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Erie Canal Professional Suites 90 Erie Canal Dr 7,160 SF 100% Leased Office Building Rochester, NY 14626 $949,000 ($132.54/SF) 6.39% Cap Rate
INVESTMENT HIGHLIGHTS
- New mechanicals, and fresh buildouts
- Solid, established tenants
- Annually increases
- Professionally managed
- Seven years remaining on both leases
EXECUTIVE SUMMARY
Medical/Office Mailbox Money. Professionally Managed. Newly Upgraded. Perfect for a 1031 Exchange Buyer
Currently two tenants; however, building was originally designed to be 4 suites and conversion would be easy. Seven years remaining on both leases with two 5 year options to renew. Upgrades for the new tenant include HVAC, flooring, an additional bathroom, upgraded break area, a conference and reception areas and lighting.
The second tenant, approximately 1600 sq.ft.. has been there 3 years already and already exercised a 7 year extension. Space was also updated upon tenant move in.
Both leases are modified gross, with tenants paying for their own utilities. Both leases have annual increases. Pro-forma NOI based on 12 months beginning this November is
All showings need to be scheduled 24 hrs in advance.
PLEASE DO NOT DISTURB TENANTS, 24 HRS
Leases have annual escalations, tenants pay their own utilities.
Currently two tenants; however, building was originally designed to be 4 suites and conversion would be easy. Seven years remaining on both leases with two 5 year options to renew. Upgrades for the new tenant include HVAC, flooring, an additional bathroom, upgraded break area, a conference and reception areas and lighting.
The second tenant, approximately 1600 sq.ft.. has been there 3 years already and already exercised a 7 year extension. Space was also updated upon tenant move in.
Both leases are modified gross, with tenants paying for their own utilities. Both leases have annual increases. Pro-forma NOI based on 12 months beginning this November is
All showings need to be scheduled 24 hrs in advance.
PLEASE DO NOT DISTURB TENANTS, 24 HRS
Leases have annual escalations, tenants pay their own utilities.
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
7,160 SF
Building Class
B
Year Built/Renovated
1990/2024
Price
$949,000
Price Per SF
$132.54
Cap Rate
6.39%
NOI
$60,672
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
7,160 SF
Building FAR
0.19
Lot Size
0.87 AC
Zoning
05 - General office, medical office
Parking
40 Spaces (5.54 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Controlled Access
- Wheelchair Accessible
- Monument Signage
- Air Conditioning
- Smoke Detector
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Gavia Life Care Services
- Health Care and Social Assistance
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
- Minoritech, Inc
- Professional, Scientific, and Technical Services
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Gavia Life Care Services | Health Care and Social Assistance | 99,999 SF | - | Lorem Ipsum | Jan 0000 | |
| Minoritech, Inc | Professional, Scientific, and Technical Services | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
1 1
PROPERTY TAXES
| Parcel Number | 262800-089-030-0004-011-000 | Total Assessment | $630,200 (2024) |
| Land Assessment | $80,100 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $550,100 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
262800-089-030-0004-011-000
Land Assessment
$80,100 (2024)
Improvements Assessment
$550,100 (2024)
Total Assessment
$630,200 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Erie Canal Professional Suites | 90 Erie Canal Dr
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