47 Main StRochester, NY 14614

Property Details for 47 Main St

Year built

1954

Lot size

0.26 AC

Property size (Sq ft)

16,000 SF

Property type

Office properties

Property subtype

Office buildings

APN

261400 121.22-1-43./UN01

APU

26140012122143UN01

Description

This three-story, 25,248-square-foot office building, constructed in 1954, presents a compelling investment opportunity in Rochester, NY's Central Business District. Strategically located at the intersection of West Main Street and Fitzhugh Street, it offers convenient access and on-site parking for 32 vehicles. The building's versatility lends itself to various uses, including owner-occupancy by a professional services firm, multi-tenant redevelopment, or even residential conversion. Key features include a recently rebuilt main elevator motor (2022), a new roof installed in 2014 with a transferable 20-year warranty, a new rooftop chiller (2017), and updated parking lot lighting (2021). The building is connected to the Rochester District Steam Heating Cooperative, ensuring efficient and reliable heating. The asking price is $1,200,000, translating to $47.53 per square foot. This historic property offers a unique chance to acquire a substantial presence in a thriving downtown location. The building includes a basement in addition to the three floors.

• CAP approach

  CAP return

  Valuation

  6%

  $2,583,732

  6.5%

  $2,384,984

  7%

  $2,214,628

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,461,731

  Geo Method

  $1,222,881

• Alternative Use

  Use

  Valuation

  Residential

  $2,957,380

  Hospitality

  $2,708,944

  Educational

  $2,253,809

  Medical

  $2,331,321

  Retail

  $3,505,926

Location Insight

City

Rochester

County

Monroe

State

New York

Latitude

43.155

Longitude

-77.6143

CBSA code

40380

CBSA name

ROCHESTER, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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