Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    38 Chapin St Canandaigua, NY 14424

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $315,000

    Rooming house with 9 rooms and 4.5 baths.

    Lot size:
    0.18 Acres

    Property Features for 38 Chapin St

    General Information

    Property type
    Investment
    Standard status
    Active
    Lot size
    0.18 Acres

    Building Details

    Year built
    1940

    We can help!

    Listing Contact
    Jon J. Bagley
    Source: Elliman

    Listing Agent: Jon J. Bagley

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

    Learn more

    Overview

    Canandaigua Rooming House For Sale

    Located in Canandaigua, NY, this rooming house features 9 rooms, including 2 double rooms, and 4.5 baths. The property is fully rented and offers 4 entrance/exit points, along with 4 parking spots. The net operating income is $55,776. The property may also be suitable as a large single-family home. It is being offered as a turnkey property. Please allow 48 hours notice for showing appointments. This is one of three properties being listed.
    Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Canandaigua
    County
    Ontario
    State
    New York
    Longitude
    -77.2827721
    Latitude
    42.886524

    Nearby Similar for Sale

    • $699,000
      6,208 SF

      Medical Office Building Near Hospital

      Two-story, 6,208 SF medical office building for sale.
      199 Parrish Street Ext, Canandaigua, NY 14424
      View Details
    • New
      $449,000
      1,992 SF

      Cash-Flowing Duplex in Canandaigua

      Fully occupied duplex producing immediate income in a high-demand rental market.
      196 Bristol St, Canandaigua, NY 14424
      View Details
    • $379,000
      Pending

      Canandaigua Triplex For Sale

      Cash-flowing triplex in Canandaigua with immediate income and upside.
      112 Bristol St, Canandaigua, NY 14424
      View Details
    • $575,000
      3,487 SF

      Turnkey Restaurant & Real Estate Package

      Fully operational restaurant, real estate, and apartment in downtown Canandaigua.
      215 S Main St, Canandaigua, NY 14424
      View Details
    • $899,900
      5,632 SF

      Historic Fire Station Mixed-Use Property

      Versatile Canandaigua property with retail and residential spaces.
      13 Niagara St, Canandaigua, NY 14424
      View Details
    • $350,000
      4,200 SF

      Transportation Hub with Fenced Yard

      Warehouse with large yard, overhead doors, and office space.
      3854 State Route 5 And 20, Canandaigua, NY 14424
      View Details
    • $4,485,000
      42,132 SF

      Leased Retail Strip Mall Plaza

      Two-building retail strip mall in Canandaigua, New York.
      64-74 West Ave, Canandaigua, NY 14424
      View Details
    • $899,000

      Finger Lakes Bed & Breakfast

      Turnkey bed and breakfast in the Finger Lakes region.
      4508 State Route 64, Canandaigua, NY 14424
      View Details
    • $899,000

      Bristol Specialty Property for Sale

      Specialty property available for purchase in Bristol, New York.
      4508 State Route 64, Canandaigua, NY 14424
      View Details
    • $339,000
      Pending

      Turnkey Rooming House Investment

      Fully occupied 9-bedroom rooming house with high cap rate.
      146 Pleasant St, Canandaigua, NY 14424
      View Details
    • $315,000

      Canandaigua Rooming House Investment

      Rooming house with 9 rooms and a high cap rate.
      38 Chapin St, Canandaigua, NY 14424
      View Details
    • $899,900
      5,632 SF

      complete with two storefronts and separate entrances. Altogether

      the property offers over 5000 square feet of high ceilings and open areas across both floors
      13 Niagara St, Canandaigua, NY 14424
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Rooming house with 9 rooms and 4.5 baths.
    Where is this multifamily property located?
    The property is located at 38 Chapin St Canandaigua, NY.
    What is the asking price?
    The asking price for this property is $315,000.
    What are key features of this property?
    This property features: - High Cap Rate: 15-20% cap rate indicates strong potential for return on investment; - Fully Rented: Property is currently generating income with all rooms occupied; - $55,776 NOI demonstrates substantial profitability
    (585) 943-2022
    Request Owner's contact information
    38 Chapin St Canandaigua, NY 14424
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    38 Chapin St
    Canandaigua, NY 14424
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    38 Chapin St Canandaigua, NY 14424
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Jon J. Bagley
    (585) 943-2022 (585) 394-8000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!