Leased Storefront
New
For Sale
$399,900
10 University Drive, Geneseo, NY 14454
CommercialSale, Geneseo, NY
Property Size2,400 SF
Lot Size0.82 Acres
Price / SF$166.63
Days on Market4
Property Features for 10 University Drive
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
01
Zoning description
Commercial
Parking
15
Parking features
Paved or Surfaced
Lot features
Rectangular, Rectangular Lot
Elementary school district
Geneseo
Middle school district
Geneseo
High school district
Geneseo
Directions
Take Main Street to University on corner.
Subdivision
Geneseo-Village-242601
Standard status
Active
APN
242601-080-012-0003-068-000-0000
Size
2,400 SF
Lot size
0.82 Acres
Taxes and HOA fees
Tax Annual Amount
6957
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
on-site parking
Building Details
Year built
2000
Floors in Building
1
Flooring type
Varies, Linoleum, Vinyl, Hardwood
Building materials
Block
Roof type
Metal
Listing Agency:
AB Cole Real Estate, Inc.
(585) 243-2643
Listed By:
Patricia A. Cole · License #10311208149
(585) 243-2643
Added: Aug 25
Last Checked: Aug 28 at 4:06AM
MLS# R1709922
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 2,400-square-foot storefront property occupies 0.82 acres and was built in 2000. The block-construction building has a metal roof, varied flooring that includes linoleum, vinyl, and hardwood, plus natural-gas forced-air heating and central air conditioning. Public water and sewer serve the property, and paved on-site parking is provided. The building is currently leased and generating rental income.
The property is located across from the SUNY Geneseo campus in Geneseo, New York. Its University Drive setting places the building directly opposite the campus, while the existing storefront configuration, parking, and building systems support ongoing commercial occupancy. The property may also be acquired together with 28 Main Street and 6 University Street.
The property is located across from the SUNY Geneseo campus in Geneseo, New York. Its University Drive setting places the building directly opposite the campus, while the existing storefront configuration, parking, and building systems support ongoing commercial occupancy. The property may also be acquired together with 28 Main Street and 6 University Street.
Key Highlights
- 2,400‑square‑foot storefront building on 0.82 acres
- Currently leased and generating rental income
- Across from the SUNY Geneseo campus
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
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Frequently Asked Questions
What type of property is this?
Storefront property - Currently leased building with paved parking, recent updates, and a location across from the SUNY Geneseo campus.
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: 2,400‑square‑foot storefront building on 0.82 acres; Currently leased and generating rental income; Across from the SUNY Geneseo campus
