Freestanding Restaurant
New
For Sale
$250,000
532 Lake Avenue, Rochester, NY 14613
CommercialSale, Rochester, NY
Property Size2,109 SF
Lot Size0.29 Acres
Price / SF$118.54
Days on Market3
Property Features for 532 Lake Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
C-03
Zoning description
Commercial
Parking
10
Subdivision
Town Lt
Lot features
Rectangular, Rectangular Lot
Elementary school district
Rochester
Middle school district
Rochester
High school district
Rochester
Standard status
Active
APN
261400-105-350-0003-013-000-0000
Size
2,109 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Annual Amount
5022
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Building Details
Year built
1920
Floors in Building
1
Building materials
Block
Roof type
Flat
Listing Agency:
NORCHAR, LLC
(585) 244-4444
Listed By:
Joshua Valletta · License #10301217890
(585) 244-4444
Added: Aug 24
Last Checked: Aug 26 at 12:06PM
MLS# R1709524
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.
Investment Insights
Based on property information with market context.
This freestanding restaurant building contains 2,109 square feet with a customer dining area, service counter, takeout window, commercial kitchen, preparation and wash areas, walk-in cooler, and two bathrooms. Existing kitchen equipment is included. The building was constructed in 1920 and features block construction, a flat roof, natural gas forced-air heat, central air conditioning, and public sewer service.
Located at 532 Lake Avenue in Rochester, the property occupies 0.2922 acres along Lake Avenue. Large storefront windows provide street exposure, while the site includes a substantial on-site parking area. The water tank is 1 year old, the roof is 10 years old, and the furnace and central A/C are 8 years old. Zoning is C-03.
Located at 532 Lake Avenue in Rochester, the property occupies 0.2922 acres along Lake Avenue. Large storefront windows provide street exposure, while the site includes a substantial on-site parking area. The water tank is 1 year old, the roof is 10 years old, and the furnace and central A/C are 8 years old. Zoning is C-03.
Key Highlights
- 2,109‑square‑foot freestanding restaurant building on 0.2922 acres
- Commercial kitchen with included equipment, walk‑in cooler, prep and wash areas
- Customer dining area, service counter, takeout window, and 2 bathrooms
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
$21,510
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
8.60%
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%
$430,200
$430.2K
Cap Rate 7%
$307,286
$307.3K
Cap Rate 9%
$239,000
$239.0K
Market Conditions
NOI Build-Up for 2,109 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
$32.9K $15.60/SF
− Vacancy
−$2.2K −$1.03/SF
EGI
$30.7K $14.57/SF
− OpEx
−$9.2K −$4.37/SF
NOI
$21.5K $10.20/SF
Area
Rochester, NY
Vacancy
6.60%
Lease Rate
$15.60 /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%
$430,200
Cap Rate 7%
$307,286
Cap Rate 9%
$239,000
Alternative Uses
Best Use
Specialty Retail
$437.8K
$383.1K – $510.8K
NOI $30,647 @ 7.0% cap · market cap 12.26%
Second Best
Retail
$408.6K
$357.6K – $476.7K
NOI $28,604 @ 7.0% cap · market cap 11.44%
Theoretical Best
Office A
$577.7K
$505.5K – $674.0K
NOI $40,442 @ 7.0% cap · market cap 16.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
591
Businesses Nearby
108k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Shops & Services 23%
Groceries 12%
Apparel 2%
McDonald's
Dining
24,134 visits/mo
0.3 miles
Wendy's
Dining
13,076 visits/mo
0.2 miles
Aldi
Groceries
12,600 visits/mo
0.3 miles
Taco Bell
Dining
12,366 visits/mo
0.3 miles
ESL Federal Credit Union
Shops & Services
10,283 visits/mo
0.4 miles
Demographics for 14613, NY
14,882
Population
6,561
Households
2.3
Avg Household Size
31
Median Age
14%
College-Educated
77%
High-School Grad
1.9 sq mi
ZIP Area
7,833
Density / Sq Mi
$33,370
Median Household Income
$29,530
Median Earnings
$939
Median Rent
$108,200
Median Home Value
Market
Vacancy Rate% for Retail in Rochester, NY
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Vacant food-service property with a commercial kitchen, takeout window, and customer parking.
Where is this conventional restaurant located?
The property is located at 532 Lake Avenue Rochester, NY.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 2,109‑square‑foot freestanding restaurant building on 0.2922 acres; Commercial kitchen with included equipment, walk‑in cooler, prep and wash areas; Customer dining area, service counter, takeout window, and 2 bathrooms
