Mixed-Use Property with Rooftop
For Sale
$650,000
170174 Griffith Street, Rochester, NY 14607
Two distinct spaces provide separate residential and commercial entrances beneath one roof.
Property Size3,396 SF
Price / SF$191.40
Days on Market57
Property Features for 170174 Griffith Street
General Information
Standard status
Active
Size
3,396 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$5,088
Amenities
rooftop terrace
hot tub
fire feature
dining area
lounge spaces
wet bar
carriage doors
spiral staircase
Gas
3
Hardwood
Membrane, Rubber
Rectangular
50X36
Rectangular.
Building Details
Year Built
1885
Listing Agency:
RE/MAX Plus
(585) 481-2646
Listed By:
Soo Kim · License #10401297655
(585) 481-2646
Source:
Xome
Added: Jun 17
Changed: Aug 12
Last Checked: Aug 12 at 5:26AM
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 one building. The residential portion includes two bedrooms, 2.5 bathrooms overall, a full kitchen, a dedicated entertaining level, wet bar, and rooftop terrace with a hot tub, fire feature, dining area, and lounge areas. The commercial portion offers open-concept space, soaring ceilings, a kitchen, full bath, and distinctive carriage doors. Separate entrances support independent access to each component.
The property is positioned in Rochester with access to cultural, educational, and entertainment destinations including 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 dining and entertainment. The configuration can accommodate live-work use or concepts such as a café, wine bar, creative studio, boutique retail space, gallery, wellness operation, showroom, event venue, or office.
The property is positioned in Rochester with access to cultural, educational, and entertainment destinations including 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 dining and entertainment. The configuration can accommodate live-work use or concepts such as a café, wine bar, creative studio, boutique retail space, gallery, wellness operation, showroom, event venue, or office.
Key Highlights
- 3,396‑square‑foot mixed‑use property with residential and commercial components
- Two bedrooms, 2.5 bathrooms, and 2 kitchens across two distinct spaces
- Separate entrances serve the residential and commercial areas
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
7.51%
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 7.51%
Second Best
Retail
$658.0K
$575.7K – $767.7K
NOI $46,059 @ 7.0% cap · market cap 7.09%
Theoretical Best
Office A
$930.3K
$814.0K – $1.09M
NOI $65,122 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two distinct spaces provide separate residential and commercial entrances beneath one roof.
Where is this mixed-use property located?
The property is located at 170174 Griffith Street Rochester, NY.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 3,396‑square‑foot mixed‑use property with residential and commercial components; Two bedrooms, 2.5 bathrooms, and 2 kitchens across two distinct spaces; Separate entrances serve the residential and commercial areas
