Office Building with Finished
For Sale
$1,450,000
3595 MONROE AVE, Pittsford, NY 14534
Single-tenant occupancy runs through 11/30/2026, with MU-OF zoning and association-managed common areas.
Property Size8,002 SF
Price / SF$181.20
Days on Market269
Property Features for 3595 MONROE AVE
General Information
Standard status
Active
Size
8,002 SF
Property subtype
General Commercial
Occupancy
100%
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$51,856
Amenities
conference rooms
kitchenette
bathrooms
Central Air, Gas, A/C - Zone
3
Carpet
Asphalt, Shingle
MU-OF
36 Parking Spaces. Shared Driveway.
Rectangular
130X63
Rectangular.
Building Details
Year Built
1992
Buildings
1
Tenancy
Single
Owner Occupied
No
Listing Agency:
RE/MAX Plus
(585) 355-0460
Listed By:
Michael DiMino · License #10401258742
(585) 355-0460
Source:
Xome
Added: Dec 5, 2025
Changed: Aug 30
Last Checked: Aug 30 at 3:17PM
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 RE/MAX Plus
Investment Insights
Based on property information with market context.
This 8,002-square-foot office building in Pittsford Village Green was constructed in 1992 and is currently occupied by one tenant. The finished basement adds conference rooms, a kitchenette, and bathrooms that are not included in the stated square footage. The building’s layout may also support division into separate office units in the future.
Recent capital improvements include a roof and HVAC systems that are each less than 5 years old. Central air, gas service, zone-controlled A/C, and carpeted interiors are in place. The office condo association manages the development, with association fees paid by the tenant. The property includes 36 parking spaces and a shared driveway. The existing lease runs through 11/30/2026.
Recent capital improvements include a roof and HVAC systems that are each less than 5 years old. Central air, gas service, zone-controlled A/C, and carpeted interiors are in place. The office condo association manages the development, with association fees paid by the tenant. The property includes 36 parking spaces and a shared driveway. The existing lease runs through 11/30/2026.
Key Highlights
- 8,002‑square‑foot office building constructed in 1992
- Finished basement with conference rooms, kitchenette, and bathrooms excluded from stated square footage
- Currently fully leased to a single tenant through 11/30/2026
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
$60,238
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
4.15%
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%
$1,204,760
$1.2M
Cap Rate 7%
$860,543
$860.5K
Cap Rate 9%
$669,311
$669.3K
Market Conditions
NOI Build-Up for 8,002 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
$112.3K $14.04/SF
− Vacancy
−$32.0K −$4.00/SF
EGI
$80.3K $10.04/SF
− OpEx
−$20.1K −$2.51/SF
NOI
$60.2K $7.53/SF
Area
Monroe County, NY
Vacancy
28.51%
Lease Rate
$14.04 /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%
$1,204,760
Cap Rate 7%
$860,543
Cap Rate 9%
$669,311
Alternative Uses
Best Use
Office B
$860.5K
$753.0K – $1.00M
NOI $60,238 @ 7.0% cap · market cap 4.15%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.54M
$1.34M – $1.79M
NOI $107,530 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
100%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
639
Businesses Nearby
Explore this area
Business Placement
Demographics for 14534, NY
32,834
Population
12,913
Households
2.5
Avg Household Size
46
Median Age
72%
College-Educated
98%
High-School Grad
32.3 sq mi
ZIP Area
1,017
Density / Sq Mi
$144,832
Median Household Income
$75,938
Median Earnings
$1,676
Median Rent
$343,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Single-tenant occupancy runs through 11/30/2026, with MU-OF zoning and association-managed common areas.
Where is this office building located?
The property is located at 3595 MONROE AVE Pittsford, NY.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 8,002‑square‑foot office building constructed in 1992; Finished basement with conference rooms, kitchenette, and bathrooms excluded from stated square footage; Currently fully leased to a single tenant through 11/30/2026
