Finding the right dental office for rent in Rochester takes research and persistence, but it really matters.
Medical Real Estate Focused Team
Industry Leading Demographics
Hundreds of Successful Clients
So, you’re thinking about space for your practice in Rochester – exciting! Navigating the commercial real estate market is a little different than the residential one, so we’ve created this short guide of tips and key pitfalls to avoid while trying to find a dental office for rent in Rochester.
Where can you find a dental office for rent?
Commercial Real Estate Agents
Commercial Real Estate Agents use their local market knowledge and relationships alongside databases of properties to find and screen available properties for their clients.
Most commercial real estate agents specialize on either landlord representation or tenant representation. We almost exclusively represent medical tenants, the majority of which are dentists looking to find a dental office for rent.
Hit the Street
Driving areas you are interested in can be a good way to get a feel for what is out there on the market. When trying to find a dental office for rent in Rochester, you’ll want to be sure to take note of the existing practices that are nearby.
There are a number of distinct neighborhoods in Rochester and many surrounding suburbs including Brighton, Ogden, Hilton, Brockport, Parma, and Mendon.
Downtown Rochester is the primary economic district in the city. The Central Business District – also called Washington Square – is the location of some of the largest businesses and office space in the city.
Areas such as High Falls, Grove Place, St. Paul Quarter, East End, the Cascade District, and Four Corners are a mix of residential neighborhoods and commercial enclaves, many emerging from the remnants of former manufacturing warehouses.
The 19th Ward is a major neighborhood in the southwest portion of the city that is home to a diverse population and a mix of residential and commercial spaces acting as a sort of secondary city center. This area also contains many designated historical districts.
From Southwedge to Swillbug to Homestead Heights and Corn Hill, various neighborhoods in Rochester are home to a diverse population of residents and a host to many successful local businesses.
Keep in mind, if you go to a landlord’s broker directly without representation, the landlord’s broker simply keeps the entire listing fee from the landlord instead of splitting the fee with an independent agent of your choosing.
Some landlords won’t pay a tenant agent (your agent) if you’ve discussed a space in depth with them on your own previously. This can make it tricky to bring in outside representation later.
There are several listing services that are available for free online. They are less comprehensive than the paid databases, and are often less frequently updated. Searching through them is a great way to get a feel for what you like and don’t like in commercial properties, but can be a hard way to find a dental office for rent. Take note of any property features or amenities that strike you as important for your practice.
Rochester Dental Demographics
After New York City and Buffalo, Rochester is the third most populous city in the state of New York. It is the seat of Monroe County and is estimated to consist of more than 208,000 residents.
The city has become an attraction to various immigrant groups over the last 50 years, building large populations of Eastern European, Sub-Saharan African, and Caribbean descent. The city also has the highest percentage population of Puerto Rican immigrants of any major U.S. city.
The estimated median household income in Rochester was $31,693 according to 2016 census data, well below the New York state estimated median household income of $62,909. However, because of the low cost of living and the comparison to the metropolis of New York City.
The median age of residents in Rochester is 31.5 years old, significantly below the New York state median of 38.4 years.
Medical Real Estate in Rochester
Due to the concentration of people in Rochester, the best space can come at a premium. Costs per square foot can be higher and occupancies rare in certain competitive neighborhoods. This is why it is vital to have a well-rounded understanding of the many factors that go into selecting an ideal location for your dental or other medical practice.
Get the benefits of agent representation at no cost to you
A commercial real estate agent specializing in medical leasing can help you to consider all of your options and select the perfect location that both fits within your budget and satisfies all of your business needs.
Best of all, commercial landlords typically pay the entire agent fee when finalizing an agreement. Why not take advantage of the benefits of enlisting qualified professional agents that will help you to get the best deal on the right property.
Ways to offset lease expenses in your dental practice
Although the rent for your Rochester dental office may seem to take up a large part of your expenses, there are several ways you can help bring those costs down.
Consider renting out an operatory to specialists wishing to do work for patients in your area. Keep non-profit-producing space to a minimum. Efficient scheduling practices can help to eliminate the need for a large waiting space. Or, consider whether a similar but less expensive neighborhood would be a better deal for the bottom line.
Lease costs for healthcare real estate in Rochester can be expensive, but there are enormous opportunities for great dentists who start their practices off right with the perfect location.
Ready to find a dental office for rent?
We do the heavy lifting of combing through property databases and running demographics and competition reports for you. We work exclusively with medical clients, so we know how dental practices work and what it takes to be successful. Use the form below to get in touch and we’ll reach out shortly.