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    353 Island Cottage Road Rochester, NY 14612

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    For Lease
    $550,000 SF/Yr $199,925,000/Mo (calc)

    COMMERCIAL - Rochester, NY

    Type:Office
    Property size:
    4,362 SF
    Lot size:
    0.59 Acres
    Added:
    Jun 28, 2024
    Days on Market:
    675
    Last Refresh:
    May 3 at 2:06 pm

    Property Features for 353 Island Cottage Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    Commercial
    Rooms
    Basement
    Parking
    20
    Accessibility
    Accessible Elevator Installed
    Standard status
    Active
    APN
    262800-045-120-0002-042-320
    Size
    4,362 SF
    Lot size
    0.59 Acres

    Taxes and HOA fees

    Tax Annual Amount
    23885

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Zoned, Electric (Heating), Natural Gas
    Cooling system
    Zoned, Central Air
    Water source
    Public

    Building Details

    Year built
    2000
    Floors in Building
    1
    Flooring type
    Carpet
    Building materials
    Block, WoodSiding
    Roof type
    Asphalt

    We can help!

    Listing Contact
    Michael Quinn

    Listing agent Michael Quinn License #10301214748

    Listing office RE/MAX Plus 2171 Monroe Avenue, Rochester, NY

    Listing date Jun 28, 2024

    MLS# R1548695

    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.

    Overview

    Versatile Commercial Space, Rochester, NY

    This commercial building, constructed in 2000, offers 6,924 square feet across two floors, each measuring 3,462 square feet. The property is currently vacant and suitable for various uses, including professional medical or dental offices and childcare facilities. It features ample parking and convenient access from Route 390. The building is equipped with separate HVAC systems for different sections and includes a backup natural gas generator. The meticulously maintained space was originally built as a two-level medical office. The location is near Arcadia High School. The first floor and lower level are connected by a staircase, egress stairs from the basement to the exterior, and an elevator. The first floor is configured with a reception area, 11 exam rooms, a nurses' station, a doctor's office, a stock room, and bathrooms. The lower level can accommodate a kitchen with a break room, multiple offices, storage rooms, and a server room. The truss roof framing allows for flexible interior wall configurations, enabling changes, movement, or elimination for a more open space. The property sits on a 0.59-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Gretchen C. Smith-Burke, ... Pediatrician Tracy Lynn Maier Pediatrician Ella Rozin Pediatrician Gretchen Smith Smith-Burke Pediatrician Barbara Miller Wedig, ... Pediatrician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Caring For Cats — 343 Island Cottage Rd, Rochester, NY 14612

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.665744
    Latitude
    43.259838

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    FAQs

    What type of property is this?
    Medical Office Space - Adaptable commercial building suitable for medical, office, or childcare uses.
    Where is this medical office space located?
    The property is located at 353 Island Cottage Road Rochester, NY.
    What is the lease rate?
    The lease rate is $550,000.
    What are key features of this property?
    This property features: Versatile building suitable for medical, dental, childcare, or general office use.; Convenient location near Route 390 and Arcadia High School.; **Substantial space: 6,924 sq ft across two floors, accessible by stairs and elevator.**
    (585) 208-7562
    We can help!
    Listing Contact
    Michael Quinn
    Real Estate License ID: 10301214748
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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    353 Island Cottage Road, Rochester, NY 14612

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