Retail Bakery Commercial
New
For Sale
$199,900
248 East Avenue, Rochester, NY 14607
Built-out bakery space combines a customer-facing storefront with a professionally equipped production kitchen.
Property Size780 SF
Price / SF$256.28
Days on Market2
Property Features for 248 East Avenue
General Information
Standard status
Active
Size
780 SF
Additional Details
Business Included
Yes
Amenities
welcoming retail storefront
professionally equipped commercial kitchen
seating for 6 guests
Listing Agency:
Howard Hanna
(585) 271-2400
Listed By:
Tim N. Tompkins · License #10301219778
(585) 271-2400
Source:
Nicholcityrealty
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 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 Howard Hanna
Investment Insights
Based on property information with market context.
This commercial kitchen property includes a retail bakery storefront and a professionally equipped production area with new equipment. The layout supports both retail service and wholesale production, with seating for 6 guests permitted within the existing takeout space. Included assets comprise fixtures, equipment, branding materials, recipes, and operating systems. An adjoining space within the building is currently unoccupied, providing additional physical space connected to the bakery operation.
The property is located at 248 East Avenue in Rochester’s Center City District, next to The Little Theatre and along the East Avenue commercial corridor. The surrounding area includes residential neighborhoods, student housing, office buildings, cultural institutions, Redd, and the Rochester International Jazz Festival. The current space is configured for bakery retail and production, with potential operating applications that include catering, wholesale accounts, extended hours, and additional locations as described for the business.
The property is located at 248 East Avenue in Rochester’s Center City District, next to The Little Theatre and along the East Avenue commercial corridor. The surrounding area includes residential neighborhoods, student housing, office buildings, cultural institutions, Redd, and the Rochester International Jazz Festival. The current space is configured for bakery retail and production, with potential operating applications that include catering, wholesale accounts, extended hours, and additional locations as described for the business.
Key Highlights
- Retail storefront paired with a professionally equipped commercial kitchen
- New kitchen equipment included with the property and business assets
- Configuration supports both retail service and wholesale production
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
$11,334
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
5.67%
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%
$226,680
$226.7K
Cap Rate 7%
$161,914
$161.9K
Cap Rate 9%
$125,933
$125.9K
Market Conditions
NOI Build-Up for 780 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
$16.8K $21.60/SF
− Vacancy
−$1.7K −$2.22/SF
EGI
$15.1K $19.38/SF
− OpEx
−$3.8K −$4.84/SF
NOI
$11.3K $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%
$226,680
Cap Rate 7%
$161,914
Cap Rate 9%
$125,933
Alternative Uses
Best Use
Specialty Retail
$161.9K
$141.7K – $188.9K
NOI $11,334 @ 7.0% cap · market cap 5.67%
Second Best
Retail
$151.1K
$132.2K – $176.3K
NOI $10,579 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$213.7K
$187.0K – $249.3K
NOI $14,957 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
3,822
Businesses Nearby
99k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 41%
Dining 34%
Hotels & Casinos 21%
Home Improvements & Furnishings 3%
Delta Sonic Car Wash
Shops & Services
33,243 visits/mo
0.4 miles
Wendy's
Dining
16,800 visits/mo
0.4 miles
Dunkin' Donuts
Dining
16,744 visits/mo
0.5 miles
The Strathallan Rochester Hotel & Spa - a DoubleTree by Hilton
Hotels & Casinos
10,813 visits/mo
0.4 miles
Hampton Inn
Hotels & Casinos
10,290 visits/mo
0.3 miles
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 Retail in Rochester, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial kitchen - Built-out bakery space combines a customer-facing storefront with a professionally equipped production kitchen.
Where is this commercial kitchen located?
The property is located at 248 East Avenue Rochester, NY.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Retail storefront paired with a professionally equipped commercial kitchen; New kitchen equipment included with the property and business assets; Configuration supports both retail service and wholesale production
