Remodeled Office
For Sale
$699,900
2138 Empire Boulevard, Webster, NY 14580
CommercialSale, Webster, NY
Property Size7,950 SF
Lot Size0.57 Acres
Price / SF$88.04
Days on Market47
Property Features for 2138 Empire Boulevard
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
Conv. Res.
Zoning description
Residential Multi Use
Parking
22
Lot features
Pie Shaped Lot
Elementary school district
Webster
Middle school district
Webster
High school district
Webster
Directions
Bay Road to Empire
Subdivision
Webster-265489
Standard status
Active
APN
265489-093-080-0001-008-000
Size
7,950 SF
Lot size
0.57 Acres
Taxes and HOA fees
Tax Annual Amount
17158
Utilities
Sewer type
Public Sewer
Heating system
Zoned, Natural Gas, Forced Air
Cooling system
Central Air, Zoned
Amenities
attached garage
mini split HVAC
newer furnaces
new glass garage door
new awnings
stone front accents
Building Details
Year built
1948
Floors in Building
3
Flooring type
Vinyl, Linoleum
Building materials
BlownInInsulation, Block, WoodSiding
Roof type
Shingle
Listing Agency:
RE/MAX Plus · RE/MAX International
(585) 279-8200
Listed By:
Nunzio Salafia · License #10491200430
(585) 261-6070
Added: Jul 20
Changed: Sep 4
Last Checked: Sep 4 at 5:06PM
MLS# R1700054
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.
This 7,950-square-foot office building in Webster offers a flexible layout for a single occupant or division into two or three separate operations. Approximately 4,000 square feet has been newly completed within the past five years, with updated flooring, interior paint, four mini-split systems, a newer furnace, and an attached garage suitable for storage or operational use. The property also features zoned central air, forced-air natural gas heat, a shingle roof, public sewer, and a combination of block and wood siding construction.
Located at 2138 Empire Boulevard, the property includes a driveway extension completed in 2023 with more than 22 parking spaces. Exterior improvements include new paint in 2023, stone front accents, new awnings, and a new glass garage door. The building sits 7 doors from Dunkin' Donuts, 11 doors from Walmart, and 12 doors from Wegmans.
Located at 2138 Empire Boulevard, the property includes a driveway extension completed in 2023 with more than 22 parking spaces. Exterior improvements include new paint in 2023, stone front accents, new awnings, and a new glass garage door. The building sits 7 doors from Dunkin' Donuts, 11 doors from Walmart, and 12 doors from Wegmans.
Key Highlights
- 7,950‑square‑foot office building on 0.57 acres
- Flexible configuration for one occupant or two to three separate operations
- Approximately 4,000 square feet completed within the past 5 years
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
$59,847
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
8.55%
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%
$1,196,940
$1.2M
Cap Rate 7%
$854,957
$855.0K
Cap Rate 9%
$664,967
$665.0K
Market Conditions
NOI Build-Up for 7,950 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
$111.6K $14.04/SF
− Vacancy
−$31.8K −$4.00/SF
EGI
$79.8K $10.04/SF
− OpEx
−$19.9K −$2.51/SF
NOI
$59.8K $7.53/SF
Area
Monroe County, NY
Vacancy
28.51%
Lease Rate
$14.04 /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%
$1,196,940
Cap Rate 7%
$854,957
Cap Rate 9%
$664,967
Alternative Uses
Best Use
Retail
$1.10M
$965.2K – $1.29M
NOI $77,214 @ 7.0% cap · market cap 11.03%
Second Best
Office B
$855.0K
$748.1K – $997.5K
NOI $59,847 @ 7.0% cap · market cap 8.55%
Theoretical Best
Specialty Retail
$1.53M
$1.34M – $1.78M
NOI $106,831 @ 7.0% cap · market cap 15.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
658
Businesses Nearby
Explore this area
Business Placement
Demographics for 14580, NY
54,148
Population
24,355
Households
2.2
Avg Household Size
46
Median Age
45%
College-Educated
96%
High-School Grad
42.6 sq mi
ZIP Area
1,271
Density / Sq Mi
$95,499
Median Household Income
$58,150
Median Earnings
$1,387
Median Rent
$253,000
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Flexible commercial building that can accommodate one occupant or be configured for multiple operations.
Where is this office building located?
The property is located at 2138 Empire Boulevard Webster, NY.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: 7,950‑square‑foot office building on 0.57 acres; Flexible configuration for one occupant or two to three separate operations; Approximately 4,000 square feet completed within the past 5 years
