Medical Office Condominium with Private Exam
For Sale
$269,900
61E Monroe Avenue, Pittsford, NY 14534
CommercialSale, Pittsford, NY
Property Size1,432 SF
Lot Size0.15 Acres
Price / SF$188.48
Days on Market41
Property Features for 61E Monroe Avenue
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
MU-OF
Zoning description
Business
Rooms
Basement
Parking
23
Parking features
Paved or Surfaced
Subdivision
Pittsford Village Green
Lot features
Irregular Lot
Elementary school district
Pittsford
Middle school district
Pittsford
High school district
Pittsford
Directions
West on Monroe Avenue from the Village of Pittsford and left into the Pittsford Village Green development (before the Erie Canal). Follow the building numbers. Building 61 is on the left.
Standard status
Active
APN
264601-151-180-0004-002-000-000E
Size
1,432 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
11142
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Building Details
Year built
1986
Floors in Building
1
Number of units
2
Flooring type
Hardwood, Varies, Vinyl, Linoleum
Building materials
Brick, Block, Frame
Roof type
Asphalt
Listing Agency:
RE/MAX Realty Group · RE/MAX International
(585) 248-0250
Listed By:
Carmen G Lonardo · License #10301204632
(585) 218-6822
Added: Jul 23
Changed: Aug 19
Last Checked: Sep 1 at 8:06PM
MLS# R1701238
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.
This 1,432-square-foot medical office condominium, built in 1986, is arranged for an established practice or another permitted professional or service-oriented use. The interior includes a waiting area, reception desk, office areas, three private exam rooms, three half baths, file storage, a utility and lab room, and an executive office or conference room. Additional storage is located in the lower level, while three separate entrances support the potential for single or multiple uses. The current medical practice is scheduled to end in May 2027.
The property carries MU-OF zoning within Pittsford Village and is part of a professionally maintained office condominium setting. Paved surface parking is available, with sidewalks connecting the offices to Pittsford Village, nearby canal-side paths, larger business areas, and expressways. Building systems include natural-gas forced-air heat, central air, public sewer, and an asphalt roof.
The property carries MU-OF zoning within Pittsford Village and is part of a professionally maintained office condominium setting. Paved surface parking is available, with sidewalks connecting the offices to Pittsford Village, nearby canal-side paths, larger business areas, and expressways. Building systems include natural-gas forced-air heat, central air, public sewer, and an asphalt roof.
Key Highlights
- 1,432 SF medical office condominium in Pittsford Village
- MU‑OF zoning permits professional and service‑oriented uses
- Three private exam rooms plus waiting and reception areas
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
$16,510
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
6.12%
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%
$330,200
$330.2K
Cap Rate 7%
$235,857
$235.9K
Cap Rate 9%
$183,444
$183.4K
Market Conditions
NOI Build-Up for 1,432 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
$31.4K $21.96/SF
− Vacancy
−$3.9K −$2.75/SF
EGI
$27.5K $19.22/SF
− OpEx
−$11.0K −$7.69/SF
NOI
$16.5K $11.53/SF
Area
Monroe County, NY
Vacancy
12.50%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
40.00%
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%
$330,200
Cap Rate 7%
$235,857
Cap Rate 9%
$183,444
Alternative Uses
Best Use
Healthcare Medical
$235.9K
$206.4K – $275.2K
NOI $16,510 @ 7.0% cap · market cap 6.12%
Second Best
Office B
$154.0K
$134.8K – $179.7K
NOI $10,780 @ 7.0% cap · market cap 3.99%
Theoretical Best
Specialty Retail
$274.9K
$240.5K – $320.7K
NOI $19,243 @ 7.0% cap · market cap 7.13%
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
902
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14534, NY
32,834
Population
12,913
Households
2.5
Avg Household Size
46
Median Age
72%
College-Educated
98%
High-School Grad
32.3 sq mi
ZIP Area
1,017
Density / Sq Mi
$144,832
Median Household Income
$75,938
Median Earnings
$1,676
Median Rent
$343,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Mixed-use office condominium with a medical layout, multiple entrances, lower-level storage, and access to maintained surface parking.
Where is this medical office space located?
The property is located at 61E Monroe Avenue Pittsford, NY.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: 1,432 SF medical office condominium in Pittsford Village; MU‑OF zoning permits professional and service‑oriented uses; Three private exam rooms plus waiting and reception areas
