Historic Mixed-Use
For Sale
$899,900
13 Niagara Street, Canandaigua, NY 14424
Two storefronts and separate entrances support flexible commercial occupancy.
Property Size5,632 SF
Days on Market672
Property Features for 13 Niagara Street
General Information
Standard status
Active
Size
5,632 SF
Total Parking Spaces
5
Property subtype
Commercial
Zoning
C2B, Commercial
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$11,838
Amenities
private parking
city lot access
high ceilings
open areas
separate entrances
utilities separated
Building Details
Building Size
5,632 SF
Year Built
1880
Buildings
1
Stories
2
Units
2
Listing Agency:
Brix & Maven Realty Group LLC
(585) 398-7365
Listed By:
Chad J. Loblaw · License #10491210656
(585) 398-7365
Source:
Homeprocny
Added: Oct 18, 2024
Changed: Aug 18
Last Checked: Aug 19 at 3:41PM
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 Brix & Maven Realty Group LLC
Investment Insights
Based on property information with market context.
Built in 1880, this repurposed fire station combines an upper-level loft apartment of over 2800 square feet with approximately 2800 square feet of commercial space below. The commercial level includes two storefronts, separate entrances, high ceilings, and open areas. Two 1200-square-foot basements provide additional storage or operational space, while utilities are separately configured for the loft and retail areas. The structure was originally designed to support fire trucks and can accommodate heavy equipment.
The property is located at 13 Niagara Street in Canandaigua, approximately 5 minutes by car or a 20 minute walk from Canandaigua Lake. Restaurants and shops surround the property, which also includes private parking and access to a city lot. C2B, Commercial zoning is in place.
The property is located at 13 Niagara Street in Canandaigua, approximately 5 minutes by car or a 20 minute walk from Canandaigua Lake. Restaurants and shops surround the property, which also includes private parking and access to a city lot. C2B, Commercial zoning is in place.
Key Highlights
- Over 5000 square feet across the loft and commercial levels
- Commercial floor includes two storefronts with separate entrances
- Two 1200‑square‑foot basements provide additional space
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
$72,804
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
8.09%
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%
$1,456,080
$1.5M
Cap Rate 7%
$1,040,057
$1.0M
Cap Rate 9%
$808,933
$808.9K
Market Conditions
NOI Build-Up for 5,632 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
$106.8K $18.96/SF
− Vacancy
−$2.8K −$0.49/SF
EGI
$104.0K $18.47/SF
− OpEx
−$31.2K −$5.54/SF
NOI
$72.8K $12.93/SF
Area
Ontario County, NY
Vacancy
2.60%
Lease Rate
$18.96 /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%
$1,456,080
Cap Rate 7%
$1,040,057
Cap Rate 9%
$808,933
Alternative Uses
Best Use
Retail
$1.04M
$910.1K – $1.21M
NOI $72,804 @ 7.0% cap · market cap 8.09%
Second Best
Mixed Use
$814.6K
$712.8K – $950.4K
NOI $57,024 @ 7.0% cap · market cap 6.34%
Theoretical Best
Office A
$1.69M
$1.48M – $1.97M
NOI $118,002 @ 7.0% cap · market cap 13.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
835
Businesses Nearby
Explore this area
Business Placement
Demographics for 14424, NY
28,353
Population
14,482
Households
2
Avg Household Size
48
Median Age
41%
College-Educated
94%
High-School Grad
129.5 sq mi
ZIP Area
219
Density / Sq Mi
$79,135
Median Household Income
$45,885
Median Earnings
$1,228
Median Rent
$250,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two storefronts and separate entrances support flexible commercial occupancy.
Where is this mixed-use property located?
The property is located at 13 Niagara Street Canandaigua, NY.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Over 5000 square feet across the loft and commercial levels; Commercial floor includes two storefronts with separate entrances; Two 1200‑square‑foot basements provide additional space
