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    Two-Story Mixed-Use Building Opportunity Title is generated by Realmo AI

    1600 Lyell Ave, Rochester, NY 14606

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    New
    For Sale
    $990,000

    Two-story mixed-use building with fully leased ground floor and five second-floor suites ready to lease.

    Type:Commercial
    Property size:
    18,900 SF
    Price / SF:
    $52/SF
    Added:
    Jun 3, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 6 at 4:29 am

    Property Features for 1600 Lyell Ave

    General Information

    Standard status
    Active
    Size
    18,900 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1974

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    Listing Contact
    Joseph Andrew Avery
    Joseph Andrew Avery

    Listing agent Joseph Andrew Avery License #10491210820

    Listing office RE/MAX Titanium

    Listing date Jun 3, 2026

    Source Elliman

    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 Titanium

    HighLights

    • Two‑story mixed‑use building built in 1974 with roughly 18,900 SF
    • Ground floor is fully leased to 3 tenants with current gross rent of $91,080/yr ($7,590/mo)
    • Occupational Safety On‑Site in Suites 1B/1C: 2,450 SF leased through August 2030 with two 3‑year options
    • Perri's Pizza: 4,300 SF in Suites 1D‑1F leased through December 2028 with three 3‑year options
    • Second floor has five leasable suites (2A/2B combined, 2C, 2D, 2E, 2F) on modified gross leases and is currently vacant
    • Capital updates include roof inspection/patching/Alum‑Kote in July 2024 and newer rooftop HVAC units, including Suite 2C installed 2022

    Overview

    This two-story mixed-use building at 1600–1604 Lyell Avenue contains approximately 18,900 square feet and offers income from a fully leased ground floor plus additional leasing opportunity on the second floor. The ground level is leased to three established tenants: Occupational Safety On-Site in Suites 1B and 1C, Perri's Pizza in Suites 1D–1F, and Sweet Ambience in Suite 1A on a month-to-month basis. The second floor is vacant and provides five leasable suites, including 2A–2B combined, 2C, 2D, 2E, and 2F.

    The property is located on the busy Lyell Avenue corridor in Monroe County, with on-site parking serving the building. Transit access is noted as Some Transit, and the area scores indicate it is Somewhat Walkable and Somewhat Bikeable.

    For investors and owner-users, this structure supports a blended approach: stabilized ground-floor tenancy with Occupational Safety On-Site leased through August 2030 with two 3-year options and Perri's Pizza leased through December 2028 with three 3-year options, while the second-floor space is ready to lease on modified gross terms. Recent capital work includes a roof inspected, patched, and Alum-Koted in July 2024, as well as newer rooftop HVAC units, including a Suite 2C installation in 2022. The sale is the building only, not the businesses, and pro forma rent projections are estimates and not guaranteed.
    Location Intelligence

    Current Use by Public Records

    Coach Tony's Gourmet ... Big Box & Wholesale Store Perri's Pizzeria Restaurant Rochester T-Shirt and Signs (Bike/Boat/Book/etc) Store Perri Franchising Inc. Restaurant AFL-CIO Advocacy Group

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.6683663
    Latitude
    43.1650533

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    FAQs

    What type of property is this?
    Mixed-use property - Two-story mixed-use building with fully leased ground floor and five second-floor suites ready to lease.
    Where is this mixed-use property located?
    The property is located at 1600 Lyell Ave Rochester, NY.
    What is the asking price?
    The asking price for this property is $990,000.
    What are key features of this property?
    This property features: Two‑story mixed‑use building built in 1974 with roughly 18,900 SF; Ground floor is fully leased to 3 tenants with current gross rent of $91,080/yr ($7,590/mo); Occupational Safety On‑Site in Suites 1B/1C: 2,450 SF leased through August 2030 with two 3‑year options
    (585) 395-9574
    We can help!
    Listing Contact
    Joseph Andrew Avery
    Joseph Andrew Avery
    Real Estate License ID: 10491210820
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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