Listing Agency: Anchor Real Estate Advisors Show Phone

Listed By: Joseph F. "Joe" Rowley, Jr. · License #10491204545 Show Phone

Source: Moodyscre

Added: Jul 16 Changed: Oct 25 Last Checked: Oct 30 at 2:18PM

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Investment Insights

Based on property information with market context.

Flex space totaling 20,677 SF with a wide open floor plan designed for adaptable use. The property includes a rear loading dock and 10 at-grade overhead doors to support loading and tenant operations.

The building is located at 1181 N Greece Rd, Rochester, NY 14626, providing practical, flexible space for users that need both office and warehouse-style functionality.

The open layout and door configuration make the space suitable for tenants seeking flexible space where layout can be tailored to their workflow. It can be used as flex space as well.

Key Highlights

• 20,677 SF flex space
• Rear loading dock
• 10 at‑grade overhead doors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$210,891

Cap Rate

9.19%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,217,820 $4.2M

Cap Rate 7%

$3,012,729 $3.0M

Cap Rate 9%

$2,343,233 $2.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 20,677 SF

Gross rent

$322.6K $15.60/SF

− Vacancy

−$21.3K −$1.03/SF

EGI

$301.3K $14.57/SF

− OpEx

−$90.4K −$4.37/SF

NOI

$210.9K $10.20/SF

Area

Rochester, NY

Vacancy

6.60%

Lease Rate

$15.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,217,820

Cap Rate 7%

$3,012,729

Cap Rate 9%

$2,343,233

Alternative Uses

Best Use

Warehouse

$3.66M

$3.20M – $4.27M (±1% cap)

NOI $256,081 @ 7.0% cap · market cap 11.16%

Second Best

Industrial

$3.01M

$2.64M – $3.51M (±1% cap)

NOI $210,891 @ 7.0% cap · market cap 9.19%

Theoretical Best

Office A

$5.66M

$4.96M – $6.61M (±1% cap)

NOI $396,502 @ 7.0% cap · market cap 17.28%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Auto Plus Auto ... Auto Parts Store Pep Boys (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Real Estate Agency Building Supply Restaurant Law Firm Dental Office Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

10

Drive-in doors

Location Intelligence

Trade Area within ½ mile

199

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 14626, NY

30,032

Population

13,717

Households

2.2

Avg Household Size

47

Median Age

32%

College-Educated

91%

High-School Grad

13.4 sq mi

ZIP Area

2,241

Density / Sq Mi

$78,785

Median Household Income

$47,479

Median Earnings

$1,206

Median Rent

$185,300

Median Home Value

Market

Vacancy Rate% for Industrial in Rochester, NY

7.2% 2019

6.6% 2020

4.4% 2021

4.5% 2022

5.3% 2023

5.3% 2024

6.7% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Flex space featuring a rear loading dock, 10 at-grade overhead doors, and a wide open floor plan.

Where is this flex space located?

The property is located at 1181 N Greece Rd Rochester, NY.

What is the asking price?

The asking price for this property is $2,295,000.

What are key features of this property?

This property features: 20,677 SF flex space; Rear loading dock; 10 at‑grade overhead doors