Mixed-Use Building with
For Sale
Contact for pricing
1274-1278 Dewey Ave, Rochester, NY 14613
Fully occupied mixed-use building with two storefronts and three apartments, substantially renovated with new windows and mini-split systems.
Property Size3,858 SF
Price / SF$129.57
Days on Market88
Property Features for 1274-1278 Dewey Ave
General Information
Standard status
Active
Size
3,858 SF
Total Parking Spaces
2
Property subtype
Mixed Use, Multifamily, Retail
Zoning
C-1
Occupancy
100%
Investment Type
Stabilized
Additional Details
Highway Access
Yes
Multifamily Units
3
Building Details
Year Built
1900
Buildings
1
Stories
2
Units
5
Tenancy
Multi
Listing Agency:
Howard Hanna Real Estate Services
Listed By:
Courtney Crandall · License #10401355052
Source:
Crexi
Added: Jun 12
Changed: Sep 6
Last Checked: Aug 25 at 9:18AM
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 Howard Hanna Real Estate Services
Investment Insights
Based on property information with market context.
This fully occupied mixed-use building includes 2 commercial storefronts and 3 residential apartments: a studio, a one-bedroom, and a two-bedroom. All units are currently occupied. The property has undergone extensive renovations, with recent improvements including new windows, updated kitchens and bathrooms, mini-split systems throughout, along with new flooring and ceilings. Photos were taken after renovation and before tenants moved in.
The City of Rochester location provides convenient access to public transportation, shopping, dining, employment centers, and major highways. The property is supported by a certificate of occupancy that is good through 12/28.
Current rental income is reported as over $6,300 per month. With substantial interior upgrades already completed, the building is presented as turnkey with reduced maintenance concerns.
The City of Rochester location provides convenient access to public transportation, shopping, dining, employment centers, and major highways. The property is supported by a certificate of occupancy that is good through 12/28.
Current rental income is reported as over $6,300 per month. With substantial interior upgrades already completed, the building is presented as turnkey with reduced maintenance concerns.
Key Highlights
- Fully occupied mixed‑use building with 2 commercial storefronts and 3 residential apartments.
- Apartment unit mix includes a studio, 1‑bedroom, and 2‑bedroom, all currently producing $6,300+/mo in rent.
- Extensive renovations include new windows, updated kitchens and bathrooms, and refreshed flooring and ceilings.
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
$44,401
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
8.88%
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%
$888,020
$888.0K
Cap Rate 7%
$634,300
$634.3K
Cap Rate 9%
$493,344
$493.3K
Market Conditions
NOI Build-Up for 3,858 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
$67.1K $17.40/SF
− Vacancy
−$3.7K −$0.96/SF
EGI
$63.4K $16.44/SF
− OpEx
−$19.0K −$4.93/SF
NOI
$44.4K $11.51/SF
Area
Rochester, NY
Vacancy
5.51%
Lease Rate
$17.40 /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%
$888,020
Cap Rate 7%
$634,300
Cap Rate 9%
$493,344
Alternative Uses
Best Use
Retail
$747.5K
$654.1K – $872.1K
NOI $52,325 @ 7.0% cap · market cap 10.47%
Second Best
Mixed Use
$669.6K
$585.9K – $781.3K
NOI $46,875 @ 7.0% cap · market cap 9.38%
Theoretical Best
Office A
$1.06M
$924.8K – $1.23M
NOI $73,981 @ 7.0% cap · market cap 14.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
553
Businesses Nearby
Explore this area
Business Placement
Demographics for 14613, NY
14,882
Population
6,561
Households
2.3
Avg Household Size
31
Median Age
14%
College-Educated
77%
High-School Grad
1.9 sq mi
ZIP Area
7,833
Density / Sq Mi
$33,370
Median Household Income
$29,530
Median Earnings
$939
Median Rent
$108,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully occupied mixed-use building with two storefronts and three apartments, substantially renovated with new windows and mini-split systems.
Where is this mixed-use property located?
The property is located at 1274-1278 Dewey Ave Rochester, NY.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Fully occupied mixed‑use building with 2 commercial storefronts and 3 residential apartments.; Apartment unit mix includes a studio, 1‑bedroom, and 2‑bedroom, all currently producing $6,300+/mo in rent.; Extensive renovations include new windows, updated kitchens and bathrooms, and refreshed flooring and ceilings.
