Building Details

Building Size 7,088 SF

Year Built 1900

Stories 3

Listing Agency: Keller Williams Realty Greater Rochester b***@kw.com Show Phone

Listed By: Robert K. Malone · License #30MA0937209 Show Phone

Source: Elliman

Added: Nov 28, 2025 Changed: Aug 8 Last Checked: Aug 21 at 9:51AM

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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 Keller Williams Realty Greater Rochester

Investment Insights

Based on property information with market context.

This turn-key, 10-suite bed and breakfast combines historic charm with modern comfort. The property, formerly a mill, features a waterfront location complete with a dock and waterfall. Each suite includes a private bath, and several suites also have fireplaces. The inn is located minutes from the Genesee Country Village & Museum, approximately 30 minutes from Rochester and Geneseo, and about an hour from Buffalo. The property includes undeveloped waterfront and acreage, offering potential for expansion, such as additional rooms, new buildings, or an event venue. The property is located in Wheatland, NY.

Key Highlights

• Turn‑key 10‑suite waterfront Bed & Breakfast with historic charm and modern amenities.
• Includes a dock and waterfall, enhancing the property's appeal.
• Excellent location near Genesee Country Village & Museum, Rochester/Geneseo, and Buffalo.

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

$27,776

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

3.49%

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%

$555,520 $555.5K

Cap Rate 7%

$396,800 $396.8K

Cap Rate 9%

$308,622 $308.6K

Market Conditions

NOI Build-Up for 7,088 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

$106.3K $15.00/SF

− Vacancy

−$47.8K −$6.75/SF

EGI

$58.5K $8.25/SF

− OpEx

−$30.7K −$4.33/SF

NOI

$27.8K $3.92/SF

Area

Monroe County, NY

Vacancy

45.00%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

52.50%

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%

$555,520

Cap Rate 7%

$396,800

Cap Rate 9%

$308,622

Alternative Uses

Best Use

Hotel Hospitality

$396.8K

$347.2K – $462.9K (±1% cap)

NOI $27,776 @ 7.0% cap · market cap 3.49%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$1.36M

$1.19M – $1.59M (±1% cap)

NOI $95,248 @ 7.0% cap · market cap 11.98%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Bed & breakfasts

Suggested Use

Top Pick HVAC Service Auto Repair Shop Grocery & Convenience Store Hair Salon Garden Center Clothing & Fashion Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

42

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 14511, NY

520

Population

168

Households

3.1

Avg Household Size

49

Median Age

72%

College-Educated

96%

High-School Grad

2.8 sq mi

ZIP Area

186

Density / Sq Mi

$54,958

Median Household Income

$44,162

Median Earnings

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Frequently Asked Questions

What type of property is this?

Bed & breakfast - Ten-suite bed and breakfast with waterfront, dock, and waterfall.

Where is this bed & breakfast located?

The property is located at 948 George St Wheatland, NY.

What is the asking price?

The asking price for this property is $794,995.

What are key features of this property?

This property features: Turn‑key 10‑suite waterfront Bed & Breakfast with historic charm and modern amenities.; Includes a dock and waterfall, enhancing the property's appeal.; Excellent location near Genesee Country Village & Museum, Rochester/Geneseo, and Buffalo.