Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    111 East Ave Rochester, NY 14604

    Sponsored
    For Lease
    $10 SF/Yr

    Multiple Suites Available, 1,200+ SF

    Lot size:
    227,440 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    408
    This exceptional retail property at 111 East Ave offers a unique investment opportunity. The nine-story, Class B building, totaling 227,440 square feet, boasts 247 suites and sits on 1.3 acres of land. Originally constructed in 1921 and extensively renovated in 2014, the building currently has 7,511 square feet of vacant space available for lease. Three immediately available spaces range from 1,171 to 3,740 square feet, perfect for a variety of retail uses. One former Dunkin' Donuts space (2,600 sq ft) is available at a minimum of $17.00 per square foot on a modified gross lease, requiring a minimum three-year lease term and including tenant improvements. A former restaurant space (3,740 sq ft) is also available at a minimum of $10.00 per square foot on a modified gross lease, with a minimum three-year term and limited tenant improvements (paint and carpet cleaning). Finally, a former tattoo parlor (1,171 sq ft) is available at a minimum of $17.00 per square foot on a modified gross lease, with a minimum three-year term and limited tenant improvements (paint and carpet cleaning). All leases are modified gross and include utilities. The minimum leasable space is 1,200 square feet. This property presents a compelling opportunity for businesses seeking high-visibility retail space in a well-established location. Contact us today to learn more about these exciting leasing opportunities.

    Property Features for 111 East Ave

    General Information

    Property type
    Individual retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    227,440 SF
    Class
    B
    Total Rate
    189533.33

    Building Details

    Year Built/Renovated
    1921/2014
    Stories
    9

    Unit(s) available at that property

    Space
    Available Space 1
    Size
    1,171 SF
    Rate per SF
    $18
    Space
    Available Space 3
    Size
    3,740 SF
    Rate per SF
    $10
    Space
    Available Space 2
    Size
    2,600 SF
    Rate per SF
    $18

    We can help!

    Listing Contact
    Peter Gillett
    Peter Gillett

    Learn more

    HighLights

    • Retail storefront, multi‑tenant building totaling 227,440 square feet.
    • Minimum divisible space: 1,200 square feet; 247 suites total; 7,511 square feet currently vacant.
    • 1.3‑acre site; Class B building; constructed in 1921, renovated in 2014; nine stories.
    • Three available retail spaces ranging from 1,171 to 3,740 square feet.
    • Modified gross lease structure; minimum lease term of three years; rent ranges from $10 to $17 per square foot, plus utilities; tenant improvement allowances vary by space.
    Property Profile Location Intelligence

    Current Use by Public Records

    Micheal Browns Immigration ... Immigration Attorney 111 on East Apartment Building Beelightful Candles Candle Store Ken's Japanese Language ... Tutoring Service Process Industries Consultants Engineer

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Law Firm Building Supply Daycare Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.6015851
    Latitude
    43.1565549

    Nearby Similar for Lease

    • $535,000
      4,362 SF

      Versatile Commercial Space Near Arcadia High

      Adaptable commercial building suitable for medical, office, or childcare uses.
      353 Island Cottage Rd, Rochester, NY 14612
      View Details
    • $5,000 /Mo
      4,362 SF

      Rochester Medical/Professional Office Space

      Meticulously maintained medical building suitable for various professional uses.
      353 Island Cottage Rd, Rochester, NY 14612
      View Details
    • New
      $2,300 /Mo
      1,650 SF

      Updated Commercial Space on Monroe

      Updated commercial space suitable for salon, retail, office, or medical.
      1704 Monroe Ave, Rochester, NY 14618
      View Details
    • $15 SF/Yr
      32,052 SF

      Linden Oaks Office Space Available

      Office spaces for rent in a well-maintained park-like setting.
      100 Linden Oaks, Rochester, NY 14625
      View Details
    • $10 SF/Yr
      20,781 SF

      Stone Gate Office Complex Suites

      Flexible office spaces available in a well-maintained Rochester complex.
      2005 Lyell Ave, Rochester, NY 14606
      View Details
    • $14 SF/Yr
      6,000 SF

      Rochester Office Spaces for Lease

      Office spaces available with flexible layouts and included amenities.
      1577 W Ridge Rd, Rochester, NY 14615
      View Details
    • $590,000
      8,320 SF

      Versatile Office Building in Rochester

      8320 sq ft office building with flexible leasing options.
      1171 Titus Avenue Ext, Rochester, NY 14617
      View Details
    • $15 SF/Yr
      2,400 SF

      Brighton Office Suite for Lease

      2,400 SF office suite in desirable Brighton commercial corridor.
      37 Allens Creek Rd, Rochester, NY 14618
      View Details
    • $925 /Mo
      21,342 SF

      Stately Office Building in Rochester

      Charming office building with modern amenities and convenient location.
      16 N Goodman St, Rochester, NY 14607
      View Details
    • $4,500 /Mo
      5,440 SF

      Rochester Commercial Property with Acreage

      5,440 sq ft building on 4.18 acres in Rochester.
      50 Wilbur Tract Rd, Rochester, NY 14609
      View Details
    • $1,000 /Mo
      13,670 SF

      Updated Office Space Available

      Handicap accessible office space with flexible options in central location.
      233 Alexander St, Rochester, NY 14607
      View Details
    • $1.00 SF/Yr
      2,916 SF

      Freestanding Building in Emerging District

      High-visibility 2,916 SF building in Rochester's active retail corridor.
      266-270 Monroe Ave, Rochester, NY 14607
      View Details

    FAQs

    What type of property is this?
    Individual retail property - Multiple Suites Available, 1,200+ SF
    Where is this individual retail property located?
    The property is located at 111 East Ave Rochester, NY.
    What is the lease rate?
    The lease rate is $10-$18 SF/Yr.
    What are key features of this property?
    This property features: Retail storefront, multi-tenant building totaling 227,440 square feet.; Minimum divisible space: 1,200 square feet; 247 suites total; 7,511 square feet currently vacant.; 1.3-acre site; Class B building; constructed in 1921, renovated in 2014; nine stories.
    Request Owner's contact information
    111 East Ave Rochester, NY 14604
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    111 East Ave
    Rochester, NY 14604
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    111 East Ave Rochester, NY 14604
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Peter Gillett
    Peter Gillett
    Real Estate License ID: NY 10491208239
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.