Mixed-Use Property with Rooftop
New
For Sale
$599,000
170-174 Griffith Street, Rochester, NY 14607
CommercialSale, Rochester, NY
Property Size3,396 SF
Lot Size0.04 Acres
Price / SF$176.38
Days on Market2
Property Features for 170-174 Griffith Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R2
Zoning description
Residential Multi Use
Subdivision
Wadsworth
Lot features
Rectangular, Rectangular Lot
Elementary school district
Rochester
Middle school district
Rochester
High school district
Rochester
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, Hot Water(Heating)
Cooling system
Central Air
Water source
Public
Amenities
hot tub
fire feature
dining area
lounge spaces
Building Details
Year built
1885
Floors in Building
3
Flooring type
Varies, Hardwood
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: Oct 1
Last Checked: Oct 2 at 8:06AM
MLS# R1718985
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.
At 170–174 Griffith Street, this 3,396-square-foot mixed-use property is arranged as two sections that can connect or remain independent. The residential portion has two bedrooms, 1.5 bathrooms, a full kitchen, and an entertaining level with a wet bar and sliding glass doors. A custom spiral staircase leads to a rooftop terrace with a hot tub, fire feature, dining area, and lounge spaces. The second section includes open space, high ceilings, a second kitchen, full bathroom, and office; its carriage doors can also provide access for multiple vehicles. The building dates to 1885, sits on a 0.0413-acre lot, and is zoned R2.
The property is near the Strong National Museum of Play, Rochester Museum & Science Center, George Eastman Museum, Memorial Art Gallery, High Falls, and the Eastman School of Music, as well as downtown Rochester dining and entertainment. The separate or connected layout supports residential, business, rental, or live-work arrangements.
The property is near the Strong National Museum of Play, Rochester Museum & Science Center, George Eastman Museum, Memorial Art Gallery, High Falls, and the Eastman School of Music, as well as downtown Rochester dining and entertainment. The separate or connected layout supports residential, business, rental, or live-work arrangements.
Key Highlights
- 3,396‑square‑foot mixed‑use property with two sections that can connect or remain separate
- Residential section has 2 bedrooms, 1.5 bathrooms, and a full kitchen
- Rooftop terrace includes a hot tub, fire feature, dining area, and 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
$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
8.15%
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 8.15%
Second Best
Retail
$658.0K
$575.7K – $767.7K
NOI $46,059 @ 7.0% cap · market cap 7.69%
Theoretical Best
Office A
$930.3K
$814.0K – $1.09M
NOI $65,122 @ 7.0% cap · market cap 10.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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
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Market
Vacancy Rate% for Office in Rochester, NY
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two sections can connect or operate separately, supporting residential, business, or combined live-work use.
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 $599,000.
What are key features of this property?
This property features: 3,396‑square‑foot mixed‑use property with two sections that can connect or remain separate; Residential section has 2 bedrooms, 1.5 bathrooms, and a full kitchen; Rooftop terrace includes a hot tub, fire feature, dining area, and lounge spaces
