Office Building with Anchor
New
For Sale
$40,339,597
400 West Ave, Rochester, NY 14611
Office property built in 1940 with existing tenants including RG&E, AT&T, and Action for a Better Community.
Property Size153,472 SF
Days on Market4
Property Features for 400 West Ave
General Information
Standard status
Active
Size
153,472 SF
Class
C
Property subtype
Office
Building Details
Building Size
153,472 SF
Year Built
1940
Tenancy
Multi
Listing Agency:
(310) 650-4322
Listed By:
Jacob Rivera · License #NY #10301220266
Source:
Caliberbrokerage
Added: Aug 8
Changed: Aug 11
Last Checked: Aug 11 at 6:25AM
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 Jacob Rivera
Investment Insights
Based on property information with market context.
This office building was constructed in 1940 and has an established tenant roster that includes RG&E, AT&T, and Action for a Better Community. The property is located at 400 West Ave in Rochester, New York.
Key Highlights
- Existing tenants include RG&E, AT&T, and Action for a Better Community
- Office building constructed in 1940
- Located at 400 West Ave in Rochester, NY 14611
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
$2,207,234
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
5.47%
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%
$44,144,680
$44.1M
Cap Rate 7%
$31,531,914
$31.5M
Cap Rate 9%
$24,524,822
$24.5M
Market Conditions
NOI Build-Up for 153,472 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
$3.68M $24.00/SF
− Vacancy
−$740.3K −$4.82/SF
EGI
$2.94M $19.18/SF
− OpEx
−$735.7K −$4.79/SF
NOI
$2.21M $14.38/SF
Area
Rochester, NY
Vacancy
20.10%
Lease Rate
$24.00 /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%
$44,144,680
Cap Rate 7%
$31,531,914
Cap Rate 9%
$24,524,822
Alternative Uses
Best Use
Office B
$31.53M
$27.59M – $36.79M
NOI $2,207,234 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$42.04M
$36.79M – $49.05M
NOI $2,942,979 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
607
Businesses Nearby
Explore this area
Business Placement
Demographics for 14611, NY
18,586
Population
8,292
Households
2.2
Avg Household Size
32
Median Age
12%
College-Educated
80%
High-School Grad
2.9 sq mi
ZIP Area
6,409
Density / Sq Mi
$29,870
Median Household Income
$27,109
Median Earnings
$1,024
Median Rent
$77,900
Median Home Value
Market
Vacancy Rate% for Office in Rochester, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Office property built in 1940 with existing tenants including RG&E, AT&T, and Action for a Better Community.
Where is this office building located?
The property is located at 400 West Ave Rochester, NY.
What is the asking price?
The asking price for this property is $40,339,597.
What are key features of this property?
This property features: Existing tenants include RG&E, AT&T, and Action for a Better Community; Office building constructed in 1940; Located at 400 West Ave in Rochester, NY 14611
