This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.
You must register your contact information to view secure information on this listing.

Share This Listing

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

511-527 State St

24,000 SF 100% Leased Retail Building Rochester, NY 14608 $2,548,705 CAD ($106.20 CAD/SF) 8.49% Cap Rate

INVESTMENT HIGHLIGHTS

  • Fully renovated in 2015
  • Close proximity to downtown Rochester
  • Elevator and electronic entry system
  • Lender Reviewed
  • Walkable to restaurants and entertainment
  • Modernized apartments and office suites

EXECUTIVE SUMMARY

Presenting a fully renovated mixed-use property located at 511-527 State Street in Rochester, NY 14608. This prime investment consists of two buildings situated on a .64-acre lot, offering cross access between State Street and Frankfort Street and providing the convenience of off-street parking. The front building on State Street includes office suites, a warehouse, and 8 fully remodeled residential apartments, while the rear building on Frankfort Street features additional remodeled office suites and a small warehouse. Together, the buildings offer a total of 24 units, with 14 commercial tenants and 8 residential tenants in place, along with 2 vacant commercial units ready for leasing opportunities.
Originally built in 1910, the property underwent a complete renovation in 2015, including an elevator, modern sprinkler systems throughout, and electronic entry for enhanced security. The apartments and office spaces have been updated, giving the property a fresh, contemporary appeal. Located on a bus line and within walking distance to popular destinations like Frontier Field, Monroe Community College, High Falls, Genesee Brewery, and various restaurants and shopping, the property also benefits from its proximity to downtown Rochester, making it an ideal location for both commercial and residential tenants. Zoned CCD-R (Center City Riverfront), this property offers a range of potential uses for investors looking to capitalize on Rochester’s thriving Center City.

DATA ROOM Click Here to Access

FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access

ANNUAL (CAD) ANNUAL PER SF (CAD)
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
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 - 2024) Click Here to Access

Gross Rental Income (CAD)
Annual $99,999
Annual Per SF $9.99
Other Income (CAD)
Annual $99,999
Annual Per SF $9.99
Vacancy Loss (CAD)
Annual $99,999
Annual Per SF $9.99
Effective Gross Income (CAD)
Annual $99,999
Annual Per SF $9.99
Taxes (CAD)
Annual $99,999
Annual Per SF $9.99
Operating Expenses (CAD)
Annual $99,999
Annual Per SF $9.99
Total Expenses (CAD)
Annual $99,999
Annual Per SF $9.99
Net Operating Income (CAD)
Annual $99,999
Annual Per SF $9.99

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
24,000 SF
Building Class
B
Year Built/Renovated
1910/2015
Price
$2,548,705 CAD
Price Per SF
$106.20 CAD
Cap Rate
8.49%
NOI
$216,506 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Loading Docks
1 Exterior
Building FAR
0.87
Lot Size
0.64 AC
Opportunity Zone
Yes
Zoning
CCD-R - Center City Riverfront
Parking
24 Spaces (1 Space per 1,000 SF Leased)
Frontage
116’ on State Street

AMENITIES

  • Bus Line
  • Roof Terrace
  • Air Conditioning
Walk Score®
Very Walkable (74)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

NEARBY MAJOR RETAILERS

KeyBank
Bank of America
Dinosaur Bar-B-Que
Chase Bank
Citizens Bank
Tops Friendly Markets

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
261400 106.61-1-40.003
Land Assessment
$163,150 CAD (2023)
Improvements Assessment
$1,052,675 CAD (2023)
Total Assessment
$1,215,826 CAD (2023)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
  • Listing ID: 33539981

  • Date on Market: 2024-10-16

  • Last Updated:

  • Address: 511-527 State St, Rochester, NY 14608

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, 'rating') }}
255 character limit ({{ remainingChars() }} characters remainingover)
{{ getErrorText(feedbackForm.msg, 'rating') }}
{{ getErrorText(feedbackForm.fname, 'first name') }}
{{ getErrorText(feedbackForm.lname, 'last name') }}
{{ getErrorText(feedbackForm.phone, 'phone number') }}
{{ getErrorText(feedbackForm.phonex, 'phone extension') }}
{{ getErrorText(feedbackForm.email, 'email address') }}