511-527 State StRochester, NY 14608

For Sale
$1,850,000

24 Units, High Occupancy, Strong NOI

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional mixed-use property, located at 511-527 State Street in Rochester, NY, presents a compelling investment opportunity. The property comprises two buildings totaling 24,492 square feet on a 0.67-acre lot, offering convenient cross-access between State and Frankfort Streets, along with off-street parking. The buildings, constructed in 1910 and fully renovated in 2015, boast a blend of commercial and residential spaces. The State Street building houses office suites, a warehouse, and eight fully remodeled residential apartments, while the Frankfort Street building features additional remodeled office suites and another small warehouse. Currently, the property enjoys 96% occupancy, with 14 commercial and 8 residential tenants. Two vacant commercial units offer immediate leasing potential. Modern amenities include an elevator, updated sprinkler systems, and electronic entry for enhanced security. The apartments and office spaces feature contemporary updates. Situated on a bus line and within walking distance of Frontier Field, Monroe Community College, High Falls, Genesee Brewery, and numerous restaurants and shops, this property benefits from its proximity to downtown Rochester. Zoned CCD-R (Center City Riverfront), this investment offers a strong 7.26% cap rate and a Pro-Forma NOI of $134,300, making it an ideal acquisition for investors seeking a stabilized, mixed-use asset in a vibrant urban setting. The asking price is $1,850,000, with a price per square foot of $75.53. The property features four stories and is comprised of 24 units.

Highlights

  • 2015 Complete Renovation
  • Modernized Apartments & Office Suites
  • Downtown Rochester Location
  • Walkable to Dining & Entertainment
  • Elevator & Secure Electronic Entry

Property Details for 511-527 State St

Property type
Multifamily properties, Apartment buildings
Square Feet
24,492 SF
Year Built/Renovated
1910/2015
Buildings
2
Stories
4
Lot Size (sq. ft)
29,185 SF
Units
24

Location Insight

City
Rochester
County
Monroe
State
New York
Latitude
43.163939048112
Longitude
-77.622556363821
511-527 State St, Rochester, New York

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
511-527 State St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message