Renovated Mixed-Use
137 S MAIN ST Canandaigua, NY 14424
137 S MAIN ST, Canandaigua, NY, 14424
$695,000
For Sale
$695,000
Three-story mixed-use property with a main-floor restaurant and two fully renovated apartments above.
Property Size4,000 SF
Price / SF$173.75
Days on Market224
Property Features for 137 S MAIN ST
General Information
- Standard status
- Active
- Size
- 4,000 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1900
Listing agency
Griffith Realty Group
(585) 314-1991
Listed by
James Griffith
(585) 314-1991
Source
Xome
Added: Dec 9, 2025 Updated: Jul 20 at 9:58PM Checked: Jul 21 at 3:07AM
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 Griffith Realty Group
Investment Insights
Based on property information with market context.
This fully renovated three-story mixed-use building features a well-established, high-end restaurant on the main floor and luxury apartments on the second and third floors. The upper floors were completely renovated in 2018, taken down to the brick and rebuilt with all-new electrical, plumbing, HVAC, granite countertops, and hardwood floors. The building exterior was refaced in 2020.
Located in downtown Canandaigua’s Central Business District at 137 S Main St, the property benefits from a walkable downtown setting near the Finger Lakes area.
Current rents are $2,100 per month for the first-floor restaurant, $1,800 per month for the second-floor apartment, and $1,500 per month for the third-floor apartment. The apartments previously operated as AirBnB units, generating up to $300 per night, and the second- and third-floor rents are described as below market, with market rent estimated at approximately $1,800 per unit.
Located in downtown Canandaigua’s Central Business District at 137 S Main St, the property benefits from a walkable downtown setting near the Finger Lakes area.
Current rents are $2,100 per month for the first-floor restaurant, $1,800 per month for the second-floor apartment, and $1,500 per month for the third-floor apartment. The apartments previously operated as AirBnB units, generating up to $300 per night, and the second- and third-floor rents are described as below market, with market rent estimated at approximately $1,800 per unit.
Key Highlights
- Fully renovated three‑story mixed‑use building with a restaurant on the main floor and apartments on floors 2 and 3
- Current rents: restaurant $2,100/month; 2nd‑floor apartment $1,800/month; 3rd‑floor apartment $1,500/month
- Upper floors completely renovated in 2018 down to the brick, with new electrical, plumbing, HVAC, granite countertops, and hardwood floors
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 | $86.4k | $21.60 |
| − Vacancy | −$2.2k | −$0.56 |
| EGI | $84.2k | $21.04 |
| − OpEx | −$21.0k | −$5.26 |
| NOI | $63.1k | $15.78 |
4,000 SF · lease $21.60/SF/yr · vacancy 2.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$901.6K
$788.9K – $1.05M
NOI $63,115 @ 7.0% cap · market cap 9.08%
Second Best
Multifamily LT 5
$731.8K
$640.3K – $853.8K
NOI $51,227 @ 7.0% cap · market cap 7.37%
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,808 @ 7.0% cap · market cap 12.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Il Posto Bistro
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Three-story mixed-use property with a main-floor restaurant and two fully renovated apartments above.
Where is this conventional restaurant located?
The property is located at 137 S MAIN ST Canandaigua, NY.
What is the asking price?
The asking price for this property is $695,000.
What are key features of this property?
This property features: Fully renovated three‑story mixed‑use building with a restaurant on the main floor and apartments on floors 2 and 3; Current rents: restaurant $2,100/month; 2nd‑floor apartment $1,800/month; 3rd‑floor apartment $1,500/month; Upper floors completely renovated in 2018 down to the brick, with new electrical, plumbing, HVAC, granite countertops, and hardwood floors
