Office-Configured Flex
For Sale
Contact for pricing
7931 Rae Blvd, Victor, NY 14564
Flex space configured for office use, with construction dating to 1990.
Property Size28,000 SF
Price / SF$107.14
Days on Market137
Property Features for 7931 Rae Blvd
General Information
Standard status
Active
Size
28,000 SF
Total Parking Spaces
85
Property subtype
Office, Industrial
Additional Details
Office Build-Out
28,000 SF
Building Details
Year Built
1990
Buildings
2
Stories
1
Units
2
Listing Agency:
Caliber Commercial Brokerage
(585) 424-3333
Listed By:
Matt Lester · License #NY 10491200767
Source:
Crexi
Added: Apr 17
Changed: Aug 30
Last Checked: Aug 30 at 2:41PM
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 Caliber Commercial Brokerage
Investment Insights
Based on property information with market context.
This 28,000-square-foot flex space is configured for office use and was built in 1990. The property is located at 7931 Rae Blvd in Victor, New York, with a 14564 ZIP code.
Key Highlights
- 28,000 SF flex space
- Office‑oriented configuration
- Built in 1990
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
$208,928
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
6.96%
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%
$4,178,560
$4.2M
Cap Rate 7%
$2,984,686
$3.0M
Cap Rate 9%
$2,321,422
$2.3M
Market Conditions
NOI Build-Up for 28,000 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
$265.4K $9.48/SF
− Vacancy
−$19.6K −$0.70/SF
EGI
$245.8K $8.78/SF
− OpEx
−$36.9K −$1.32/SF
NOI
$208.9K $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%
$4,178,560
Cap Rate 7%
$2,984,686
Cap Rate 9%
$2,321,422
Alternative Uses
Best Use
Office B
$6.40M
$5.60M – $7.47M
NOI $448,157 @ 7.0% cap · market cap 14.94%
Second Best
Warehouse
$2.98M
$2.61M – $3.48M
NOI $208,928 @ 7.0% cap · market cap 6.96%
Theoretical Best
Office A
$8.38M
$7.33M – $9.78M
NOI $586,656 @ 7.0% cap · market cap 19.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
82
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 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?
Flex space - Flex space configured for office use, with construction dating to 1990.
Where is this flex space located?
The property is located at 7931 Rae Blvd Victor, NY.
What is the asking price?
The asking price for this property is $2,999,900.
What are key features of this property?
This property features: 28,000 SF flex space; Office‑oriented configuration; Built in 1990
