Mixed-Use Property with Rooftop
For Sale
$625,000
170-174 Griffith Street, Rochester, NY 14607
CommercialSale, Rochester, NY
Property Size3,396 SF
Lot Size0.04 Acres
Price / SF$184.04
Days on Market64
Property Features for 170-174 Griffith Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
multi use
Zoning description
Residential Multi Use
Subdivision
Wadsworth
Lot features
Rectangular, Rectangular Lot
Elementary school district
Rochester
Middle school district
Rochester
High school district
Rochester
Directions
from 490 exit Goodman St to Broadway St to Pearl St to Griffith St
Standard status
Active
APN
261400-121-400-0002-023-002-0000
Size
3,396 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
5088
Utilities
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Amenities
hot tub
fire feature
dining area
lounge spaces
rooftop terrace
wet bar
sliding glass doors
carriage doors
Building Details
Year built
1885
Floors in Building
3
Flooring type
Hardwood, Varies
Roof type
Rubber, Membrane
Listing Agency:
RE/MAX Plus · RE/MAX International
(585) 279-8200
Listed By:
Soo M. Kim · License #10401297655
(585) 481-2646
Added: Jun 20
Changed: Aug 21
Last Checked: Aug 22 at 1:06AM
MLS# R1692451
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located at 170-174 Griffith Street in Rochester, this 3,396-square-foot mixed-use property combines residential and commercial areas within one building. The residential portion includes two bedrooms, 2.5 bathrooms, a kitchen, a dedicated entertaining level, wet bar, and rooftop terrace with a hot tub, fire feature, dining area, and lounge areas. Hardwood flooring, central air, forced-air heating, and public water are among the existing features.
The commercial component has an open layout, high ceilings, its own kitchen and full bathroom, and carriage-style doors. Separate entrances serve the residential and commercial sections, supporting distinct access between the two areas. Built in 1885, the property sits on 0.0413 acres and is identified for multi-use zoning. Its Rochester setting provides access to cultural, educational, entertainment, dining, and downtown destinations named in the listing.
The commercial component has an open layout, high ceilings, its own kitchen and full bathroom, and carriage-style doors. Separate entrances serve the residential and commercial sections, supporting distinct access between the two areas. Built in 1885, the property sits on 0.0413 acres and is identified for multi-use zoning. Its Rochester setting provides access to cultural, educational, entertainment, dining, and downtown destinations named in the listing.
Key Highlights
- 3,396‑square‑foot mixed‑use building on 0.0413 acres
- Two bedrooms, 2.5 bathrooms, and two kitchens across separate residential and commercial areas
- Rooftop terrace with hot tub, fire feature, dining area, and multiple lounge spaces
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
$41,261
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
6.60%
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%
$825,220
$825.2K
Cap Rate 7%
$589,443
$589.4K
Cap Rate 9%
$458,456
$458.5K
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
−$7.3K −$2.16/SF
EGI
$66.0K $19.44/SF
− OpEx
−$24.8K −$7.29/SF
NOI
$41.3K $12.15/SF
Area
Rochester, NY
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$825,220
Cap Rate 7%
$589,443
Cap Rate 9%
$458,456
Alternative Uses
Best Use
Mixed Use
$589.4K
$515.8K – $687.7K
NOI $41,261 @ 7.0% cap · market cap 6.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$930.3K
$814.0K – $1.09M
NOI $65,122 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two separately entered components combine residential comfort with open commercial space and distinctive outdoor amenities.
Where is this mixed-use property located?
The property is located at 170-174 Griffith Street Rochester, NY.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: 3,396‑square‑foot mixed‑use building on 0.0413 acres; Two bedrooms, 2.5 bathrooms, and two kitchens across separate residential and commercial areas; Rooftop terrace with hot tub, fire feature, dining area, and multiple lounge spaces
