Flex Space on Signalized
For Sale
$750,000
Pending
1192 Manitou Road, Greece, NY 14468
Flexible open-concept building on a signalized corner with paved parking and commercial zoning in Greece, NY.
Property Size5,136 SF
Days on Market100
Property Features for 1192 Manitou Road
General Information
Standard status
Pending
Size
5,136 SF
Property subtype
COMMERCIAL
Taxes and HOA fees
Annual Taxes
$21,312
Building Details
Building Size
5,136 SF
Year Built
2005
Listing Agency:
Blain Realty, Inc.
Listed By:
Robert P. Blain · License #31BL1064933
(585) 244-8980
Source:
Griffith-realty
Added: Jun 1
Changed: Sep 8
Last Checked: Sep 8 at 12:32PM
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 Blain Realty, Inc.
Investment Insights
Based on property information with market context.
This approximately 5,200-square-foot flex/industrial-style commercial building features an open-concept interior designed for adaptable use. The property includes ample paved parking and offers potential for a drive-thru or drive-up window, depending on tenant plans. Immediate occupancy is available. The building has operated previously as a brewery and has also been utilized as a daycare center.
Located at 1192 Manitou Road in Greece, New York, the property sits on a signalized corner intended to provide strong visibility and street presence with strong daily traffic counts.
Commercial zoning supports a variety of uses, and the current layout can be configured to fit a range of business concepts.
Located at 1192 Manitou Road in Greece, New York, the property sits on a signalized corner intended to provide strong visibility and street presence with strong daily traffic counts.
Commercial zoning supports a variety of uses, and the current layout can be configured to fit a range of business concepts.
Key Highlights
- 5,200 SF commercial building with a flexible open‑concept layout
- Signalized corner location with high traffic counts and strong street presence
- Commercial zoning (COM) supporting a variety of uses
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
$53,036
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
7.07%
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%
$1,060,720
$1.1M
Cap Rate 7%
$757,657
$757.7K
Cap Rate 9%
$589,289
$589.3K
Market Conditions
NOI Build-Up for 5,200 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
$81.1K $15.60/SF
− Vacancy
−$5.4K −$1.03/SF
EGI
$75.8K $14.57/SF
− OpEx
−$22.7K −$4.37/SF
NOI
$53.0K $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%
$1,060,720
Cap Rate 7%
$757,657
Cap Rate 9%
$589,289
Alternative Uses
Best Use
Industrial
$757.7K
$663.0K – $883.9K
NOI $53,036 @ 7.0% cap · market cap 7.07%
Second Best
Flex RnD
$703.5K
$615.6K – $820.8K
NOI $49,248 @ 7.0% cap · market cap 6.57%
Theoretical Best
Office A
$1.42M
$1.25M – $1.66M
NOI $99,715 @ 7.0% cap · market cap 13.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
22
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14468, NY
19,174
Population
7,245
Households
2.6
Avg Household Size
44
Median Age
35%
College-Educated
96%
High-School Grad
52.6 sq mi
ZIP Area
365
Density / Sq Mi
$97,476
Median Household Income
$50,399
Median Earnings
$1,160
Median Rent
$213,900
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Flexible open-concept building on a signalized corner with paved parking and commercial zoning in Greece, NY.
Where is this flex space located?
The property is located at 1192 Manitou Road Greece, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 5,200 SF commercial building with a flexible open‑concept layout; Signalized corner location with high traffic counts and strong street presence; Commercial zoning (COM) supporting a variety of uses
