East Avenue Retail Investment
384 East Ave Rochester, NY 14607
384 East Ave, Rochester, NY, 14607
Contact for pricing
For Sale
Contact for pricing
Pending
Prime retail property in Rochester's East End entertainment district.
Property Size10,099 SF
Days on Market967
Property Features for 384 East Ave
General Information
- Standard status
- Pending
- Size
- 10,099 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1957
Listing agency
Cushman & Wakefield Pyramid Brokerage Company - Fairport, New York
(585) 248-9426
Listed by
John Kaman · License #NY 10301212528
Source
Crexi
Added: Nov 27, 2023 Updated: Jul 6 at 8:11AM Checked: Jul 19 at 8:01AM
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 Cushman & Wakefield Pyramid Brokerage Company - Fairport, New York
Investment Insights
Based on property information with market context.
Located in Rochester's East End entertainment district, this retail property at 384 East Avenue features a 10,099 sq. ft. building. The property includes two private outdoor patios and fireplaces. Currently, the building houses JoLi, a private event and catering company with a take-out kitchen. The interior features a ballroom, a central bar area, and an additional bar suitable for private events. The venue can accommodate both small gatherings of approximately 25 people and larger events exceeding 125 guests. The property is situated next to the new Courtyard by Marriott, which has 126 rooms. Its location provides visibility and foot traffic, enhanced by its proximity to the Central Business District and over 4.5 million sq. ft. of office space. The property is offered with a triple net (NNN) lease.
Key Highlights
- Prime location in Rochester's East End entertainment district, next to a Courtyard by Marriott, offering high visibility.
- Spacious 10,099 sq. ft. building with a ballroom, central bar, and private event bar, accommodating 25‑125+ guests.
- Currently home to JoLi, a thriving private event and catering company with an on‑site take‑out kitchen, offering immediate income.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $218.1k | $21.60 |
| − Vacancy | −$22.5k | −$2.22 |
| EGI | $195.7k | $19.38 |
| − OpEx | −$58.7k | −$5.81 |
| NOI | $137.0k | $13.56 |
10,099 SF · lease $21.60/SF/yr · vacancy 10.30% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$2.10M
$1.83M – $2.45M
NOI $146,753 @ 7.0% cap · market cap 9.78%
Second Best
Retail
$1.96M
$1.71M – $2.28M
NOI $136,969 @ 7.0% cap · market cap 9.13%
Theoretical Best
Office A
$2.77M
$2.42M – $3.23M
NOI $193,658 @ 7.0% cap · market cap 12.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Kelly Chimenti, PT
Physician
Mecca-Copp Flo
Physician
Brian M. Ciaccia, ...
Physician
Press-Ellingha Lara K
Physician
Cindy Makasziw, PT
Physician
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FAQs
What type of property is this?
Retail space - Prime retail property in Rochester's East End entertainment district.
Where is this retail space located?
The property is located at 384 East Ave Rochester, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Prime location in Rochester's East End entertainment district, next to a Courtyard by Marriott, offering high visibility.; Spacious 10,099 sq. ft. building with a ballroom, central bar, and private event bar, accommodating 25‑125+ guests.; Currently home to JoLi, a thriving private event and catering company with an on‑site take‑out kitchen, offering immediate income.
