Leased Office
For Sale
$1,300,000
71 Monroe Avenue, Pittsford, NY 14534
CommercialSale, Pittsford, NY
Property Size8,002 SF
Lot Size0.45 Acres
Price / SF$162.46
Days on Market191
Property Features for 71 Monroe Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
MU-OF
Zoning description
Commercial
Rooms
Basement
Parking
36
Parking features
Paved or Surfaced
Security features
Security
Accessibility
Accessible Approach with Ramp
Subdivision
Pittsford Village Green C
Lot features
Rectangular, Rectangular Lot
Elementary school district
Pittsford
Middle school district
Pittsford
High school district
Pittsford
Standard status
Active
APN
264601-151-180-0004-007-000-000A
Size
8,002 SF
Lot size
0.45 Acres
Taxes and HOA fees
Tax Annual Amount
51856
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Zoned, Natural Gas
Cooling system
Central Air, Zoned
Water source
Public
Amenities
conference rooms
kitchenette
bathrooms
Building Details
Year built
1992
Floors in Building
1
Number of units
1
Flooring type
Carpet
Building materials
Frame
Roof type
Shingle, Asphalt
Architectural style
Other
Listing Agency:
RE/MAX Plus · RE/MAX International
(585) 279-8200
Listed By:
Michael R DiMino · License #10401258742
(585) 355-0460
Added: Feb 12
Changed: Aug 22
Last Checked: Aug 22 at 1:06PM
MLS# R1662324
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 8,002-square-foot office building in Pittsford Village Green was constructed in 1992 and is currently occupied by one tenant. The office condominium is supported by an association, with association fees paid by the tenant. A finished basement adds conference rooms, a kitchenette, and bathrooms beyond the stated building area.
The property sits on 0.45 acres and includes paved parking, public water, and public sewer. Mechanical systems include zoned forced-air natural gas heat and zoned central air conditioning. The roof and HVAC systems are each less than five years old. MU-OF zoning applies, and the building layout may allow future separation into multiple office units. The current lease runs through 11/30/2026.
The property sits on 0.45 acres and includes paved parking, public water, and public sewer. Mechanical systems include zoned forced-air natural gas heat and zoned central air conditioning. The roof and HVAC systems are each less than five years old. MU-OF zoning applies, and the building layout may allow future separation into multiple office units. The current lease runs through 11/30/2026.
Key Highlights
- 8,002‑square‑foot office building on 0.45 acres
- Currently fully leased to a single tenant through 11/30/2026
- MU‑OF zoning in Pittsford Village Green
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
4.63%
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 4.63%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.54M
$1.34M – $1.79M
NOI $107,530 @ 7.0% cap · market cap 8.27%
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
902
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 continues under an existing lease.
Where is this office building located?
The property is located at 71 Monroe Avenue Pittsford, NY.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 8,002‑square‑foot office building on 0.45 acres; Currently fully leased to a single tenant through 11/30/2026; MU‑OF zoning in Pittsford Village Green
