Rochester, New York, is a prime location for investing in Office Properties For Sale, with 1 available listings. Office Properties in Rochester offer a unique opportunity for investors to tap into the city's strong economy, driven by its renowned universities, such as the University of Rochester and Rochester Institute of Technology, and major employers like Paychex and Wegmans. These properties can represent a range of investments, from single-story buildings to multi-tenant office complexes, catering to various business needs. Rochester's Office Properties boast a range of characteristics that make them an attractive investment option, including proximity to amenities like hospitals, parks, and sports facilities, as well as its strategic location on the southern shore of Lake Ontario. The city's infrastructure, including the Frederick Douglass Greater Rochester International Airport and the Louise M. Slaughter Rochester Station, ensures easy access to national and international markets. With an average price per square foot of $145 USD and an average size of 48,532 square feet, Rochester's Office Properties offer a compelling investment opportunity. The city's attractions, such as the Lilac Festival and the Rochester International Jazz Festival, also make it an ideal location for businesses and travelers alike.
Rochester's Office Properties are part of a larger commercial real estate landscape, which includes Commercial Real Estate, Apartment Buildings, Shopping Centers, and Hotels. The city's Commercial Real Estate market offers a range of opportunities, from industrial parks to retail spaces. Apartment Buildings in Rochester cater to a growing population of students and professionals, while Shopping Centers provide a hub for local commerce. Hotels in Rochester, such as those near the airport and downtown area, serve a steady stream of business travelers and tourists. With its rich history, cultural attractions, and strong economy, Rochester is an excellent location for investing in Office Properties, offering a unique blend of business and leisure opportunities. The city's Office Properties, with an average cap rate of 10.11%, are an attractive option for investors seeking a stable and profitable investment.
What is the average price per square foot for office properties in Rochester?
The average price per square foot for office properties in Rochester is $145 USD per square foot, with 1 available listings ranging in size from 48,532 square feet to 780,915 square feet, and an average cap rate of 10.11%.
What should I know about office property classifications (Class A, B, C)?
When searching for office properties for sale in Rochester, it's essential to understand the classification system, which categorizes properties based on their quality, amenities, and location, to make an informed investment decision.
- Class A office properties are typically high-rise buildings with modern amenities, prime locations, and high-quality finishes, attracting top-tier tenants and commanding the highest rents.
- Class B office properties offer functional space with standard amenities, often located in decent areas, and are suitable for a wide range of tenants, with rents lower than Class A properties.
- Class C office properties are typically older buildings with limited amenities, located in less desirable areas, and often require renovation, offering the lowest rents and highest vacancy rates.
