22 Franklin CtRochester, NY 14614

Property Details for 22 Franklin Ct

Lot size

0.17 AC

Zone code

24

Property type

Parking lots & garages

APN

261400 106.80-1-40.001

APU

26140010680140001

Description

This exceptional 0.38-acre commercial land parcel, located at 22 and 30 Franklin Court in Rochester, NY (14604), presents a unique investment opportunity. Currently operating as a profitable parking lot generating approximately $38,000 in annual income, the property offers immediate cash flow. The site comprises two parcels, each offering potential for significant development. The combined area of 0.38 acres provides ample space for various projects. Adjacent parcels totaling an additional 0.14 acres are also available for purchase, expanding the potential development area to approximately 0.52 acres. This prime location in the heart of downtown Rochester offers unparalleled access to amenities and high visibility. The property's current use as a parking lot with approximately 55-60 spaces demonstrates strong market demand. The site's triangular shape presents a unique architectural challenge and opportunity for creative development. This is a turnkey opportunity for developers seeking a high-yield, income-producing asset in a thriving urban environment. The asking price for this exceptional property is $225,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,757,802

  6.5%

  $1,622,586

  7%

  $1,506,687

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,704,798

  Geo Method

  $1,426,452

• Alternative Use

  Use

  Valuation

  Residential

  $1,368,712

  Hospitality

  $1,253,733

  Educational

  $1,043,091

  Medical

  $1,078,965

  Retail

  $1,622,586

Location Insight

City

Rochester

County

Monroe

State

New York

Latitude

43.1591

Longitude

-77.6056

CBSA code

40380

CBSA name

ROCHESTER, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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