Salon Property with Flexible
New
For Sale
$600,000
3151 Chili Avenue, Rochester, NY 14624
CommercialSale, Rochester, NY
Property Size1,998 SF
Lot Size0.17 Acres
Price / SF$300.30
Days on Market2
Property Features for 3151 Chili Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Zoning description
Commercial
Parking
20
Lot features
Pie Shaped Lot
Elementary school district
Gates Chili
Middle school district
Gates Chili
High school district
Gates Chili
Directions
Heading South on Coldwater rd from 490, entrance is on the south west sside of the intersection of Coldwater RD, and, Chili Ave.
Subdivision
Chili-262200
Standard status
Active
APN
262200-146-100-0001-011-100
Size
1,998 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
2683
Utilities
Heating system
Natural Gas
Water source
Public
Amenities
newly paved parking lot
Building Details
Year built
1815
Floors in Building
2
Roof type
Shingle, Asphalt
Listing Agency:
Keller Williams Realty Greater Rochester
(585) 362-8900
Listed By:
Chelse Moffatt · License #10401291182
(585) 478-3890
Added: Sep 23
Last Checked: Sep 24 at 12:06AM
MLS# R1716777
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 salon property provides a practical configuration for an owner-operator or successor business. The main level includes styling stations, a separate color-service area, retail display space, reception with cash-wrap capability, and additional customer-facing area. Upper-level rooms can accommodate storage, a break room, office functions, or other business needs. A basement accessed through Bilco doors adds further storage and utility space.
The property occupies 0.17 acres at 3151 Chili Avenue in Rochester, NY, near the intersection of Chili Avenue and Paul Road. Its commercial-corridor setting provides exposure to passing traffic, while the newly paved parking lot offers approximately 20 spaces for clients and guests. The building measures 1,998 square feet, was built in 1815, and has a newer shingle and asphalt roof. Natural gas heating and public water serve the property.
The property occupies 0.17 acres at 3151 Chili Avenue in Rochester, NY, near the intersection of Chili Avenue and Paul Road. Its commercial-corridor setting provides exposure to passing traffic, while the newly paved parking lot offers approximately 20 spaces for clients and guests. The building measures 1,998 square feet, was built in 1815, and has a newer shingle and asphalt roof. Natural gas heating and public water serve the property.
Key Highlights
- 1,998‑square‑foot salon property at 3151 Chili Avenue, Rochester, NY 14624
- Main‑level layout supports up to six styling stations and a dedicated color area
- Retail display area, reception desk, and cash wrap included
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
$27,098
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
4.52%
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%
$541,960
$542.0K
Cap Rate 7%
$387,114
$387.1K
Cap Rate 9%
$301,089
$301.1K
Market Conditions
NOI Build-Up for 1,998 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
$43.2K $21.60/SF
− Vacancy
−$4.4K −$2.22/SF
EGI
$38.7K $19.38/SF
− OpEx
−$11.6K −$5.81/SF
NOI
$27.1K $13.56/SF
Area
Rochester, NY
Vacancy
10.30%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$541,960
Cap Rate 7%
$387,114
Cap Rate 9%
$301,089
Alternative Uses
Best Use
Retail
$387.1K
$338.7K – $451.6K
NOI $27,098 @ 7.0% cap · market cap 4.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$547.3K
$478.9K – $638.6K
NOI $38,314 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
367
Businesses Nearby
324k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 36%
Groceries 27%
Superstores 25%
Dining 10%
Wegmans
Groceries
66,108 visits/mo
0.3 miles
Target
Superstores
57,669 visits/mo
0.2 miles
Big Lots
Superstores
24,365 visits/mo
0.1 miles
Aldi
Groceries
20,315 visits/mo
0.1 miles
Speedway
Shops & Services
18,502 visits/mo
0.1 miles
Demographics for 14624, NY
37,200
Population
15,865
Households
2.3
Avg Household Size
43
Median Age
33%
College-Educated
94%
High-School Grad
27.4 sq mi
ZIP Area
1,358
Density / Sq Mi
$86,046
Median Household Income
$45,723
Median Earnings
$1,249
Median Rent
$172,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Rochester, NY
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Frequently Asked Questions
What type of property is this?
Spa & wellness property - Operating salon with dedicated service areas, client parking, and additional room for storage or office use.
Where is this spa & wellness property located?
The property is located at 3151 Chili Avenue Rochester, NY.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: 1,998‑square‑foot salon property at 3151 Chili Avenue, Rochester, NY 14624; Main‑level layout supports up to six styling stations and a dedicated color area; Retail display area, reception desk, and cash wrap included
