Mixed-Use Property with Rooftop
For Sale
$699,000
170-174 Griffith St, Rochester, NY 14607
Separate entrances support distinct residential and commercial functions with flexible interior layouts.
Property Size3,396 SF
Price / SF$205.83
Days on Market47
Property Features for 170-174 Griffith St
General Information
Standard status
Active
Size
3,396 SF
Building Details
Year Built
1885
Buildings
1
Listing Agency:
RE/MAX Plus
(585) 481-2646
Listed By:
Soo M. Kim · License #10401297655
Source:
Skinnercnyrealty
Added: Jul 14
Changed: Aug 28
Last Checked: Aug 28 at 9:05PM
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.
Built in 1885, this 3,396-square-foot mixed-use property combines residential and commercial components within two distinct spaces. The residential portion includes 2 bedrooms, 2.5 bathrooms, a full kitchen, an entertaining level with wet bar, and access to a rooftop terrace equipped with a hot tub, fire feature, dining area, and lounge areas. The commercial space offers open-concept interiors, soaring ceilings, a separate kitchen, full bathroom, and carriage doors suited to customer-facing operations or adaptable creative use.
Separate entrances serve the residential and commercial areas, allowing the components to function independently. The property is located near The Strong National Museum of Play, Rochester Museum & Science Center, George Eastman Museum, Memorial Art Gallery, High Falls, the Eastman School of Music, and downtown Rochester dining and entertainment.
Separate entrances serve the residential and commercial areas, allowing the components to function independently. The property is located near The Strong National Museum of Play, Rochester Museum & Science Center, George Eastman Museum, Memorial Art Gallery, High Falls, the Eastman School of Music, and downtown Rochester dining and entertainment.
Key Highlights
- 3,396 SF mixed‑use property built in 1885
- Two distinct spaces with separate residential and commercial entrances
- Residential component includes 2 bedrooms, 2.5 bathrooms, and a full kitchen
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
$46,059
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
6.59%
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%
$921,180
$921.2K
Cap Rate 7%
$657,986
$658.0K
Cap Rate 9%
$511,767
$511.8K
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
$73.4K $21.60/SF
− Vacancy
−$7.6K −$2.22/SF
EGI
$65.8K $19.38/SF
− OpEx
−$19.7K −$5.81/SF
NOI
$46.1K $13.56/SF
Area
Rochester, NY
Vacancy
10.30%
Lease Rate
$21.60 /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%
$921,180
Cap Rate 7%
$657,986
Cap Rate 9%
$511,767
Alternative Uses
Best Use
Retail
$658.0K
$575.7K – $767.7K
NOI $46,059 @ 7.0% cap · market cap 6.59%
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
117k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 71%
Shops & Services 13%
Hotels & Casinos 9%
Apparel 4%
McDonald's
Dining
31,020 visits/mo
0.4 miles
Dunkin' Donuts
Dining
16,744 visits/mo
0.2 miles
Dinosaur Bar-B-Que
Dining
16,689 visits/mo
0.4 miles
Burger King
Dining
13,699 visits/mo
0.2 miles
Hampton Inn
Hotels & Casinos
10,290 visits/mo
0.1 miles
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 Retail in Rochester, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Separate entrances support distinct residential and commercial functions with flexible interior layouts.
Where is this mixed-use property located?
The property is located at 170-174 Griffith St 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: 3,396 SF mixed‑use property built in 1885; Two distinct spaces with separate residential and commercial entrances; Residential component includes 2 bedrooms, 2.5 bathrooms, and a full kitchen
