Mixed-Use Live-Work
For Sale
$699,000
170-174 Griffith Street, Rochester, NY 14607
Mixed-use building with two separate entrances and flexible indoor spaces plus a rooftop terrace.
Property Size3,396 SF
Price / SF$205.83
Days on Market81
Property Features for 170-174 Griffith Street
General Information
Standard status
Active
Size
3,396 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$1,985
Amenities
Central Air, Gas
Hardwood
Membrane, Rubber
multi use
Rectangular
50X36
Rectangular.
Building Details
Year Built
1885
Listing Agency:
RE/MAX Plus
(585) 279-8200
Listed By:
Soo Kim · License #10401297655
(585) 481-2646
Source:
Xome
Added: Jun 17
Changed: Sep 4
Last Checked: Aug 25 at 9:06AM
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 Plus
Investment Insights
Based on property information with market context.
170–174 Griffith Street is a mixed-use property designed to combine residential and commercial space under one roof. The layout includes two bedrooms, 2.5 bathrooms, and two kitchens split between two distinct areas, each with its own separate entrance. The residential component features an open, multi-level entertaining layout with a dedicated level that includes a wet bar and a half bath, along with expansive sliding glass doors. The rooftop terrace offers an outdoor entertaining area with a hot tub, fire feature, dining area, and multiple lounge spaces.
The commercial component provides expansive open-concept interiors with soaring ceilings, plus its own kitchen and full bath. The property is presented with iconic carriage doors that open to connect the interior space with the energy of the surrounding neighborhood.
With walk and bike accessibility scoring well and some transit access, the property is positioned for a variety of uses that benefit from an approachable, destination-style layout.
The commercial component provides expansive open-concept interiors with soaring ceilings, plus its own kitchen and full bath. The property is presented with iconic carriage doors that open to connect the interior space with the energy of the surrounding neighborhood.
With walk and bike accessibility scoring well and some transit access, the property is positioned for a variety of uses that benefit from an approachable, destination-style layout.
Key Highlights
- Mixed‑use property built in 1885 with 3,396 SF and flexible living/work space under one roof.
- Two separate entrances for residential and commercial components, each with its own kitchen (2 kitchens total).
- Residential unit features 2 bedrooms, 2.5 bathrooms total, and an entertaining level with wet bar and half bath.
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
$48,841
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
6.99%
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%
$976,820
$976.8K
Cap Rate 7%
$697,729
$697.7K
Cap Rate 9%
$542,678
$542.7K
Market Conditions
NOI Build-Up for 3,396 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
$81.5K $24.00/SF
− Vacancy
−$16.4K −$4.82/SF
EGI
$65.1K $19.18/SF
− OpEx
−$16.3K −$4.79/SF
NOI
$48.8K $14.38/SF
Area
Rochester, NY
Vacancy
20.10%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
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%
$976,820
Cap Rate 7%
$697,729
Cap Rate 9%
$542,678
Alternative Uses
Best Use
Office B
$697.7K
$610.5K – $814.0K
NOI $48,841 @ 7.0% cap · market cap 6.99%
Second Best
Mixed Use
$589.4K
$515.8K – $687.7K
NOI $41,261 @ 7.0% cap · market cap 5.90%
Theoretical Best
Office A
$930.3K
$814.0K – $1.09M
NOI $65,122 @ 7.0% cap · market cap 9.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,776
Businesses Nearby
Explore this area
Business Placement
Demographics for 14607, NY
16,298
Population
11,971
Households
1.4
Avg Household Size
32
Median Age
60%
College-Educated
95%
High-School Grad
1.7 sq mi
ZIP Area
9,587
Density / Sq Mi
$56,270
Median Household Income
$44,018
Median Earnings
$1,129
Median Rent
$304,100
Median Home Value
Market
Vacancy Rate% for Office in Rochester, NY
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Mixed-use building with two separate entrances and flexible indoor spaces plus a rooftop terrace.
Where is this live-work space located?
The property is located at 170-174 Griffith Street Rochester, NY.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Mixed‑use property built in 1885 with 3,396 SF and flexible living/work space under one roof.; Two separate entrances for residential and commercial components, each with its own kitchen (2 kitchens total).; Residential unit features 2 bedrooms, 2.5 bathrooms total, and an entertaining level with wet bar and half bath.
