Flex Space with Rear Loading
For Sale
Contact for pricing
1181 N Greece Rd, Rochester, NY 14626
Flex space featuring a rear loading dock, 10 at-grade overhead doors, and a wide open floor plan.
Property Size20,677 SF
Price / SF$110.99
Days on Market62
Property Features for 1181 N Greece Rd
General Information
Standard status
Active
Size
20,677 SF
Property subtype
RETAIL
Warehouse & Industrial
Drive-In Doors
10
Loading
Rear Load
Listing Agency:
Donovan Real Estate Services
(716) 998-2943
Listed By:
Brian P Donovan · License #10491202934
(585) 703-3888
Source:
Moodyscre
Added: Jul 16
Changed: Aug 15
Last Checked: Sep 15 at 8:33AM
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 Donovan Real Estate Services
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.
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 = 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
$210,891
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
9.19%
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%
$4,217,820
$4.2M
Cap Rate 7%
$3,012,729
$3.0M
Cap Rate 9%
$2,343,233
$2.3M
Market Conditions
NOI Build-Up for 20,677 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
$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 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%
$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
NOI $256,081 @ 7.0% cap · market cap 11.16%
Second Best
Industrial
$3.01M
$2.64M – $3.51M
NOI $210,891 @ 7.0% cap · market cap 9.19%
Theoretical Best
Office A
$5.66M
$4.96M – $6.61M
NOI $396,502 @ 7.0% cap · market cap 17.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Rochester, NY
Questions? Ask Rey
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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
