Iconic Building on Monroe
For Sale
Contact for pricing
Pending
2383 Monroe Ave, Rochester, NY 14618
Stand-alone commercial property in Brighton's Monroe Avenue corridor.
Property Size3,086 SF
Days on Market176
Property Features for 2383 Monroe Ave
General Information
Standard status
Pending
Size
3,086 SF
Class
B
Property subtype
Office, Retail
Zoning
BE-F
Investment Type
Owner/User
Building Details
Year Built
1936
Buildings
1
Stories
2
Listing Agency:
Tru Agent Real Estate
(585) 362-6810
Listed By:
Dara E. Petralia · License #GR
Source:
Crexi
Added: Feb 25
Changed: Aug 8
Last Checked: Jul 24 at 1:05PM
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 Tru Agent Real Estate
Investment Insights
Based on property information with market context.
Located on Monroe Avenue in Brighton, this 3,086 square foot stand-alone commercial property, formerly the Waterlily Building, is suitable for an owner-occupant or investor. The building features architectural charm and a designed interior space, creating a boutique-style environment suitable for spa, wellness, beauty, medical aesthetics, retail, or professional office use. The interior includes a light-filled reception area, private treatment rooms, flexible workspace, a kitchenette, and restroom facilities. Elegant finishes and custom details are present throughout. The property is positioned along one of Rochester’s active commercial corridors, surrounded by retailers, restaurants, medical offices, and residential neighborhoods. It offers visibility, exposure, curb appeal, and a private on-site parking lot.
Key Highlights
- Prime location on Monroe Avenue in Brighton, a highly sought‑after commercial corridor.
- Stand‑alone, beautifully maintained 3,086 sq ft commercial building.
- Ideal for spa, wellness, beauty, medical aesthetics, retail, or professional office use.
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
$43,016
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
8.98%
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%
$860,320
$860.3K
Cap Rate 7%
$614,514
$614.5K
Cap Rate 9%
$477,956
$478.0K
Market Conditions
NOI Build-Up for 3,086 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 $26.40/SF
− Vacancy
−$9.8K −$3.17/SF
EGI
$71.7K $23.23/SF
− OpEx
−$28.7K −$9.29/SF
NOI
$43.0K $13.94/SF
Area
Rochester, NY
Vacancy
12.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
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%
$860,320
Cap Rate 7%
$614,514
Cap Rate 9%
$477,956
Alternative Uses
Best Use
Office B
$634.0K
$554.8K – $739.7K
NOI $44,383 @ 7.0% cap · market cap 9.27%
Second Best
Healthcare Medical
$614.5K
$537.7K – $716.9K
NOI $43,016 @ 7.0% cap · market cap 8.98%
Theoretical Best
Office A
$845.4K
$739.7K – $986.3K
NOI $59,177 @ 7.0% cap · market cap 12.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,255
Businesses Nearby
Balanced
Demand for This Use
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 Office in Rochester, NY
Questions? Ask Rey
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Similar Off Market Nearby
- Animal Urgent Care — 2816 Monroe Ave #100, Rochester, NY 14618
- Pittsford Animal Hospital (of Pittsford) — 2816 Monroe Ave, Rochester, NY 14618
- Whilen Todd DVM — 2816 Monroe Ave #2, Rochester, NY 14618
- Ashton Janine DVM — 2, 2816 Monroe Ave, Rochester, NY 14618, United States
Frequently Asked Questions
What type of property is this?
Medical Office Space - Stand-alone commercial property in Brighton's Monroe Avenue corridor.
Where is this medical office space located?
The property is located at 2383 Monroe Ave Rochester, NY.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Prime location on Monroe Avenue in Brighton, a highly sought‑after commercial corridor.; Stand‑alone, beautifully maintained 3,086 sq ft commercial building.; Ideal for spa, wellness, beauty, medical aesthetics, retail, or professional office use.
