Four-Unit Mixed-Use
For Sale
$699,900
Pending
2341 Monroe Avenue, Rochester, NY 14618
CommercialSale, Rochester, NY
Property Size3,032 SF
Lot Size0.20 Acres
Days on Market70
Property Features for 2341 Monroe Avenue
General Information
Property type
Commercial Sale
Property subtype
Apartment
Zoning
BE-F
Rooms
Basement
Parking
7
Parking features
Paved or Surfaced
Subdivision
Rowlands
Lot features
Rectangular, Rectangular Lot
Elementary school district
Brighton
Middle school district
Brighton
High school district
Brighton
Standard status
Pending
APN
262000-137-140-0003-022-000
Size
3,032 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
17868
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard, Forced Air
Cooling system
Central Air
Building Details
Year built
1952
Floors in Building
2
Number of units
4
Flooring type
Linoleum, Vinyl, Carpet
Building materials
Brick
Roof type
Shingle
Listing Agency:
Keller Williams Realty Gateway
(585) 256-4400
Listed By:
Oktay Kocaoglu · License #10301223023
(585) 507-6541
Added: Jun 14
Changed: Aug 19
Last Checked: Aug 22 at 2:06PM
MLS# R1686809
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 four-unit mixed-use building combines a front commercial cafe with three residential apartments: one three-bedroom unit on the rear lower level and two one-bedroom apartments upstairs. The residential units have long-term tenants, while the cafe provides an established commercial component. The property contains 3,032 square feet on 0.2 acres and was built in 1952 with brick construction.
Located on Monroe Avenue in Rochester, the property has direct street exposure and sits near shops, restaurants, universities, medical facilities, and major roadways. Zoning is BE-F. Improvements include central air, natural-gas heating with baseboard and forced-air systems, paved parking, public sewer, a shingle roof, and a basement.
Located on Monroe Avenue in Rochester, the property has direct street exposure and sits near shops, restaurants, universities, medical facilities, and major roadways. Zoning is BE-F. Improvements include central air, natural-gas heating with baseboard and forced-air systems, paved parking, public sewer, a shingle roof, and a basement.
Key Highlights
- Four‑unit mixed‑use building with a cafe and three apartments
- 3,032 square feet on 0.2 acres
- Residential mix includes one three‑bedroom unit and two one‑bedroom apartments
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
$44,059
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
6.30%
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%
$881,180
$881.2K
Cap Rate 7%
$629,414
$629.4K
Cap Rate 9%
$489,544
$489.5K
Market Conditions
NOI Build-Up for 3,032 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
$65.5K $21.60/SF
− Vacancy
−$6.7K −$2.22/SF
EGI
$58.7K $19.38/SF
− OpEx
−$14.7K −$4.84/SF
NOI
$44.1K $14.53/SF
Area
Rochester, NY
Vacancy
10.30%
Lease Rate
$21.60 /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%
$881,180
Cap Rate 7%
$629,414
Cap Rate 9%
$489,544
Alternative Uses
Best Use
Specialty Retail
$629.4K
$550.7K – $734.3K
NOI $44,059 @ 7.0% cap · market cap 6.30%
Second Best
Mixed Use
$526.3K
$460.5K – $614.0K
NOI $36,839 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$830.6K
$726.8K – $969.0K
NOI $58,142 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,255
Businesses Nearby
Explore this area
Business Placement
Demographics for 14618, NY
23,998
Population
9,003
Households
2.7
Avg Household Size
39
Median Age
76%
College-Educated
98%
High-School Grad
9.6 sq mi
ZIP Area
2,500
Density / Sq Mi
$122,647
Median Household Income
$53,570
Median Earnings
$1,407
Median Rent
$301,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-facing cafe space is paired with three residential apartments in a compact income-producing property.
Where is this mixed-use property located?
The property is located at 2341 Monroe Avenue Rochester, 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: Four‑unit mixed‑use building with a cafe and three apartments; 3,032 square feet on 0.2 acres; Residential mix includes one three‑bedroom unit and two one‑bedroom apartments
