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90 Erie Canal Dr
Rochester, NY 14626
Medical Office Investment Opportunity · Office Property For Sale
Investment Highlights
- Effective May 1, 2026, reassessment bringing a $9400 reduction in taxes
- Annual rent increases
- Solid, established tenants
- New mechanicals, and fresh buildouts.
- Professionally managed
- 5 years remaining on both leases
Executive Summary
Medical, Fully Leased, 5 year terms remaining, 8% Cap, newly reduced property taxes.?
90 Erie Canal, a fully leased medical office investment featuring an 8% cap rate and a motivated seller.? A recent assessment appeal has reduced property taxes by $9,400 effective May 1, 2026.?
Property Highlights:
- Tenant 1 (5,500 sq.? ft.?): Modified gross lease through June 2032 with 2% annual increases and two 5-year options.? Includes new HVAC, flooring, and an additional ADA bathroom.?
- Tenant 2 (1,600 sq.? ft.?): Lease through Q1 2031 with recent paint, flooring, and hot water tank updates.?
- Both units include kitchenettes, private entrances, dedicated signage, and separate utilities (except water).?
Financial projections are based on annualized Q1 data and the new tax rate.? To review the full rent roll and financials, please return a signed Confidentiality Agreement (CA).? Showings require 24-hour notice; please do not disturb the tenants.?
90 Erie Canal, a fully leased medical office investment featuring an 8% cap rate and a motivated seller.? A recent assessment appeal has reduced property taxes by $9,400 effective May 1, 2026.?
Property Highlights:
- Tenant 1 (5,500 sq.? ft.?): Modified gross lease through June 2032 with 2% annual increases and two 5-year options.? Includes new HVAC, flooring, and an additional ADA bathroom.?
- Tenant 2 (1,600 sq.? ft.?): Lease through Q1 2031 with recent paint, flooring, and hot water tank updates.?
- Both units include kitchenettes, private entrances, dedicated signage, and separate utilities (except water).?
Financial projections are based on annualized Q1 data and the new tax rate.? To review the full rent roll and financials, please return a signed Confidentiality Agreement (CA).? Showings require 24-hour notice; please do not disturb the tenants.?
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
7,160 SF
Building Class
B
Year Built/Renovated
1990/2024
Price
$849,000
Price Per SF
$118.58
Cap Rate
8.22%
NOI
$69,806
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
20 Spaces (2.79 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Controlled Access
- Wheelchair Accessible
- Monument Signage
- Air Conditioning
- Smoke Detector
Property Taxes
| Parcel Number | 262800-089-030-0004-011-000 | Improvements Assessment | $550,100 |
| Land Assessment | $80,100 | Total Assessment | $630,200 |
Property Taxes
Parcel Number
262800-089-030-0004-011-000
Land Assessment
$80,100
Improvements Assessment
$550,100
Total Assessment
$630,200
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