490 State StRochester, NY 14608

Property Details for 490 State St

Year built

1960

Lot size

0.24 AC

Property size (Sq ft)

1,808 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

261400 106.61-1-38

APU

26140010661138

Description

This exceptional 2,000 square foot restaurant located at 490 State St, Rochester, NY 14608, presents a unique investment opportunity. The single-story, 1-unit building sits on a 0.17-acre corner lot with a traffic light, ensuring high visibility and accessibility. Built in 1960 and renovated in 1987, the property boasts a CCD-R Center City Riverfront zoning designation, allowing for a variety of uses. Currently operating as Spiro's Restaurant, the property includes all existing restaurant infrastructure and equipment, offering a turnkey solution for a new owner. The high-traffic location sees over 16,000 vehicles daily, providing excellent potential for sustained patronage. This established business offers a chance to continue a successful operation or to transform the space to meet new business aspirations. The property's prime location and flexible zoning make it an ideal investment for those seeking a high-visibility, high-traffic location in Rochester's thriving community. The asking price is $395,000. APN: 261400-106-610-0001-038-000-0000.

• CAP approach

  CAP return

  Valuation

  6%

  $429,184

  6.5%

  $396,170

  7%

  $367,872

• Comparable approach

  Method

  Valuation

  Relative Method

  $416,242

  Geo Method

  $348,211

• Alternative Use

  Use

  Valuation

  Residential

  $334,184

  Hospitality

  $306,111

  Educational

  $254,680

  Medical

  $263,439

  Retail

  $396,170

Location Insight

City

Rochester

County

Monroe

State

New York

Latitude

43.1637

Longitude

-77.6218

CBSA code

40380

CBSA name

ROCHESTER, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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