6-Unit Apartment
For Sale
$550,000
2 White St, Holley, NY 14470
Brick-and-stone multifamily property with updated kitchens, renewed windows, and month-to-month residential leases.
Property Size3,728 SF
Price / SF$147.53
Days on Market111
Property Features for 2 White St
General Information
Standard status
Active
Size
3,728 SF
Total Parking Spaces
10
Property subtype
Multi-Unit
Units
Unit Mix
5 x 2BR, 1 x 1BR
Multifamily Units
6
Additional Details
Road Access
Yes
Building Details
Building Size
3,728 SF
Year Built
1880
Buildings
1
Construction
brick and stone
Listing Agency:
Rochester Office
(585) 248-9426
Listed By:
Lindsey Latorre
(585) 248-9426
Source:
Pyramidbrokerage
Added: May 14
Changed: Aug 30
Last Checked: Aug 31 at 12:38PM
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 Rochester Office
Investment Insights
Based on property information with market context.
Located at 2 White St in Holley, NY, this 3,728 SF apartment building occupies a distinctive 1880 brick-and-stone structure with a clock tower. The property contains six residential units: five two-bedroom apartments and one one-bedroom apartment. All units are leased month-to-month.
Recent improvements include updated kitchens, a new roof, a replacement entry door, and all new windows. Ten on-site parking spaces serve the building. The property fronts the Route 31 corridor at the intersection of White Street and Route 31, approximately 30 miles west of Rochester in Orleans County, with access to regional traffic between Rochester and Niagara County.
Recent improvements include updated kitchens, a new roof, a replacement entry door, and all new windows. Ten on-site parking spaces serve the building. The property fronts the Route 31 corridor at the intersection of White Street and Route 31, approximately 30 miles west of Rochester in Orleans County, with access to regional traffic between Rochester and Niagara County.
Key Highlights
- Six‑unit multifamily property with five two‑bedroom units and one one‑bedroom unit
- 3,728 SF building at 2 White St, Holley, NY
- Historic 1880 brick‑and‑stone structure with clock tower
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
$38,243
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
6.95%
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%
$764,860
$764.9K
Cap Rate 7%
$546,329
$546.3K
Cap Rate 9%
$424,922
$424.9K
Market Conditions
NOI Build-Up for 3,728 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
$73.8K $19.80/SF
− Vacancy
−$4.3K −$1.15/SF
EGI
$69.5K $18.65/SF
− OpEx
−$31.3K −$8.39/SF
NOI
$38.2K $10.26/SF
Area
Orleans County, NY
Vacancy
5.80%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$764,860
Cap Rate 7%
$546,329
Cap Rate 9%
$424,922
Alternative Uses
Best Use
Apartment 5plus
$546.3K
$478.0K – $637.4K
NOI $38,243 @ 7.0% cap · market cap 6.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$893.6K – $1.19M
NOI $71,488 @ 7.0% cap · market cap 13.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
126
Businesses Nearby
Explore this area
Business Placement
Demographics for 14470, NY
7,648
Population
3,436
Households
2.2
Avg Household Size
45
Median Age
20%
College-Educated
92%
High-School Grad
65.1 sq mi
ZIP Area
117
Density / Sq Mi
$63,201
Median Household Income
$45,538
Median Earnings
$775
Median Rent
$139,900
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?
Apartment building - Brick-and-stone multifamily property with updated kitchens, renewed windows, and month-to-month residential leases.
Where is this apartment building located?
The property is located at 2 White St Holley, NY.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Six‑unit multifamily property with five two‑bedroom units and one one‑bedroom unit; 3,728 SF building at 2 White St, Holley, NY; Historic 1880 brick‑and‑stone structure with clock tower
