Building Details

Tenancy Multi

Listing Agency: RE/MAX Titanium LLC

Listed By: Joseph Andrew Avery · License #10491210820 Show Phone

Source: Nicholcityrealty

Added: Aug 30 Changed: Oct 16 Last Checked: Oct 16 at 8:38AM

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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 LLC

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Investment Insights

Based on property information with market context.

This second-floor commercial suite at 1600 Lyell Avenue encompasses 1,216 square feet and offers a flexible layout for office, studio, production, or light flex applications. The space was previously used by a t-shirt company, and rooftop HVAC serves Units 2D and 2E. In-suite utilities are separately handled, while the property includes an on-site parking area.

The building sits along the Lyell Avenue corridor in Rochester, within Monroe County. Ground-floor occupants include Occupational Safety On-Site and Perri's Pizza, providing established commercial activity within the property. The suite is identified as Unit 2D.

Key Highlights

• 1,216 square feet of second‑floor commercial space
• Flexible suitability for office, studio, production, or light flex use
• Rooftop HVAC serving Units 2D and 2E

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$11,516

Suggested Prices Based on Cap Rates

Cap Rate 5%

$230,320 $230.3K

Cap Rate 7%

$164,514 $164.5K

Cap Rate 9%

$127,956 $128.0K

What to ask about pricing

Market Conditions

NOI Build-Up for 1,216 SF

Gross rent

$19.0K $15.60/SF

− Vacancy

−$1.3K −$1.03/SF

EGI

$17.7K $14.57/SF

− OpEx

−$6.2K −$5.10/SF

NOI

$11.5K $9.47/SF

Area

Rochester, NY

Vacancy

6.60%

Lease Rate

$15.60 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$230,320

Cap Rate 7%

$164,514

Cap Rate 9%

$127,956

Alternative Uses

Best Use

Office B

$249.8K

$218.6K – $291.5K (±1% cap)

NOI $17,489 @ 7.0% cap · market cap 2,156.47%

Second Best

Industrial

$177.2K

$155.0K – $206.7K (±1% cap)

NOI $12,402 @ 7.0% cap · market cap 1,529.22%

Theoretical Best

Office A

$333.1K

$291.5K – $388.6K (±1% cap)

NOI $23,318 @ 7.0% cap · market cap 2,875.22%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

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

Top Pick Real Estate Agency Law Firm Restaurant Pharmacy Skin Care Clinic Hair Salon

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

467

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 14606, NY

28,252

Population

11,712

Households

2.4

Avg Household Size

39

Median Age

23%

College-Educated

83%

High-School Grad

9.4 sq mi

ZIP Area

3,006

Density / Sq Mi

$57,287

Median Household Income

$38,682

Median Earnings

$978

Median Rent

$150,500

Median Home Value

Market

Vacancy Rate% for Office in Rochester, NY

8.6% 2019

13.1% 2020

15.9% 2021

22.8% 2022

22.6% 2023

22.1% 2024

20.7% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Commercial suite supporting office, studio, production, and light flex uses with on-site parking.

Where is this flex space located?

The property is located at 1600 Lyell Ave Unit 2D Rochester, NY.

What are key features of this property?

This property features: 1,216 square feet of second‑floor commercial space; Flexible suitability for office, studio, production, or light flex use; Rooftop HVAC serving Units 2D and 2E