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    248 W Commercial St East Rochester, NY 14445

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    For Lease
    Contact for pricing

    Four office spaces available for rent in East Rochester, NY.

    Type:Retail, Office, Special Purpose
    Property size:
    275 SF
    Added:
    Apr 3, 2021
    Days on Market:
    1825
    Last Refresh:
    Mar 17 at 1:17 pm

    Property Features for 248 W Commercial St

    General Information

    Standard status
    Active
    Size
    275 SF
    Property subtype
    Retail, Office, Special Purpose

    Building Details

    Year Built
    1930

    Spaces For Lease

    at 248 W Commercial St Contact us

    Suite 6 $2 /Mo

    Size
    130 SF
    Type
    Office, Special Purpose
    Suite 6: Second floor center office adjacent to Suite 5 with natural light. The space...
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    Suite 7 $2 /Mo

    Size
    154 SF
    Type
    Office, Special Purpose
    Suite 7: Second floor center office adjacent to Suite 6 with natural light. The...
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    Contact us

    First Floor Rear $1.93 /Mo

    Size
    275 SF
    Type
    Office
    Beautiful first floor Office directly off rear parking area with rich looking built-in...
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    Suites 5, 6, and 7 Together $1.68 /Mo

    Size
    544 SF
    Type
    Office, Special Purpose
    Suites 5, 6, and 7. All 3 Offices on second floor TOGETHER with common hallway and...
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    Suite 5 $1.67 /Mo

    Size
    260 SF
    Type
    Office, Special Purpose
    Suite 5: Second floor front corner office with lots of natural light, a bay window,...
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    We can help!

    Listing Contact
    Randy Haller

    Listing agent Randy Haller License #NY 30HA1041853

    Listing office Select Realty Plus

    Listing date Apr 3, 2021

    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 Select Realty Plus

    Overview

    East Rochester Office Spaces Available

    Four office spaces are available for rent on the first and second floors of a building located on a busy corner. The available spaces range from 130 to 275 square feet. Suite 5, located on the second floor, offers abundant natural light and measures approximately 260 square feet. Suite 6, also on the second floor and adjacent to Suite 5, provides approximately 130 square feet of space. Suite 7, adjacent to Suite 6, offers approximately 154 square feet. The combined area of Suites 5, 6, and 7 is approximately 544 square feet. The first-floor office, accessible from the rear entrance, provides approximately 275 square feet. All offices include utilities and central air conditioning. An HVAC air filtration system has been installed. The second floor features two restrooms and a sitting area, with staircases leading to the front and rear parking areas. The property is suitable for various businesses, including tax offices, attorney offices, tutoring centers, web design firms, telemarketing operations, distribution offices, massage therapists, and counseling offices. The building has new carpeting, fresh paint, and new ceilings. Existing tenants include an insurance agency, a massage therapist, a digital graphics company, and a video marketing firm. High-speed fiber-optic internet options from Greenlight or Frontier, as well as Spectrum internet, are available. Free parking is available.
    Location Intelligence

    Current Use by Public Records

    Crystal's Beauty Salon ... Hair Salon Met Life Auto ... Insurance Agency Dog Tales Grooming ... Pet Grooming Service Icon Branding & Design ... Marketing & Advertising Wyse Touch Therapeutic ... Alternative Medicine Practice

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    East Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.4904535
    Latitude
    43.1141861

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    FAQs

    What type of property is this?
    Office units - Four office spaces available for rent in East Rochester, NY.
    Where is this office units located?
    The property is located at 248 W Commercial St East Rochester, NY.
    What are key features of this property?
    This property features: Multiple office suites available, ranging from 130 to 275 sq. ft.; All utilities are included with central A/C.; Recently renovated with new carpeting, fresh paint, and new ceilings.
    We can help!
    Listing Contact
    Randy Haller
    Real Estate License ID: NY 30HA1041853
    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.

    More about this property
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