Freestanding Building Near
For Sale
$350,000
1863 East Avenue, Rochester, NY
Freestanding 980 sqft building near Wegmans and Interstate 490.
Property Size980 SF
Price / SF$357.14
Days on Market331
Property Features for 1863 East Avenue
General Information
Standard status
Active
Size
980 SF
Property subtype
Retail
Building Details
Building Size
980 SF
Listing Agency:
Rochester Office
(585) 248-9426
Listed By:
Matthew A. Weinrieb
(585) 248-9426
Source:
Pyramidbrokerage
Added: Sep 25, 2025
Changed: Aug 20
Last Checked: Aug 21 at 5:27AM
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 Rochester Office
Investment Insights
Based on property information with market context.
This is a freestanding 980 square foot building located adjacent to a Speedway gas station and in close proximity to a Wegmans supermarket and Interstate 490.
Key Highlights
- Freestanding building offers unique opportunities.
- Adjacent to Speedway for convenient access.
- Near Wegmans, great for local amenities.
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
$13,291
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
3.80%
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%
$265,820
$265.8K
Cap Rate 7%
$189,871
$189.9K
Cap Rate 9%
$147,678
$147.7K
Market Conditions
NOI Build-Up for 980 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
$21.2K $21.60/SF
− Vacancy
−$2.2K −$2.22/SF
EGI
$19.0K $19.38/SF
− OpEx
−$5.7K −$5.81/SF
NOI
$13.3K $13.56/SF
Area
Rochester, 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%
$265,820
Cap Rate 7%
$189,871
Cap Rate 9%
$147,678
Alternative Uses
Best Use
Retail
$189.9K
$166.1K – $221.5K
NOI $13,291 @ 7.0% cap · market cap 3.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$268.5K
$234.9K – $313.2K
NOI $18,792 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
857
Businesses Nearby
243k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 44%
Dining 28%
Shops & Services 24%
Home Improvements & Furnishings 4%
Wegmans
Groceries
88,422 visits/mo
0.2 miles
McDonald's
Dining
20,196 visits/mo
0.3 miles
Speedway
Shops & Services
19,063 visits/mo
0.1 miles
Aldi
Groceries
18,992 visits/mo
0.3 miles
Family Dollar
Shops & Services
14,880 visits/mo
0.3 miles
Market
Vacancy Rate% for Retail in Rochester, NY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Wegmans Floral — 1750 east ave, rochester, ny 14610
Frequently Asked Questions
What type of property is this?
Storefront property - Freestanding 980 sqft building near Wegmans and Interstate 490.
Where is this storefront property located?
The property is located at 1863 East Avenue Rochester, NY.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Freestanding building offers unique opportunities.; Adjacent to Speedway for convenient access.; Near Wegmans, great for local amenities.
