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2619 Culver Rd 14,000 SF 100% Leased Office Building Rochester, NY 14609 $3,500,000 ($250/SF) 8.25% Cap Rate
Executive Summary
Well-located medical office investment opportunity in Irondequoit, just south of NYS Route 104 at the Culver Road exit. The property consists of an approximately 14,000 SF two-story medical office building occupied by Borg & Ide Imaging and Rochester Regional Health Sports Medicine Institute, with approximately 1,675 SF available for lease. The tenants are currently on fully gross leases with relatively short remaining lease terms. The offering also includes an adjacent 1.16 acre vacant buildable parcel, providing additional long-term upside priced at $300,000. Strong existing income, established medical tenants, paved parking, signage, and convenient Culver Road access.
Estimated NOI: $288,840.61
Asking Price: $3,500,000
Estimated NOI: $288,840.61
Asking Price: $3,500,000
Property Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Medical
Building Size
14,000 SF
Building Class
A
Year Built
2008
Price
$3,500,000
Price Per SF
$250
Cap Rate
8.25%
NOI
$288,841
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
7,000 SF
Slab To Slab
11’
Building FAR
0.24
Lot Size
1.34 AC
Zoning
07 - Flexible mixed-use zoning supporting a variety of commercial, retail, office, service, and residential uses.
Parking
50 Spaces (3.57 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
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Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 263400-092-100-0002-003-131 | Improvements Assessment | $1,001,400 |
| Land Assessment | $228,600 | Total Assessment | $1,230,000 |
Property Taxes
Parcel Number
263400-092-100-0002-003-131
Land Assessment
$228,600
Improvements Assessment
$1,001,400
Total Assessment
$1,230,000
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2619 Culver Rd