Fenced Mini-Storage Warehouse
For Sale
Contact for pricing
457 Middle Rd, Henrietta, NY 14467
Four-building mini-storage complex with 108 units, plus high-bay warehouse space with two large overhead doors.
Property Size18,300 SF
Price / SF$109.29
Days on Market204
Property Features for 457 Middle Rd
General Information
Standard status
Active
Size
18,300 SF
Property subtype
INDUSTRIAL
Zoning
Industrial
Site & Location
Highway Access
Yes
Fenced Yard
Yes
Listing Agency:
Jim Pappas Commercial Real Estate
(585) 424-6007
Listed By:
James (Jim) P. Pappas
Source:
Moodyscre
Added: Feb 23
Changed: Sep 7
Last Checked: Sep 14 at 11:38AM
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 Jim Pappas Commercial Real Estate
Investment Insights
Based on property information with market context.
This fenced four-building mini-storage complex includes 108 units across various sizes. The property also features three high-bay warehouse spaces, each approximately 1,200 SF (30' x 40'), with two large overhead (OH) doors serving the warehouse areas.
The facility is located on Middle Rd in Henrietta, adjacent to the Route 390 expressway. The property is zoned Industrial.
Designed for unit storage and warehouse use, the site’s fenced layout supports controlled access for the storage operation.
The facility is located on Middle Rd in Henrietta, adjacent to the Route 390 expressway. The property is zoned Industrial.
Designed for unit storage and warehouse use, the site’s fenced layout supports controlled access for the storage operation.
Key Highlights
- Four‑building mini‑storage complex with 108 units of various sizes
- Includes (3) 1,200 SF (30' x 40') high‑bay warehouse spaces
- High‑bay spaces feature two large OH doors
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
$160,637
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
8.03%
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%
$3,212,740
$3.2M
Cap Rate 7%
$2,294,814
$2.3M
Cap Rate 9%
$1,784,856
$1.8M
Market Conditions
NOI Build-Up for 18,300 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
$241.6K $13.20/SF
− Vacancy
−$12.1K −$0.66/SF
EGI
$229.5K $12.54/SF
− OpEx
−$68.8K −$3.76/SF
NOI
$160.6K $8.78/SF
Area
Monroe County, NY
Vacancy
5.00%
Lease Rate
$13.20 /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%
$3,212,740
Cap Rate 7%
$2,294,814
Cap Rate 9%
$1,784,856
Alternative Uses
Best Use
Self Storage
$2.29M
$2.01M – $2.68M
NOI $160,637 @ 7.0% cap · market cap 8.03%
Second Best
Warehouse
$1.46M
$1.28M – $1.71M
NOI $102,393 @ 7.0% cap · market cap 5.12%
Theoretical Best
Specialty Retail
$3.51M
$3.07M – $4.10M
NOI $245,914 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
218
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Northeast region
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Frequently Asked Questions
What type of property is this?
Self storage facility - Four-building mini-storage complex with 108 units, plus high-bay warehouse space with two large overhead doors.
Where is this self storage facility located?
The property is located at 457 Middle Rd Henrietta, NY.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Four‑building mini‑storage complex with 108 units of various sizes; Includes (3) 1,200 SF (30' x 40') high‑bay warehouse spaces; High‑bay spaces feature two large OH doors
