1005 Portland AveRochester, NY 14621

Property Details for 1005 Portland Ave

Year built

1920

Lot size

0.16 AC

Property size (Sq ft)

4,969 SF

Property type

Retail properties

Property subtype

Mixed-use properties

Description

This exceptional mixed-use property, located at 1005 Portland Avenue in Rochester, NY, presents a compelling investment opportunity. The building, constructed in 1920, boasts a total of 4,969 square feet across two stories and sits on a 0.16-acre lot. The property features a prime corner location with high traffic counts, making it ideal for both residential and commercial ventures. The building comprises one storefront and three apartments: two one-bedroom units and one two-bedroom unit. Currently, the property enjoys an 80% occupancy rate with two tenants. The asking price is $189,900, translating to a price per square foot of $38.22 and a compelling 19.40% capitalization rate. The Net Operating Income (NOI) stands at $36,840. Recent improvements include the installation of two new hot water tanks this year. The property is zoned for commercial use and has a Monroe County APN of 261400-091-750-0002-062-000-0000. This is a rare chance to acquire a well-situated, income-generating mixed-use property in a thriving Rochester neighborhood. The building's solid construction and strong rental history make it an attractive investment for both owner-users and passive investors seeking a high return. All units are currently rented.

Location Insight

City

Rochester

County

Monroe

State

New York

Latitude

43.1841

Longitude

-77.5847

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