Equestrian Property with
For Sale
$524,900
Pending
364 Island Cottage Road, Rochester, NY 14612
CommercialSale, Rochester, NY
Property Size2,140 SF
Lot Size11.55 Acres
Days on Market87
Property Features for 364 Island Cottage Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CHC
Zoning description
Residential Multi Use
Rooms
Basement
Parking
10
Subdivision
Millseat Div 01
Lot features
Irregular Lot
Elementary school district
Greece
Middle school district
Greece
High school district
Greece
Standard status
Pending
APN
262800-046-010-0001-006-121
Size
2,140 SF
Lot size
11.55 Acres
Taxes and HOA fees
Tax Annual Amount
9682
Utilities
Sewer type
Septic Tank
Heating system
Baseboard, Natural Gas
Water source
Public
Building Details
Year built
1850
Floors in Building
2
Flooring type
Hardwood, Varies, Linoleum, Vinyl
Building materials
BlownInInsulation, Block
Roof type
Shingle, Metal
Listing Agency:
Keller Williams Realty Greater Rochester
(585) 362-8900
Listed By:
Tiffany A. Hilbert · License #10401295229
(585) 729-0583
Added: Jun 10
Changed: Sep 3
Last Checked: Sep 3 at 11:06PM
MLS# R1689040
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.
Investment Insights
Based on property information with market context.
Equestrian property spanning 11.55 acres (2,140 SF) with historic farmhouse living and extensive on-site infrastructure for horses and business use. The home includes 4 bedrooms, 2 full baths, first-floor laundry, and a cozy wood-burning fireplace. Built in 1850, the residence has baseboard heat with natural gas, and flooring that varies by area (including vinyl, linoleum, and hardwood). Public water and a septic tank serve the property.
The centerpiece is a 30' x 60' barn with a metal roof and double loft for hay storage. Approximately 30' x 30' of the barn is a fully insulated workshop with propane heat, electric, cable, and a working oil pit. The horse barn has multiple door access, 5 stalls with rubber mats, water and electric service, plus a wash stall and tack room. Outside, there are 4 pastures with ElectroBraid fencing, along with 3 acres of invisible fencing. In total, there are 7 outbuildings, including at least two outbuildings that currently do not have power.
Zoned CHC, the property is described as supporting both residential and commercial arrangements, making it suitable for owners who want to combine equestrian use with flexible space.
The centerpiece is a 30' x 60' barn with a metal roof and double loft for hay storage. Approximately 30' x 30' of the barn is a fully insulated workshop with propane heat, electric, cable, and a working oil pit. The horse barn has multiple door access, 5 stalls with rubber mats, water and electric service, plus a wash stall and tack room. Outside, there are 4 pastures with ElectroBraid fencing, along with 3 acres of invisible fencing. In total, there are 7 outbuildings, including at least two outbuildings that currently do not have power.
Zoned CHC, the property is described as supporting both residential and commercial arrangements, making it suitable for owners who want to combine equestrian use with flexible space.
Key Highlights
- 11.55‑acre horse and country property with CHC zoning
- 30' x 60' metal‑roof barn with double loft for hay storage
- 30' x 30' insulated workshop with propane heat and a working oil pit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,001
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.95%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$520,020
$520.0K
Cap Rate 7%
$371,443
$371.4K
Cap Rate 9%
$288,900
$288.9K
Market Conditions
NOI Build-Up for 2,140 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$46.2K $21.60/SF
− Vacancy
−$4.6K −$2.16/SF
EGI
$41.6K $19.44/SF
− OpEx
−$15.6K −$7.29/SF
NOI
$26.0K $12.15/SF
Area
Rochester, NY
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$520,020
Cap Rate 7%
$371,443
Cap Rate 9%
$288,900
Alternative Uses
Best Use
Mixed Use
$371.4K
$325.0K – $433.4K
NOI $26,001 @ 7.0% cap · market cap 4.95%
Second Best
Apartment 5plus
$313.6K
$274.4K – $365.9K
NOI $21,953 @ 7.0% cap · market cap 4.18%
Theoretical Best
Office A
$586.2K
$513.0K – $684.0K
NOI $41,037 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
106
Businesses Nearby
Explore this area
Business Placement
Demographics for 14612, NY
34,844
Population
16,063
Households
2.2
Avg Household Size
47
Median Age
36%
College-Educated
93%
High-School Grad
17.2 sq mi
ZIP Area
2,026
Density / Sq Mi
$81,598
Median Household Income
$46,250
Median Earnings
$1,069
Median Rent
$187,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Horse & equestrian property - Equestrian property on CHC zoning with a large metal-roof barn, workshop space, and multiple stalls and pastures.
Where is this horse & equestrian property located?
The property is located at 364 Island Cottage Road Rochester, NY.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: 11.55‑acre horse and country property with CHC zoning; 30' x 60' metal‑roof barn with double loft for hay storage; 30' x 30' insulated workshop with propane heat and a working oil pit
