Five-Story Hotel with
For Sale
$2,500,000
Pending
113 N Clinton Ave, Rochester, NY 14604
Downtown hotel property combines lodging accommodations with street-level storefront space and flexible occupancy configurations.
Property Size21,317 SF
Days on Market42
Property Features for 113 N Clinton Ave
General Information
Standard status
Pending
Size
21,317 SF
Property subtype
Commercial
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$18,589
Building Details
Building Size
21,317 SF
Year Built
1923
Buildings
1
Stories
5
Units
68
Listing Agency:
Peters Realty Group
(585) 747-3791
Listed By:
Jess R. Peters · License #10311210253
(585) 747-3791
Source:
Elliman
Added: Jul 21
Changed: Aug 30
Last Checked: Aug 30 at 10:57PM
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 Peters Realty Group
Investment Insights
Based on property information with market context.
Built in 1923, this five-story hotel includes 63 rooms and two storefronts at 113 N Clinton Ave in downtown Rochester. The property is currently used for emergency housing, extended-stay occupancy, and longer-term tenancy, offering a combination of lodging and street-level commercial space.
Building improvements include a newer roof and upgraded utilities. A new Certificate of Occupancy will be provided at closing. Walk Score is 93, placing the property in the “Walker's Paradise” category, while its Bike Score is 74 and Transit Score is 49.
Building improvements include a newer roof and upgraded utilities. A new Certificate of Occupancy will be provided at closing. Walk Score is 93, placing the property in the “Walker's Paradise” category, while its Bike Score is 74 and Transit Score is 49.
Key Highlights
- 63‑room hotel with 2 storefronts
- Five‑story building constructed in 1923
- Current uses include emergency housing, extended‑stay occupancy, and longer‑term tenancy
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
$123,937
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
4.96%
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%
$2,478,740
$2.5M
Cap Rate 7%
$1,770,529
$1.8M
Cap Rate 9%
$1,377,078
$1.4M
Market Conditions
NOI Build-Up for 21,317 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
$307.0K $14.40/SF
− Vacancy
−$46.0K −$2.16/SF
EGI
$260.9K $12.24/SF
− OpEx
−$137.0K −$6.43/SF
NOI
$123.9K $5.81/SF
Area
Rochester, NY
Vacancy
15.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
52.50%
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%
$2,478,740
Cap Rate 7%
$1,770,529
Cap Rate 9%
$1,377,078
Alternative Uses
Best Use
Retail
$4.13M
$3.61M – $4.82M
NOI $289,115 @ 7.0% cap · market cap 11.56%
Second Best
Hotel Hospitality
$1.77M
$1.55M – $2.07M
NOI $123,937 @ 7.0% cap · market cap 4.96%
Theoretical Best
Office A
$5.84M
$5.11M – $6.81M
NOI $408,775 @ 7.0% cap · market cap 16.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
4,324
Businesses Nearby
16k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 79%
Shops & Services 21%
Holiday Inn Rochester NY - Downtown
Hotels & Casinos
7,850 visits/mo
0.4 miles
Hilton Garden Inn Rochester Downtown
Hotels & Casinos
4,862 visits/mo
0.3 miles
Minuteman Press
Shops & Services
1,982 visits/mo
0.3 miles
Enterprise Rent-A-Car
Shops & Services
1,424 visits/mo
0.5 miles
Demographics for 14604, NY
3,138
Population
2,367
Households
1.3
Avg Household Size
39
Median Age
62%
College-Educated
94%
High-School Grad
0.3 sq mi
ZIP Area
10,460
Density / Sq Mi
$63,672
Median Household Income
$62,935
Median Earnings
$1,253
Median Rent
$705,100
Median Home Value
Market
Vacancy Rate% for Retail in Rochester, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Downtown hotel property combines lodging accommodations with street-level storefront space and flexible occupancy configurations.
Where is this hotel located?
The property is located at 113 N Clinton Ave Rochester, NY.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 63‑room hotel with 2 storefronts; Five‑story building constructed in 1923; Current uses include emergency housing, extended‑stay occupancy, and longer‑term tenancy
