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Property profile & analytics
OFF-MARKET Estimated value $660,000
Office buildings

186-188 Water St Rochester, NY 14604

7,150 SF 0.17 ac lot Built 1930
Entity Owned 4-yr Hold ~ Est. High Equity
Property ID
US63-3798147
Property summary
AI-generated overview

This exceptional 7,000 square foot office space, located at 186-188 North Water Street in downtown Rochester, NY 14604, is available for lease. Previously occupied by an engineering firm, the lower-level space offers a flexible layout including numerous private offices, open work areas with built-in workstations, and multiple conference rooms. The space is easily divisible into two suites, each approximately 3,000-4,000 square feet, depending on tenant needs. The entire building encompasses 14,300 square feet and is classified as Class B. This prime location offers unparalleled convenience, situated next to the inner loop for easy access to major highways. A variety of restaurants and amenities are within walking distance, including the nearby Roc the Riverway development. This is a fantastic opportunity for a business seeking a well-appointed, adaptable space in a vibrant downtown setting. The property is a single-tenant occupancy.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1930
Total area 7,150 SF
Lot 0.17 ac (7,405 SF)
APN 261400 106.79-1-4.001
UPID US63-3798147
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$515k
CAP Approach CAP
by Request
Comparable Approach Comparable
$899k
Blend (final) Blend
$660k
Owner & transaction history
186 N Water LLC · 4 yrs held
186 N Water LLC
since 2022
Last sale
$650,000
4 recorded transactions
2022
$650,000
2011
Price N/A
2009
Price N/A
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant $910,000 +53.6%
Auto repair, garage $765,000 +29.0%
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