Historic Mixed-Use Fire
For Sale
$899,900
13 Niagara Street, Canandaigua, NY 14424
Two storefronts and separate entrances support flexible commercial occupancy.
Property Size5,632 SF
Price / SF$159.78
Days on Market13
Property Features for 13 Niagara Street
General Information
Standard status
Active
Size
5,632 SF
Property subtype
CommercialSale
Listing Agency:
Brix & Maven Realty Group LLC
(585) 398-7365
Listed By:
Chad J. Loblaw · License #10491210656
(585) 398-7365
Source:
Nicholcityrealty
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 28 at 7:54PM
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 as a fire station, this two-level mixed-use property combines a contemporary loft apartment with approximately 2,800 square feet of commercial space. The commercial floor includes two storefronts and independent entrances, while the overall property measures 5,632 square feet and features high ceilings and open areas. Two 1,200-square-foot basements add substantial storage or utility space, and the loft and commercial areas have separate utilities.
The property is a 5-minute drive or 20-minute walk from Canandaigua Lake, with restaurants and shops in the surrounding area. Private parking is included, along with access to a city lot. Its original heavy-duty construction was designed to support fire trucks and can accommodate heavy equipment.
The property is a 5-minute drive or 20-minute walk from Canandaigua Lake, with restaurants and shops in the surrounding area. Private parking is included, along with access to a city lot. Its original heavy-duty construction was designed to support fire trucks and can accommodate heavy equipment.
Key Highlights
- 1880‑built former fire station converted to mixed‑use space
- 5,632 square feet with high ceilings and open areas
- Approximately 2,800 square feet of commercial space with two storefronts
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
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: 1880‑built former fire station converted to mixed‑use space; 5,632 square feet with high ceilings and open areas; Approximately 2,800 square feet of commercial space with two storefronts
