4-Unit Multifamily
For Sale
$449,900
23 N Main Street, Brockport, NY 14420
Four-unit residential income property with coin-operated laundry and recent major mechanical and electrical updates.
Property Size4,460 SF
Price / SF$99.98
Days on Market84
Property Features for 23 N Main Street
General Information
Standard status
Active
Size
4,460 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$8,614
Building Details
Building Size
4,460 SF
Year Built
1900
Stories
2
Units
4
Tenancy
Multi
Listing Agency:
Revolution Real Estate
(585) 737-6168
Listed By:
Justin E Brosnan · License #10401264388
(585) 737-6168
Source:
Wcirealty
Added: Jun 2
Changed: Aug 23
Last Checked: Aug 23 at 6:35AM
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 Revolution Real Estate
Investment Insights
Based on property information with market context.
This 4-unit multifamily property is configured for separate residential living spaces within a single building. The exterior features vinyl siding, and the building includes on-site coin-operated laundry along with basement storage for tenants. Major systems have been updated in recent years, including a metal roof installed about one year ago, brand-new electrical panels throughout the building in 2026, furnaces that are approximately 10 years old, and water heaters reportedly ranging from about 1 to 4 years old. A Certificate of Occupancy was issued on 7/16/2025.
The property is located at 23 N Main St in Brockport, positioned just steps from the Erie Canal. Public remarks also note proximity to local shops and restaurants, with the area described as somewhat bikeable and car-dependent based on provided BikeScore and WalkScore figures.
For investors and owner-occupants, this building offers an income-producing residential setup with practical resident amenities already in place, including coin laundry and tenant storage. The current configuration provides straightforward four-unit ownership, and the public remarks mention a potential opportunity to convert to a 5-unit building for the next owner, subject to applicable approvals and requirements.
The property is located at 23 N Main St in Brockport, positioned just steps from the Erie Canal. Public remarks also note proximity to local shops and restaurants, with the area described as somewhat bikeable and car-dependent based on provided BikeScore and WalkScore figures.
For investors and owner-occupants, this building offers an income-producing residential setup with practical resident amenities already in place, including coin laundry and tenant storage. The current configuration provides straightforward four-unit ownership, and the public remarks mention a potential opportunity to convert to a 5-unit building for the next owner, subject to applicable approvals and requirements.
Key Highlights
- 4‑unit multifamily with over 4,500 SF of living space
- On‑site coin‑operated laundry plus basement storage for tenants
- Metal roof installed 1 year ago
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
$37,890
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
8.42%
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%
$757,800
$757.8K
Cap Rate 7%
$541,286
$541.3K
Cap Rate 9%
$421,000
$421.0K
Market Conditions
NOI Build-Up for 4,500 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
$72.9K $16.20/SF
− Vacancy
−$4.0K −$0.89/SF
EGI
$68.9K $15.31/SF
− OpEx
−$31.0K −$6.89/SF
NOI
$37.9K $8.42/SF
Area
Monroe County, NY
Vacancy
5.50%
Lease Rate
$16.20 /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%
$757,800
Cap Rate 7%
$541,286
Cap Rate 9%
$421,000
Alternative Uses
Best Use
Multifamily LT 5
$599.3K
$524.4K – $699.2K
NOI $41,949 @ 7.0% cap · market cap 9.32%
Second Best
Apartment 5plus
$541.3K
$473.6K – $631.5K
NOI $37,890 @ 7.0% cap · market cap 8.42%
Theoretical Best
Specialty Retail
$863.9K
$755.9K – $1.01M
NOI $60,471 @ 7.0% cap · market cap 13.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
799
Businesses Nearby
Explore this area
Business Placement
Demographics for 14420, NY
19,567
Population
8,245
Households
2.4
Avg Household Size
34
Median Age
35%
College-Educated
94%
High-School Grad
59.0 sq mi
ZIP Area
332
Density / Sq Mi
$69,716
Median Household Income
$35,211
Median Earnings
$951
Median Rent
$178,600
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 - Four-unit residential income property with coin-operated laundry and recent major mechanical and electrical updates.
Where is this quadplex located?
The property is located at 23 N Main Street Brockport, NY.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 4‑unit multifamily with over 4,500 SF of living space; On‑site coin‑operated laundry plus basement storage for tenants; Metal roof installed 1 year ago
