Building Details

Building Size 5,800 SF

Year Built 1990

Stories 1

Units 2

Listing Agency: CENTURY 21 Steve Davoli Real Estate Geneva k***@aol.com Show Phone

Listed By: Kenneth W. Harris Show Phone

Source: Elliman

Added: Nov 27, 2025 Changed: Aug 14 Last Checked: Aug 20 at 7:52AM

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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 CENTURY 21 Steve Davoli Real Estate Geneva

Investment Insights

Based on property information with market context.

This commercial property, situated on 7 acres along a high-traffic area, features two buildings totaling 5,800 square feet. The location offers visibility and accessibility, being minutes from the New York State Thruway (I-90). Positioned between Rochester and Syracuse, the property is located in Geneva, the heart of the Finger Lakes region. The flexible space is suitable for light industrial, warehouse, retail, or office operations. The site provides room for expansion, ample parking, and a central location to serve clients and operations across Upstate New York.

Key Highlights

• Prime commercial property on 7 acres with high visibility on Route 14.
• Two buildings totaling 5,800 sq ft of flexible space suitable for various uses.
• Strategic location in Geneva, the heart of the Finger Lakes, between Rochester and Syracuse.

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

$43,278

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

8.85%

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%

$865,560 $865.6K

Cap Rate 7%

$618,257 $618.3K

Cap Rate 9%

$480,867 $480.9K

Market Conditions

NOI Build-Up for 5,800 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

$55.0K $9.48/SF

− Vacancy

−$4.1K −$0.70/SF

EGI

$50.9K $8.78/SF

− OpEx

−$7.6K −$1.32/SF

NOI

$43.3K $7.46/SF

Area

Ontario County, NY

Vacancy

7.40%

Lease Rate

$9.48 /SF/Yr

Expense Ratio

15.00%

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%

$865,560

Cap Rate 7%

$618,257

Cap Rate 9%

$480,867

Alternative Uses

Best Use

Office B

$1.33M

$1.16M – $1.55M (±1% cap)

NOI $92,832 @ 7.0% cap · market cap 18.98%

Second Best

Retail

$1.07M

$937.2K – $1.25M (±1% cap)

NOI $74,976 @ 7.0% cap · market cap 15.33%

Theoretical Best

Office A

$1.74M

$1.52M – $2.03M (±1% cap)

NOI $121,522 @ 7.0% cap · market cap 24.85%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Retail space

Location Intelligence

Trade Area within ½ mile

55

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 14456, NY

19,602

Population

9,087

Households

2.2

Avg Household Size

38

Median Age

34%

College-Educated

90%

High-School Grad

77.3 sq mi

ZIP Area

254

Density / Sq Mi

$74,691

Median Household Income

$38,782

Median Earnings

$967

Median Rent

$166,700

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties ... What are key features of this property?

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Similar Off Market Nearby

• EZ Self Storage of Geneva — 3500 NY-14A, Geneva, NY 14456
• Extra Space Storage — 3635 Berry Fields Rd, Geneva, NY 14456

Frequently Asked Questions

What type of property is this?

Warehouse - Commercial property with two buildings, suitable for various business uses.

Where is this warehouse located?

The property is located at 2200 State Route 14 Hwy West Junius, NY.

What is the asking price?

The asking price for this property is $489,000.

What are key features of this property?

This property features: Prime commercial property on 7 acres with high visibility on Route 14.; Two buildings totaling 5,800 sq ft of flexible space suitable for various uses.; Strategic location in Geneva, the heart of the Finger Lakes, between Rochester and Syracuse.