Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • 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
    Property profile & analytics

    165 Un St Newark, NY 14513-1559

    • Office buildings
    • 37,440 SF
    • 0.23 lot acres
    OFF-MARKET
    Last Sale
    Nov 01, 2022
    $840,000
    Value Estimations
    $940,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3664875
    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.

    Current Use by Public Records

    • Natural Health Chiropractic / Chiropractor
    • Leff James DC / Chiropractor
    • Nesbitt & Williams LLP / Attorney
    • Clifton Springs Family Medicine / Hospital
    • RRH Vascular Surgery - Newark / Vascular Surgeon

    Property Details for 165 Un St

    Year built
    1960
    Lot size
    0.23 lot acres
    Property size
    37,440 SF
    Zone code
    B2
    Property type
    Office buildings
    APN
    542001 68111-18-394044
    APU
    5420016811118394044

    Description

    Exceptional 2,871 sq ft medical office suite available for lease at 165 E Union St, Suite 224, Newark, NY 14513. This single-tenant space, previously occupied by Rochester Regional Health, is ideally situated in historic Downtown Newark, a short walk from the Erie Canal. The building, constructed in 1920, features four stories and a total of 46,800 square feet. This suite boasts seven exam rooms, each with guest seating and built-in sinks and counters for efficient workflow. Ample storage is available for supplies, diagnostic materials, and PPE. Three administrative offices, a large reception area with an ADA-compliant bathroom, additional filing storage, a centralized technology center, another ADA bathroom, an eye wash station, and an in-unit janitorial room provide comprehensive functionality. The property includes 20 parking spaces and sits on 0.23 acres of land. The building is zoned A02 and is in Wayne County. This is a gross lease, encompassing rent, heat, electricity, central air, water, sewer, CAM expenses, taxes, and building insurance. A new elevator has recently been installed. This turnkey solution offers immediate occupancy for medical professionals seeking a fully equipped, convenient, and well-located practice space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $915,000
      ML approach
      $935,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,004,000
      Market price range: $1.00M - $2.68M

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

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Wayne
    State
    New York
    Longitude
    -77.0934
    Latitude
    43.0465
    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
    $69,000
    $417,700
    $486,700
    -
    $107,813
    $652,656
    $760,469

    Comparable in this City

    • Value Estimation
      $280,000
      10,368 SF

      1200 Driving Park Ave

      PROFESSIONAL BUILDING • 10,368 SF
      1200 Driving Park Ave, Newark, NY 14513-1090
      View Details
    • Value Estimation
      $255,000
      2,450 SF

      1000 Driving Park Ave

      PROFESSIONAL BUILDING • 2,450 SF
      1000 Driving Park Ave, Newark, NY 14513-1050
      View Details
    • Value Estimation
      $235,000
      2,756 SF

      1141 Un St

      OFFICE BUILDING • 2,756 SF
      1141 Un St, Newark, NY 14513-9201
      View Details
    • Value Estimation
      $265,000
      0.22 Acres

      Maple St

      OFFICE BUILDING • 0.22 Acres
      Maple St, Newark, NY 14513
      View Details
    • Value Estimation
      $205,000
      5,280 SF

      132 Harrison St

      OFFICE BUILDING • 5,280 SF
      132 Harrison St, Newark, NY 14513-1234
      View Details
    • Value Estimation
      $245,000
      5,490 SF

      101 Main St

      OFFICE BUILDING • 5,490 SF
      101 Main St, Newark, NY 14513-1240
      View Details

    Similar Nearby for Sale

    • $950,000
      7,370 SF

      Newark Restaurant & Apartment

      Turnkey Restaurant, Apartment, Garage
      1121 Union St, Newark, NY 14513
      View Details
    • $49,900
      Pending

      Commercial Land on Route 31

      4.41-acre commercial lot in high-visibility Newark location.
      L36 Rte 31 Ext E, Newark, NY 14513
      View Details
    • $165,000

      Spacious Commercial Property with Patios

      Roomy commercial property with patios, ideal for various businesses.
      145 Railroad Ave, Newark, NY 14513
      View Details
    • $500,000

      Residential Land Development Opportunity

      Land conceptually approved for residential development in Newark, NY.
      479 Nathaniel Way, Newark, NY 14513
      View Details
    • $310,000
      Pending

      Newark Multifamily on 3 Acres

      Well-maintained 3-unit multifamily property on a private 3-acre lot.
      6007 Clark Rd, Newark, NY 14513
      View Details
    • $700,000
      7,370 SF

      Turnkey Restaurant with Apartment and Garage

      Fully operational 182-seat restaurant with apartment and garage in Newark.
      1121 E Union St, Newark, NY 14513
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      383,924 SF

      Cultivation & Industry Premier Facility

      Large warehouse, flex, and industrial spaces with greenhouse infrastructure.
      609 East Maple Ave, Newark, NY 14513
      View Details
    • Contact for pricing
      5,893 SF

      Retail Spaces in Pro-May Mall

      Retail spaces for lease in Newark's largest commercial area.
      510 W Union St, Newark, NY 14513
      View Details
    • $2,200 /Mo

      Downtown Corner Retail Space

      Prime corner property in Newark's downtown area.
      202 S Main St, Newark, NY 14513
      View Details
    • $8 SF/Yr
      87,243 SF

      Arcadia Shopping Center

      Retail properties • 87,243 SF
      6740 Ny-31, Newark, NY 14513
      View Details
    • Contact for pricing

      Commercial Outparcel Near Walmart

      Outparcel to Walmart anchored center, build-to-suit options available.
      6776 State Route 31 E, Newark, NY 14513
      View Details
    Request Owner's contact information
    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.
    165 Un St
    Newark, NY 14513-1559
    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
    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

    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.