Mixed-Use Property with Commercial
For Sale
Contact for pricing
1700 East Ave, Rochester, NY 14610
Combined residential and commercial improvements support live-work, office, and food-service applications under R3 zoning.
Property Size3,056 SF
Price / SF$129.25
Days on Market61
Property Features for 1700 East Ave
General Information
Standard status
Active
Size
3,056 SF
Class
B
Total Parking Spaces
6
Property subtype
Office, Mixed Use
Zoning
R3
Occupancy
100%
Lease Type
Gross
Building Details
Year Built
1926
Year Renovated
2023
Buildings
2
Tenancy
Single
Listing Agency:
Jim Pappas Commercial Real Estate
Listed By:
James (Jim) Pappas, CCIM · License #NY10311201540
Source:
Crexi
Added: Jul 1
Changed: Aug 30
Last Checked: Aug 30 at 12:04PM
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 Jim Pappas Commercial Real Estate
Investment Insights
Based on property information with market context.
This R3-zoned mixed-use property at 1700 East Ave in Rochester combines a 1,968 SF residence with a 1,088 SF commercial kitchen. The home features hardwood flooring, updated windows, a remodeled kitchen with new appliances completed in 2023, an upstairs bathroom improvement from 2023, and a new front entry door and sidelight. A detached two-car garage, rear parking lot, new garage door and opener, upgraded gutters, and refreshed landscaping add practical site improvements.
Permitted uses include single-family residence, multifamily residence, live-work space, and office use. Commercial kitchen equipment is included in the sale. The property was built in 1926 and is located on East Avenue next to Wegmans, providing an established commercial and residential setting for a flexible owner-user configuration.
Permitted uses include single-family residence, multifamily residence, live-work space, and office use. Commercial kitchen equipment is included in the sale. The property was built in 1926 and is located on East Avenue next to Wegmans, providing an established commercial and residential setting for a flexible owner-user configuration.
Key Highlights
- 1,968 SF residence paired with a 1,088 SF commercial kitchen
- R3 zoning with permitted single‑family, multifamily, live‑work, and office uses
- Commercial kitchen equipment included in the sale
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
$31,169
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
7.89%
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%
$623,380
$623.4K
Cap Rate 7%
$445,271
$445.3K
Cap Rate 9%
$346,322
$346.3K
Market Conditions
NOI Build-Up for 3,056 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
$47.7K $15.60/SF
− Vacancy
−$3.1K −$1.03/SF
EGI
$44.5K $14.57/SF
− OpEx
−$13.4K −$4.37/SF
NOI
$31.2K $10.20/SF
Area
Rochester, NY
Vacancy
6.60%
Lease Rate
$15.60 /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%
$623,380
Cap Rate 7%
$445,271
Cap Rate 9%
$346,322
Alternative Uses
Best Use
Specialty Retail
$634.4K
$555.1K – $740.1K
NOI $44,408 @ 7.0% cap · market cap 11.24%
Second Best
Office B
$627.9K
$549.4K – $732.5K
NOI $43,951 @ 7.0% cap · market cap 11.13%
Theoretical Best
Office A
$837.2K
$732.5K – $976.7K
NOI $58,602 @ 7.0% cap · market cap 14.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
937
Businesses Nearby
Explore this area
Business Placement
Demographics for 14610, NY
14,311
Population
7,823
Households
1.8
Avg Household Size
44
Median Age
66%
College-Educated
97%
High-School Grad
4.2 sq mi
ZIP Area
3,407
Density / Sq Mi
$83,260
Median Household Income
$60,448
Median Earnings
$1,181
Median Rent
$238,200
Median Home Value
Market
Vacancy Rate% for Office in Rochester, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Combined residential and commercial improvements support live-work, office, and food-service applications under R3 zoning.
Where is this mixed-use property located?
The property is located at 1700 East Ave Rochester, NY.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 1,968 SF residence paired with a 1,088 SF commercial kitchen; R3 zoning with permitted single‑family, multifamily, live‑work, and office uses; Commercial kitchen equipment included in the sale
