Office/Flex Building with Dual
For Sale
Contact for pricing
615 Fishers Run, Victor, NY 14564
Office/flex property is 100% leased to two tenants under short-term lease structures.
Property Size18,025 SF
Price / SF$110.40
Days on Market116
Property Features for 615 Fishers Run
General Information
Standard status
Active
Size
18,025 SF
Property subtype
Industrial, Office
Zoning
Light Industrial
Occupancy
100%
Building Details
Year Built
1995
Year Renovated
2025
Stories
1
Tenancy
Multi
Listing Agency:
Endeavor Real Estate Group
Listed By:
James Buckley · License #10491213271
Source:
Crexi
Added: May 13
Changed: Sep 4
Last Checked: Sep 3 at 7:47AM
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 Endeavor Real Estate Group
Investment Insights
Based on property information with market context.
615 Fishers Run is being offered for sale as a 100% fee interest in an office/flex asset within an established business district. The property is currently 100% leased to two tenants, with both operating under short-term lease structures.
The asset presents an all-tenant-occupied profile and is positioned for continuity of income tied to the existing lease terms. For additional details regarding the leases and property information, contact Endeavor Real Estate Group.
This offering is presented as an office/flex investment with a dual-tenant configuration and near-term lease-end timing under the current structure.
The asset presents an all-tenant-occupied profile and is positioned for continuity of income tied to the existing lease terms. For additional details regarding the leases and property information, contact Endeavor Real Estate Group.
This offering is presented as an office/flex investment with a dual-tenant configuration and near-term lease-end timing under the current structure.
Key Highlights
- Office/flex property built in 1995
- 100% leased to two tenants
- Both tenants operate under short‑term lease structures
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
$134,497
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
6.76%
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%
$2,689,940
$2.7M
Cap Rate 7%
$1,921,386
$1.9M
Cap Rate 9%
$1,494,411
$1.5M
Market Conditions
NOI Build-Up for 18,025 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
$170.9K $9.48/SF
− Vacancy
−$12.6K −$0.70/SF
EGI
$158.2K $8.78/SF
− OpEx
−$23.7K −$1.32/SF
NOI
$134.5K $7.46/SF
Area
Ontario County, NY
Vacancy
7.40%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
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%
$2,689,940
Cap Rate 7%
$1,921,386
Cap Rate 9%
$1,494,411
Alternative Uses
Best Use
Warehouse
$1.92M
$1.68M – $2.24M
NOI $134,497 @ 7.0% cap · market cap 6.76%
Second Best
Industrial
$1.58M
$1.38M – $1.85M
NOI $110,762 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$5.40M
$4.72M – $6.29M
NOI $377,660 @ 7.0% cap · market cap 18.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
258
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 14564, NY
16,138
Population
7,021
Households
2.3
Avg Household Size
46
Median Age
57%
College-Educated
97%
High-School Grad
42.3 sq mi
ZIP Area
382
Density / Sq Mi
$111,293
Median Household Income
$63,358
Median Earnings
$1,431
Median Rent
$337,800
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Office/flex property is 100% leased to two tenants under short-term lease structures.
Where is this flex space located?
The property is located at 615 Fishers Run Victor, NY.
What is the asking price?
The asking price for this property is $1,990,000.
What are key features of this property?
This property features: Office/flex property built in 1995; 100% leased to two tenants; Both tenants operate under short‑term lease structures
