Leased Storefront
New
For Sale
$399,900
10 University Drive, Geneseo, NY 14454
Established commercial building with on-site parking, a metal roof, and recent property updates.
Property Size2,400 SF
Days on Market7
Property Features for 10 University Drive
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$6,957
Amenities
durable metal roof
expansive on-site parking
numerous recent updates
Building Details
Building Size
2,400 SF
Year Built
2000
Buildings
1
Listing Agency:
AB Cole Real Estate, Inc.
(585) 243-2643
Listed By:
Patricia A. Cole · License #10311208149
(585) 243-2643
Source:
Highfallssir
Added: Aug 25
Changed: Aug 29
Last Checked: Aug 31 at 12:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of AB Cole Real Estate, Inc.
Investment Insights
Based on property information with market context.
Built in 2000, this storefront property is currently leased and provides an existing rental arrangement. The building includes a durable metal roof, substantial on-site parking, and multiple recent updates that support ongoing commercial use.
The property is located at 10 University Drive in Geneseo, directly across from the SUNY Geneseo campus. It may also be acquired together with 28 Main Street and 6 University Street as part of a multi-property purchase.
The property is located at 10 University Drive in Geneseo, directly across from the SUNY Geneseo campus. It may also be acquired together with 28 Main Street and 6 University Street as part of a multi-property purchase.
Key Highlights
- Currently leased with an existing rental arrangement
- Built in 2000
- Durable metal roof
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
$32,550
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
8.14%
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%
$651,000
$651.0K
Cap Rate 7%
$465,000
$465.0K
Cap Rate 9%
$361,667
$361.7K
Market Conditions
NOI Build-Up for 2,400 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
$51.8K $21.60/SF
− Vacancy
−$5.3K −$2.22/SF
EGI
$46.5K $19.38/SF
− OpEx
−$14.0K −$5.81/SF
NOI
$32.6K $13.56/SF
Area
Livingston County, NY
Vacancy
10.30%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$651,000
Cap Rate 7%
$465,000
Cap Rate 9%
$361,667
Alternative Uses
Best Use
Retail
$465.0K
$406.9K – $542.5K
NOI $32,550 @ 7.0% cap · market cap 8.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$657.5K
$575.3K – $767.0K
NOI $46,022 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
528
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14454, NY
10,759
Population
3,937
Households
2.7
Avg Household Size
28
Median Age
50%
College-Educated
95%
High-School Grad
47.6 sq mi
ZIP Area
226
Density / Sq Mi
$66,629
Median Household Income
$12,055
Median Earnings
$1,000
Median Rent
$217,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Genesee Valley Florist — 60 Main St, Geneseo, NY 14454
Frequently Asked Questions
What type of property is this?
Storefront property - Established commercial building with on-site parking, a metal roof, and recent property updates.
Where is this storefront property located?
The property is located at 10 University Drive Geneseo, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Currently leased with an existing rental arrangement; Built in 2000; Durable metal roof
