Medical & Office
For Sale
Contact for pricing
200 White Spruce Blvd, Rochester, NY 14623
Recently renovated medical and office building with 88% occupancy and updated lobby, common areas, roof, exterior, and parking.
Property Size27,105 SF
Price / SF$180.78
Days on Market903
Property Features for 200 White Spruce Blvd
General Information
Standard status
Active
Size
27,105 SF
Property subtype
OFFICE
Occupancy
88%
Listing Agency:
CBRE | Rochester
(585) 240-8080
Listed By:
Patrick Wahl · License #10401253005
(585) 474-1437
Source:
Moodyscre
Added: Mar 26, 2024
Changed: Aug 15
Last Checked: Sep 13 at 8:40AM
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 CBRE | Rochester
Investment Insights
Based on property information with market context.
This 27,105-square-foot medical and office building is currently 88% occupied. The property has undergone recent renovations including the lobby, common areas, roof, exterior, and parking, supporting a strong day-to-day arrival and tenant experience.
The building is offered for sale and includes 2023 NOI of $420,031. With the most common shared systems and improvements addressed recently, it presents a maintained commercial option for buyers seeking an established multi-tenant medical and office asset.
The building is offered for sale and includes 2023 NOI of $420,031. With the most common shared systems and improvements addressed recently, it presents a maintained commercial option for buyers seeking an established multi-tenant medical and office asset.
Key Highlights
- 27,105 SF medical and office building
- 88% occupancy
- 2023 NOI of $420,031
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
$389,824
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
7.96%
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%
$7,796,480
$7.8M
Cap Rate 7%
$5,568,914
$5.6M
Cap Rate 9%
$4,331,378
$4.3M
Market Conditions
NOI Build-Up for 27,105 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
$650.5K $24.00/SF
− Vacancy
−$130.8K −$4.82/SF
EGI
$519.8K $19.18/SF
− OpEx
−$129.9K −$4.79/SF
NOI
$389.8K $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%
$7,796,480
Cap Rate 7%
$5,568,914
Cap Rate 9%
$4,331,378
Alternative Uses
Best Use
Office B
$5.57M
$4.87M – $6.50M
NOI $389,824 @ 7.0% cap · market cap 7.96%
Second Best
Healthcare Medical
$5.40M
$4.72M – $6.30M
NOI $377,822 @ 7.0% cap · market cap 7.71%
Theoretical Best
Office A
$7.43M
$6.50M – $8.66M
NOI $519,765 @ 7.0% cap · market cap 10.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
88%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,280
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14623, NY
27,865
Population
9,612
Households
2.9
Avg Household Size
28
Median Age
41%
College-Educated
92%
High-School Grad
19.5 sq mi
ZIP Area
1,429
Density / Sq Mi
$61,088
Median Household Income
$26,411
Median Earnings
$1,221
Median Rent
$167,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Rochester, NY
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Recently renovated medical and office building with 88% occupancy and updated lobby, common areas, roof, exterior, and parking.
Where is this medical office space located?
The property is located at 200 White Spruce Blvd Rochester, NY.
What is the asking price?
The asking price for this property is $4,900,000.
What are key features of this property?
This property features: 27,105 SF medical and office building; 88% occupancy; 2023 NOI of $420,031
