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90 Erie Canal Dr
Rochester, NY 14626
Erie Canal Professional Suites · Office Property For Sale
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.
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
7,160 SF
Building Class
B
Year Built/Renovated
1990/2024
Price
$1,305,463 CAD
Price Per SF
$182.33 CAD
Cap Rate
6.39%
NOI
$83,462 CAD
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
PROPERTY TAXES
| Parcel Number | 262800-089-030-0004-011-000 | Improvements Assessment | $775,151 CAD |
| Land Assessment | $112,870 CAD | Total Assessment | $888,021 CAD |
PROPERTY TAXES
Parcel Number
262800-089-030-0004-011-000
Land Assessment
$112,870 CAD
Improvements Assessment
$775,151 CAD
Total Assessment
$888,021 CAD
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