Mixed-Use Property With
For Sale
$899,900
3224 E Henrietta Road, Henrietta, NY 14467
Two-family home with separate utilities, an oversized detached garage, and a large heated outbuilding on a substantial parcel.
Property Size2,703 SF
Lot Size5.80 Acres
Days on Market90
Property Features for 3224 E Henrietta Road
General Information
Standard status
Active
Size
2,703 SF
Total Parking Spaces
20
Lot size
5.80 Acres
Property subtype
Commercial
Zoning
1, Residential 2 Unit
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$10,047
Building Details
Building Size
2,703 SF
Year Built
1900
Buildings
3
Stories
2
Listing Agency:
Howard Hanna
(585) 698-2020
Listed By:
Lisa S. Bolzner
(585) 698-2020
Source:
Homeprocny
Added: Jun 4
Changed: Aug 31
Last Checked: Aug 3 at 4:30AM
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 mixed-use property combines a two-family residence with business-oriented outbuildings and separate utility metering. The upper unit is leased month to month, while the home could be reconfigured for single-family use. Improvements include newer windows, a newer roof, an oversized detached two-car garage, and a 40 x 75 outbuilding equipped with water, electric, and oil heat in part of the structure.
The 5.8-acre parcel backs to the local high school and is positioned near the center of Henrietta. Shopping, the airport, and medical facilities are minutes away. The home and outbuilding each have separate utility meters, supporting distinct operations within the property.
The 5.8-acre parcel backs to the local high school and is positioned near the center of Henrietta. Shopping, the airport, and medical facilities are minutes away. The home and outbuilding each have separate utility meters, supporting distinct operations within the property.
Key Highlights
- 5.8‑acre lot backing to the High School
- Two‑family home with separate utilities and an upper unit rented month to month
- Detached oversized 2 car garage
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
$25,847
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
2.87%
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%
$516,940
$516.9K
Cap Rate 7%
$369,243
$369.2K
Cap Rate 9%
$287,189
$287.2K
Market Conditions
NOI Build-Up for 2,703 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
$48.7K $18.00/SF
− Vacancy
−$7.3K −$2.70/SF
EGI
$41.4K $15.30/SF
− OpEx
−$15.5K −$5.74/SF
NOI
$25.8K $9.56/SF
Area
Monroe County, NY
Vacancy
15.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$516,940
Cap Rate 7%
$369,243
Cap Rate 9%
$287,189
Alternative Uses
Best Use
Mixed Use
$369.2K
$323.1K – $430.8K
NOI $25,847 @ 7.0% cap · market cap 2.87%
Second Best
Multifamily LT 5
$360.0K
$315.0K – $420.0K
NOI $25,197 @ 7.0% cap · market cap 2.80%
Theoretical Best
Specialty Retail
$518.9K
$454.0K – $605.4K
NOI $36,323 @ 7.0% cap · market cap 4.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
146
Businesses Nearby
Explore this area
Business Placement
Demographics for 14467, NY
9,526
Population
4,561
Households
2.1
Avg Household Size
44
Median Age
44%
College-Educated
94%
High-School Grad
10.3 sq mi
ZIP Area
925
Density / Sq Mi
$88,548
Median Household Income
$48,846
Median Earnings
$1,139
Median Rent
$212,000
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 - Two-family home with separate utilities, an oversized detached garage, and a large heated outbuilding on a substantial parcel.
Where is this mixed-use property located?
The property is located at 3224 E Henrietta Road Henrietta, NY.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 5.8‑acre lot backing to the High School; Two‑family home with separate utilities and an upper unit rented month to month; Detached oversized 2 car garage
