243 Main StAlbion, NY 14411

Property Details for 243 Main St

Year built

1970

Lot size

4.12 AC

Property size (Sq ft)

58,531 SF

Zone code

07 - MIXED

Property type

Office buildings

APN

342001 73.10-2-52.11

APU

342001731025211

Description

This exceptional investment opportunity presents a 58,531-square-foot medical office building situated on a 4.12-acre lot at 243 S Main St, Albion, NY 14411. Built in 1950 with a 1978 addition, this two-story building boasts ample on-site parking and is currently approximately 75% occupied by a mix of smaller, short-term tenants. The property features three elevators: two passenger and one freight, providing convenient access to all floors. The building's design incorporates abundant natural light, creating a welcoming and productive work environment. Currently operating as a multi-tenant office building, this property presents a compelling investment opportunity for continued commercial use. Alternatively, its "PC" Planned Commercial Development zoning and flexible lease terms offer significant potential for adaptive reuse, such as conversion to residential units. Located in Orleans County, this property enjoys a strategic location, approximately one hour northeast of Buffalo and 45 minutes west of Rochester, providing easy access to a substantial workforce and regional amenities. The asking price for this substantial property is $2,000,000. This presents a rare chance to acquire a large-scale property with significant upside potential in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $10,026,256

  6.5%

  $9,255,006

  7%

  $8,593,934

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,473,397

  Geo Method

  $3,682,185

• Alternative Use

  Use

  Valuation

  Residential

  $11,476,207

  Hospitality

  $10,512,144

  Educational

  $8,745,980

  Medical

  $9,046,768

  Retail

  $13,604,858

Location Insight

City

Albion

County

Orleans

State

New York

Latitude

43.2383

Longitude

-78.1919

CBSA code

40380

CBSA name

ROCHESTER, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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