Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Albion Medical/Office Complex For Sale Title is generated by Realmo AI

    243 S Main Street, Albion, NY 14411

    View on Map
    Claim this Listing
    For Sale
    $750,000

    SINGLE_FAMILY - Albion, NY

    Type:Office
    Property size:
    61,969 SF
    Lot size:
    4.12 Acres
    Price / SF:
    $12/SF
    Added:
    Nov 24, 2025
    Days on Market:
    175
    Last Refresh:
    May 18 at 7:06 am

    Property Features for 243 S Main Street

    General Information

    Property type
    Residential
    Property subtype
    Office
    Zoning
    07 - 465
    Parking
    220
    Standard status
    Active
    APN
    342001-073-010-0002-052-011
    Size
    61,969 SF
    Lot size
    4.12 Acres

    Taxes and HOA fees

    Tax Annual Amount
    21350

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Natural Gas
    Water source
    Public

    Building Details

    Year built
    1958
    Floors in Building
    2

    We can help!

    Listing Contact
    Evan Schaefer
    Evan Schaefer

    Listing agent Evan Schaefer License #10301220657

    Listing office NORCHAR, LLC 389 Park Ave, Rochester, NY

    Listing date Nov 24, 2025

    MLS# R1652418

    Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 60,000 SF of medical/office space on two floors.
    • Opportunity to convert to residential use.
    • Versatile 'PC' zoning allows for flexible use.
    • Ample on‑site parking.
    • Currently 64% occupied as a multi‑tenant office building.
    • Abundant natural light along both sides of a central corridor.

    Overview

    The Arnold Gregory Complex, originally built in 1957 as a hospital, is available for purchase in Albion, NY. The property offers approximately 60,000 square feet of medical and office space across two floors. Ample on-site parking is available. Currently operating as a multi-tenant office building, the property is approximately 64% occupied with several smaller, short-term office and medical tenants. The property's zoning is 07 - 465. The building's layout features abundant natural light along both sides of a central corridor. The property sits on a 4.12-acre lot. A new owner can continue operating the property as a stable investment or explore the opportunity to convert it to residential use. The versatile zoning and flexible in-place leases make this an exceptional candidate for adaptive-reuse into residential units.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Rainbow Preschool High School Verneice Smiley-Delahanty, PA-C Physician Arc of Orleans County Law Firm SCS Industries Freight Service Depaul Social Service Agency

    Suggested Use

    Real Estate Agency Building Supply Spa & Massage Center Hair Salon Nail Salon Auto Parts Store HVAC Service Bar & Pub Tattoo & Piercing Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Albion
    County
    Orleans
    State
    New York
    Longitude
    -78.191947
    Latitude
    43.238268

    Nearby Similar for Sale

    • $105,000
      5,548 SF

      Albion Commercial Building with Character

      Two-story commercial building in Albion, NY with flexible office space.
      109 N Main Street, Albion, NY 14411
      View Details
    • $1,000,000
      245,455 SF

      Albion Industrial Facility for Sale

      245,455 SF industrial facility in Orleans County, New York.
      111 West Avenue, Albion, NY, 14411
      View Details
    • $650,000

      Grocery Store in Albion Plaza

      24,785 SF grocery store with large parking lot.
      Address Not Disclosed, Albion, NY
      View Details
    • $125,000
      5,548 SF

      Two-Story Office Building in Albion

      Two-story office building with flexible layout and downtown views.
      109 N Main St, Albion, NY 14411
      View Details
    • $259,999
      3,600 SF

      Versatile Building on 2.5 Acres

      3,600 SF building suitable for any business with ample parking.
      14462 Ridge Rd W, Albion, NY
      View Details
    • $299,900
      2,216 SF

      Free-Standing Building on Route 31

      2,216 SF building on 0.75 acres, ideal for retail.
      13896 State Rte 31, Albion, NY
      View Details
    • $750,000
      58,531 SF

      Albion Medical/Office Complex For Sale

      60,000 SF medical/office space with redevelopment potential in Albion, NY.
      243 S Main St, Albion, NY 14411
      View Details
    • $2,000,000
      74,252 SF

      Albion Shopping Center Retail Spaces

      Retail spaces for sale or lease in busy Albion plaza.
      316 West Ave, Albion, NY 14411
      View Details

    FAQs

    What type of property is this?
    Office building - Multi-tenant office building with adaptive reuse potential in Albion, NY.
    Where is this office building located?
    The property is located at 243 S Main Street Albion, NY.
    What is the asking price?
    The asking price for this property is $750,000.
    What are key features of this property?
    This property features: 60,000 SF of medical/office space on two floors.; Opportunity to convert to residential use.; Versatile 'PC' zoning allows for flexible use.
    (585) 337-1764
    We can help!
    Listing Contact
    Evan Schaefer
    Evan Schaefer
    Real Estate License ID: 10301220657
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    243 S Main Street, Albion, NY 14411
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!