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    Historic Valley Building Office/Retail Space Title is generated by Realmo AI

    339 East Ave, Rochester, NY 14604

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    Office and retail spaces available in historic Valley Building.

    Type:Retail, Office
    Property size:
    20,000 SF
    Added:
    Nov 27, 2024
    Days on Market:
    552
    Last Refresh:
    May 12 at 9:00 pm

    Property Features for 339 East Ave

    General Information

    Standard status
    Active
    Size
    20,000 SF
    Property subtype
    Retail, Office

    Building Details

    Year Built
    1927

    Spaces For Lease

    at 339 East Ave Contact us

    3rd Floor $12/Mo

    Size
    2,550 SF
    Type
    Office
    Space Available 2,550 SFnRental Rate $12.00 /SF/YRnDate Available December 01, 2024nService...
    show more
    Contact us

    Retail - Suite 100 $20/Mo

    Size
    3,491 SF
    Type
    Retail
    Exceptional +/- 3,500 square foot end-cap retail space offering a rare combination...
    show more
    Contact us

    4th Floor - 3 $15/Mo

    Size
    11,465 SF
    Type
    Office
    Space Available 11,465 SFnRental Rate $15.00 /SF/YRnDate Available December 01, 2024nService...
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    3rd Floor - 2 $12/Mo

    Size
    3,880 SF
    Type
    Office
    Space Available 3,880 SFnRental Rate $12.00 /SF/YRnDate Available December 01, 2024nService...
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    Contact us

    4th Floor $12/Mo

    Size
    2,220 SF
    Type
    Office
    Space Available 2,220 SFnRental Rate $12.00 /SF/YRnDate Available December 01, 2024nService...
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    2nd Floor $15/Mo

    Size
    5,050 SF
    Type
    Office
    Space Available 5,050 SFnRental Rate $15.00 /SF/YRnDate Available December 01, 2024nService...
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    4th Floor - 2 $15/Mo

    Size
    3,300 SF
    Type
    Office
    Space Available 3,300 SFnRental Rate $15.00 /SF/YRnDate Available December 01, 2024nService...
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    Contact us
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    We can help!

    Listing Contact
    Adam Rooney
    Adam Rooney

    Listing agent Adam Rooney License #NY 10491211713

    Listing office Benchmark Realty Advisors, LLC

    Listing date Nov 27, 2024

    Source Crexi

    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 Benchmark Realty Advisors, LLC

    HighLights

    • Historic building with office and retail space configurations.
    • Interior 50+ car parking garage.
    • Recently renovated office suites with abundant natural light.
    • Contiguous floorplates available (approximately +/-20,000 SF).
    • Retail storefronts available on East Avenue (ranging from -/+ 1,350 - 3,500 SF).
    • Nearby surface parking lots in addition to the garage.

    Overview

    The Historic Valley Building on East Avenue is available for lease. Recently purchased by a local developer, the building offers various office and retail space configurations. A notable feature is the interior 50+ car parking garage, originally built by Valley Cadillac Corporation for inventory storage from the 1940s to 1970s. Additional surface parking lots are located nearby. Several office suites have been recently renovated, providing turn-key availability and abundant natural light. Entire contiguous floorplates of approximately +/-20,000 square feet can be made available. Retail storefronts on East Avenue range in size from +/- 1,350 to 3,500 square feet, including a large end-cap former bar/recreation space with an office mezzanine, and a former bar/restaurant space next to Albunn Coffee House. The building is located in Rochester, NY.
    Location Intelligence

    Current Use by Public Records

    Air Systems Balancing-Testing Hardware & Home Improvement FLACRA - Mental Health ... Crisis Center Vanguard Professional Concrete ... Construction Company Michael Susco Physician Ali Baba Restaurant

    Suggested Use

    Real Estate Agency Restaurant Dental Office Spa & Massage Center Law Firm Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.5954538
    Latitude
    43.1551182

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    FAQs

    What type of property is this?
    Office units - Office and retail spaces available in historic Valley Building.
    Where is this office units located?
    The property is located at 339 East Ave Rochester, NY.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: Historic building with office and retail space configurations.; Interior 50+ car parking garage.; Recently renovated office suites with abundant natural light.
    (585) 337-1764 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Adam Rooney
    Adam Rooney
    Real Estate License ID: NY 10491211713
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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