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 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%

  $2,928,230

  6.5%

  $2,702,980

  7%

  $2,509,910

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,461,730

  Geo Method

  $1,222,880

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $5,581,280

  Retail / Commercial

  $2,811,210

  Mixed-Use / Specialty

  $2,761,120

  Hospitality / Lodging

  $1,973,580

  Institutional / Educational

  $2,856,130

  Residential Income

  $3,341,670

  Multifamily

  $4,229,950

  Automotive / Energy

  $2,448,110

  Parking / Income-Based Land

  $884,399

  Restaurant / Food Service

  $1,350,570

  Healthcare / Senior Housing

  $2,872,560

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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