205, providing additional convenience for tenants. The property lot size is 0.39 acres and the building size is 18,540 square feet. Currently, 5 units are vacant, but applicants are ready to move in once make-ready is complete. Seller may consider financing with 50% down, 8% interest over 30 yrs with balloon in five years.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.626292
    Latitude
    43.167965

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    FAQs

    What type of property is this?
    Apartment building - Well-maintained 26-unit building with recent updates and income potential.
    Where is this apartment building located?
    The property is located at 189-199 Lake Ave Rochester, NY.
    What is the asking price?
    The asking price for this property is $1,700,000.
    What are key features of this property?
    This property features: - Well-maintained brick building with 26 units (15 studios, 11 one-bedroom apartments).; - 23 units have private bathrooms.; - Recent updates include a silver-sealed roof (4 years ago) and replacement windows in most units.
    (585) 719-3566
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    189-199 Lake Ave Rochester, NY 14608
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    Rochester, NY 14608
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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
    189-199 Lake Ave Rochester, NY 14608
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    We can help!
    Listing Contact
    Colleen M. Bracci
    Colleen M. Bracci
    Real Estate License ID: 30BR1133356
    (585) 719-3566 (585) 719-3500 (585) 507-3468
    Learn more
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