Contiguous Mixed-Use Property
For Sale
$899,900
28 Main Street, Geneseo, NY 14454
Three contiguous properties combine commercial storefronts, furnished apartments, and leased commercial space.
Property Size6,595 SF
Days on Market31
Property Features for 28 Main Street
General Information
Standard status
Active
Size
6,595 SF
Total Parking Spaces
20
Property subtype
Commercial
Zoning
5, Commercial
Units
Unit Mix
1 x 1BR, 1 x 2BR, 1 x 3BR, 1 x 4BR
Multifamily Units
4
Additional Details
Furnished
Yes
Taxes and HOA fees
Annual Taxes
$17,338
Building Details
Building Size
6,595 SF
Year Built
1958
Buildings
2
Stories
2
Units
7
Tenancy
Multi
Listing Agency:
AB Cole Real Estate, Inc.
(585) 243-2643
Listed By:
Patricia A. Cole · License #10311208149
(585) 243-2643
Source:
Wcirealty
Added: Jul 24
Changed: Aug 23
Last Checked: Aug 23 at 4:55AM
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 AB Cole Real Estate, Inc.
Investment Insights
Based on property information with market context.
This three-property mixed-use package includes 28 Main Street, 6 University Avenue, and 10 University Avenue. The properties are contiguous and combine residential and commercial components across the offering.
28 Main Street features two commercial storefronts and four fully furnished apartments operated as college rentals. The residential mix includes one 1-bedroom, one 2-bedroom, one 3-bedroom, and one 4-bedroom apartment, with furniture and appliances included. One storefront is occupied by a beauty salon, while the rear commercial space is leased to Monroe Title. The building has been well maintained with some updates and is in good overall condition.
10 University Avenue is a commercial building constructed in 2000 and currently leased. 6 University Avenue includes a vacant building being sold AS IS. The package includes a 0.82-acre lot at 10 University Avenue and a 43' x 136' lot at 6 University Avenue.
28 Main Street features two commercial storefronts and four fully furnished apartments operated as college rentals. The residential mix includes one 1-bedroom, one 2-bedroom, one 3-bedroom, and one 4-bedroom apartment, with furniture and appliances included. One storefront is occupied by a beauty salon, while the rear commercial space is leased to Monroe Title. The building has been well maintained with some updates and is in good overall condition.
10 University Avenue is a commercial building constructed in 2000 and currently leased. 6 University Avenue includes a vacant building being sold AS IS. The package includes a 0.82-acre lot at 10 University Avenue and a 43' x 136' lot at 6 University Avenue.
Key Highlights
- Three contiguous properties: 28 Main Street, 6 University Avenue, and 10 University Avenue
- 28 Main Street includes two commercial storefronts and four fully furnished apartments
- Apartment mix includes one 1‑bedroom, one 2‑bedroom, one 3‑bedroom, and one 4‑bedroom unit
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
$80,129
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
8.90%
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%
$1,602,580
$1.6M
Cap Rate 7%
$1,144,700
$1.1M
Cap Rate 9%
$890,322
$890.3K
Market Conditions
NOI Build-Up for 6,595 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
$142.5K $21.60/SF
− Vacancy
−$14.2K −$2.16/SF
EGI
$128.2K $19.44/SF
− OpEx
−$48.1K −$7.29/SF
NOI
$80.1K $12.15/SF
Area
Livingston County, NY
Vacancy
10.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,602,580
Cap Rate 7%
$1,144,700
Cap Rate 9%
$890,322
Alternative Uses
Best Use
Retail
$1.28M
$1.12M – $1.49M
NOI $89,446 @ 7.0% cap · market cap 9.94%
Second Best
Mixed Use
$1.14M
$1.00M – $1.34M
NOI $80,129 @ 7.0% cap · market cap 8.90%
Theoretical Best
Office A
$1.81M
$1.58M – $2.11M
NOI $126,466 @ 7.0% cap · market cap 14.05%
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
528
Businesses Nearby
Explore this area
Business Placement
Demographics for 14454, NY
10,759
Population
3,937
Households
2.7
Avg Household Size
28
Median Age
50%
College-Educated
95%
High-School Grad
47.6 sq mi
ZIP Area
226
Density / Sq Mi
$66,629
Median Household Income
$12,055
Median Earnings
$1,000
Median Rent
$217,900
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?
Mixed-use property - Three contiguous properties combine commercial storefronts, furnished apartments, and leased commercial space.
Where is this mixed-use property located?
The property is located at 28 Main Street Geneseo, NY.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Three contiguous properties: 28 Main Street, 6 University Avenue, and 10 University Avenue; 28 Main Street includes two commercial storefronts and four fully furnished apartments; Apartment mix includes one 1‑bedroom, one 2‑bedroom, one 3‑bedroom, and one 4‑bedroom unit
