Mixed-Use Quadplex Investment with
For Sale
$899,900
28 Main Street, Geneseo, NY 14454
COMMERCIAL - Geneseo, NY
Property Size6,595 SF
Lot Size0.11 Acres
Price / SF$136.45
Days on Market17
Property Features for 28 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
5
Zoning description
Commercial
Rooms
Basement
Parking
20
Parking features
Paved or Surfaced
Lot features
Rectangular, Rectangular Lot
Elementary school district
Geneseo
Middle school district
Geneseo
High school district
Geneseo
Directions
Main Street Geneseo Village, corner of Main and University
Subdivision
Geneseo-Village-242601
Standard status
Active
APN
242601-080-012-0003-035-000-0000
Size
6,595 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
17338
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Natural Gas, Baseboard
Cooling system
Central Air
Water source
Public
Building Details
Year built
1958
Floors in Building
2
Number of units
7
Flooring type
Linoleum, Carpet, Vinyl, Hardwood, Varies
Roof type
Asphalt, Metal
Listing Agency:
AB Cole Real Estate, Inc.
(585) 243-2643
Listed By:
Patricia A. Cole · License #10311208149
(585) 243-2643
Added: Jul 24
Changed: Aug 4
Last Checked: Aug 9 at 8:06PM
MLS# R1701528
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-property package includes 28 Main Street, 6 University Avenue, and 10 University Avenue. 28 Main Street is a mixed-use building with two commercial storefronts and four fully furnished apartments operated as college rentals. The residential unit mix includes one 1-bedroom, one 2-bedroom, one 3-bedroom, and one 4-bedroom apartment, with furniture and appliances included in the college rental units. The front storefront is currently occupied by a beauty salon, and the rear commercial space is leased to Monroe Title. The property has been well maintained with some updates and is in good overall condition.
10 University Avenue is a newer commercial building constructed in 2000 and currently leased in excellent condition. 6 University Avenue includes a vacant building sold AS IS, providing options for renovation, redevelopment, or expansion.
The overall offering includes public water and public sewer, central air conditioning, paved or surfaced parking, and a combination of asphalt and metal roofing. The listing also indicates an existing lot size of 0.1082 acres and a total property size of 6,595 square feet.
10 University Avenue is a newer commercial building constructed in 2000 and currently leased in excellent condition. 6 University Avenue includes a vacant building sold AS IS, providing options for renovation, redevelopment, or expansion.
The overall offering includes public water and public sewer, central air conditioning, paved or surfaced parking, and a combination of asphalt and metal roofing. The listing also indicates an existing lot size of 0.1082 acres and a total property size of 6,595 square feet.
Key Highlights
- 28 Main Street: two commercial storefronts and four fully furnished college rental apartments
- Apartment mix at 28 Main Street: one 1‑bedroom, one 2‑bedroom, one 3‑bedroom, one 4‑bedroom
- Front storefront on 28 Main Street occupied by a beauty salon; rear leased to Monroe Title
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$75,901
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,518,020
$1.5M
Cap Rate 7%
$1,084,300
$1.1M
Cap Rate 9%
$843,344
$843.3K
Market Conditions
NOI Build-Up for 6,595 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$114.8K $17.40/SF
− Vacancy
−$6.3K −$0.96/SF
EGI
$108.4K $16.44/SF
− OpEx
−$32.5K −$4.93/SF
NOI
$75.9K $11.51/SF
Area
Livingston County, NY
Vacancy
5.51%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,518,020
Cap Rate 7%
$1,084,300
Cap Rate 9%
$843,344
Alternative Uses
Best Use
Retail
$1.28M
$1.12M – $1.49M
NOI $89,446 @ 7.0% cap · market cap 9.94%
Second Best
Multifamily LT 5
$1.08M
$948.8K – $1.27M
NOI $75,901 @ 7.0% cap · market cap 8.43%
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M
NOI $126,466 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
528
Businesses Nearby
Explore this area
Business Placement
Demographics for 14454, NY
10,759
Population
3,937
Households
2.7
Avg Household Size
28
Median Age
50%
College-Educated
95%
High-School Grad
47.6 sq mi
ZIP Area
226
Density / Sq Mi
$66,629
Median Household Income
$12,055
Median Earnings
$1,000
Median Rent
$217,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Three contiguous Geneseo properties include storefront space and furnished college rental apartments, with commercial leases in place.
Where is this quadplex located?
The property is located at 28 Main Street Geneseo, NY.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: 28 Main Street: two commercial storefronts and four fully furnished college rental apartments; Apartment mix at 28 Main Street: one 1‑bedroom, one 2‑bedroom, one 3‑bedroom, one 4‑bedroom; Front storefront on 28 Main Street occupied by a beauty salon; rear leased to Monroe Title
