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    10 Miracle Mile Dr Rochester, NY 14623-5851
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    Property profile & analytics

    10 Miracle Mile Dr Rochester, NY 14623-5851

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    • Medical Office Space
    • 323,859 SF
    • 19.12 lot acres
    Off-Market
    Last Sale May 2, 2022
    Property ID
    US63-1460284
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $13,210,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • David Mitten, MD / Physician
    • Sears Appliance Repair / Home Appliance Store
    • UR Medicine Orthopaedics & Physical Performance – Marketplace / Medical Clinic
    • UR Imaging / Physician
    • UR Medicine Orthopaedics & Physical Performance Center / Physician

    Property Details for 10 Miracle Mile Dr

    Year built
    1982
    Lot size
    19.12 lot acres
    Property size
    323,859 SF
    Zone code
    05 - COMMERCIAL
    Property type
    Medical Office Space
    Property subtype
    Medical centers
    APN
    263200 161.12-1-1.112
    APU
    2632001611211112

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      MEDICAL BUILDING
      $17,995,000
      Current use
      RETAIL STORES
      $15,925,000
      Change: -12% Conversion: Difficult
      OFFICE BUILDING
      $15,810,000
      Change: -12% Conversion: Easy
      AUTO REPAIR, GARAGE
      $15,550,000
      Change: -14% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.6326
    Latitude
    43.0822
    CBSA code
    40380
    CBSA name
    ROCHESTER, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $1,656,000
    $97,224,000
    $98,880,000
    -
    $1,656,000
    $97,224,000
    $98,880,000

    Comparable in this City

    • Value Estimation
      $1,985,000
      22,004 SF

      1850 Brighton Henrietta Town Line Rd

      MEDICAL CLINIC • 22,004 SF
      1850 Brighton Henrietta Town Line Rd, Rochester, NY 14623-2532
      View Details
    • Value Estimation
      $775,000
      20,455 SF

      740 Henrietta Rd

      MEDICAL CLINIC • 20,455 SF
      740 Henrietta Rd, Rochester, NY 14623-1406
      View Details
    • Value Estimation
      $945,000
      21,327 SF

      1025 Cmns Way

      MEDICAL CLINIC • 21,327 SF
      1025 Cmns Way, Rochester, NY 14623-3152
      View Details
    • Value Estimation
      $9,420,000
      94,000 SF

      260 Calkins Rd

      MEDICAL CLINIC • 94,000 SF
      260 Calkins Rd, Rochester, NY 14623-4210
      View Details
    • Value Estimation by Request
      2,349 SF

      2024 Henrietta Rd

      Medical Office Space • 2,349 SF
      2024 Henrietta Rd, Brighton, NY 14623
      View Details
    • Value Estimation by Request

      Red Crk Dr

      Medical Office Space
      0 Red Crk Dr, Henrietta, NY 14623
      View Details

    Similar Nearby for Sale

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      27,105 SF

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      27,105 SF Medical/Office Building - Value-Add Opportunity
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      27,105 SF

      Prime Office Space Near I-390

      Office suites available near I-390, Rochester.
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      Office space in Southview Commons, excellent expressway access.
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      Office and Retail Development

      Office and retail property in suburban Rochester, New York.
      211 White Spruce Blvd, Rochester, NY 14623
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    Similar Nearby for Lease

    • $20 SF/Yr
      2,243 SF

      Class A Medical/Retail Endcap Unit

      2,243 SF end-cap unit in Henrietta, NY for lease.
      2685 E Henrietta Rd, Henrietta, NY 14623
      View Details
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      Medical & Professional Office Space

      Multi-tenant medical and professional office space for lease.
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      View Details
    • $17 SF/Yr

      Former Veterinary Clinic Sublease

      Sublease opportunity in Brighton/Henrietta area, Rochester, NY.
      825 White Spruce Blvd, Rochester, NY 14623
      View Details
    • Contact for pricing
      28,219 SF

      Southview Commons Office Sublease

      Former veterinary clinic available for sublease in Brighton/Henrietta area.
      825 White Spruce Blvd, Rochester, NY 14623
      View Details
    • Contact for pricing
      12,180 SF

      Prime Retail Space Available

      Retail space with high visibility and accessibility near Wegmans.
      2199 E Henrietta Rd, Rochester, NY 14623
      View Details
    • Contact for pricing
      5,403 SF

      Flex Space in Henrietta Suburb

      Flex space in a campus-style business park available for rent.
      1565 Jefferson Rd, Rochester, NY 14623
      View Details
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    Rochester, NY 14623-5851
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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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