Two-Story Brewery Property with Beer
For Sale
$1,100,000
1221 Empire Boulevard, Rochester, NY 14609
Commercial building with kitchen, full bar, flexible upper-level space, outdoor gathering area, and on-site parking.
Property Size9,280 SF
Price / SF$118.53
Days on Market21
Property Features for 1221 Empire Boulevard
General Information
Standard status
Active
Size
9,280 SF
Total Parking Spaces
51
Additional Details
Patio
Yes
Building Details
Year Built
1998
Stories
2
Listing Agency:
RE/MAX Plus
(585) 787-8888
Listed By:
John Antetomaso · License #49AN1151017
Source:
Skinnercnyrealty
Added: Aug 10
Changed: Aug 30
Last Checked: Aug 30 at 5:39AM
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 RE/MAX Plus
Investment Insights
Based on property information with market context.
This two-story commercial property contains approximately 9,280 square feet and was built in 1998. The first floor includes a kitchen area and full bar, while the second floor offers open space suitable for storage or continued use based on the final operation. An outdoor beer garden extends the property’s usable area, and some interior contents are included in the sale.
The property is located in the LaSalle's Landing District opposite Irondequoit Bay. On-site parking is provided by a 51-car lot. The building’s existing hospitality-oriented layout supports restaurant use or another facility configuration, subject to the final use.
The property is located in the LaSalle's Landing District opposite Irondequoit Bay. On-site parking is provided by a 51-car lot. The building’s existing hospitality-oriented layout supports restaurant use or another facility configuration, subject to the final use.
Key Highlights
- Approximately 9,280 square feet across 2 floors
- First‑floor kitchen space and full bar area
- Second‑floor open space for storage or full use
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
$94,649
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
8.60%
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%
$1,892,980
$1.9M
Cap Rate 7%
$1,352,129
$1.4M
Cap Rate 9%
$1,051,656
$1.1M
Market Conditions
NOI Build-Up for 9,280 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
$144.8K $15.60/SF
− Vacancy
−$9.6K −$1.03/SF
EGI
$135.2K $14.57/SF
− OpEx
−$40.6K −$4.37/SF
NOI
$94.6K $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%
$1,892,980
Cap Rate 7%
$1,352,129
Cap Rate 9%
$1,051,656
Alternative Uses
Best Use
Specialty Retail
$1.93M
$1.69M – $2.25M
NOI $134,851 @ 7.0% cap · market cap 12.26%
Second Best
Industrial
$1.35M
$1.18M – $1.58M
NOI $94,649 @ 7.0% cap · market cap 8.60%
Theoretical Best
Office A
$2.54M
$2.22M – $2.97M
NOI $177,953 @ 7.0% cap · market cap 16.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
74
Businesses Nearby
Explore this area
Business Placement
Demographics for 14609, NY
41,329
Population
19,404
Households
2.1
Avg Household Size
37
Median Age
33%
College-Educated
88%
High-School Grad
7.4 sq mi
ZIP Area
5,585
Density / Sq Mi
$61,933
Median Household Income
$42,046
Median Earnings
$1,122
Median Rent
$144,500
Median Home Value
Market
Vacancy Rate% for Industrial in Rochester, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Brewery - Commercial building with kitchen, full bar, flexible upper-level space, outdoor gathering area, and on-site parking.
Where is this brewery located?
The property is located at 1221 Empire Boulevard Rochester, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Approximately 9,280 square feet across 2 floors; First‑floor kitchen space and full bar area; Second‑floor open space for storage or full use
