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    Rochester Restaurant Opportunity on State Title is generated by Realmo AI

    490 State St, Rochester, NY

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    Established restaurant location available for sale in Rochester, NY.

    Type:RETAIL
    Property size:
    2,000 SF
    Lot size:
    0.17 Acres
    Price / SF:
    $197/SF
    Added:
    Oct 28, 2024
    Days on Market:
    608
    Last Refresh:
    May 20 at 9:57 pm

    Property Features for 490 State St

    General Information

    Standard status
    Active
    Size
    2,000 SF
    Lot size
    0.17 Acres
    Property subtype
    RETAIL

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    Michael Conroy
    Michael Conroy

    Listing office EXP Commercial

    Listing date Oct 28, 2024

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of EXP Commercial

    HighLights

    • High‑traffic corner lot with traffic light access, capturing over 16,000 vehicles daily.
    • Turnkey restaurant operation with all existing infrastructure and equipment included.
    • Established site with a 40+ year history as Spiro’s Restaurant, a local favorite.
    • Zoning supports a wide range of uses within fully enclosed buildings.
    • Highly visible location in Rochester’s thriving community.
    • Opportunity to acquire a cornerstone property in Rochester.

    Overview

    Located at 490 State Street in Rochester, NY, this property presents a commercial opportunity. The site has been home to Spiro’s Restaurant for over 40 years. Situated on a corner lot with traffic light access, the location benefits from high visibility and traffic, with over 16,000 vehicles passing daily. The property is equipped to continue operating as a diner or to be transformed for other business uses. All existing restaurant infrastructure and equipment are included, offering a turnkey solution. The zoning supports a range of uses within fully enclosed buildings. The property offers flexibility and an ideal location for a business venture. The building size is 2,000 square feet.

    Local Financial Insights For Specialty Retail

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $43.2k $21.60
    − Vacancy −$4.4k −$2.22
    EGI $38.8k $19.38
    − OpEx −$9.7k −$4.84
    NOI $29.1k $14.53
    2,000 SF · lease $21.60/SF/yr · vacancy 10.30% · expense 25.00%

    Alternative Uses

    Best Use
    Specialty Retail
    $415.2K
    $363.3K – $484.4K (±1% cap)
    NOI $29,063 @ 7.0% cap · market cap 7.36%
    Second Best
    Retail
    $387.5K
    $339.1K – $452.1K (±1% cap)
    NOI $27,125 @ 7.0% cap · market cap 6.87%
    Theoretical Best
    Office A
    $547.9K
    $479.4K – $639.2K (±1% cap)
    NOI $38,352 @ 7.0% cap · market cap 9.71%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Spiro's Restaurant

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Law Firm Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Busy Bee — 124 W Main St, Rochester, NY 14614
    • Ethiopian Eng’s Egg Factory — 263 central ave, rochester, ny 14605

    Location Insight

    • Map
    • Local Demand
    City
    Rochester
    County
    Monroe
    State
    New York
    Longitude
    -77.6218
    Latitude
    43.1637

    FAQs

    What type of property is this?
    Breakfast & diner - Established restaurant location available for sale in Rochester, NY.
    Where is this breakfast & diner located?
    The property is located at 490 State St Rochester, NY.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: High‑traffic corner lot with traffic light access, capturing over 16,000 vehicles daily.; Turnkey restaurant operation with all existing infrastructure and equipment included.; Established site with a 40+ year history as Spiro’s Restaurant, a local favorite.
    (585) 802-3327 Call to check price and availability
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