Mixed-Use Property
For Sale
$899,900
28 Main Street, Geneseo, NY 14454
CommercialSale, Geneseo, NY
Property Size6,595 SF
Lot Size0.11 Acres
Price / SF$136.45
Days on Market50
Property Features for 28 Main Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
5
Zoning description
Commercial
Rooms
Basement
Parking
20
Parking features
Paved or Surfaced
Lot features
Rectangular, Rectangular Lot
Elementary school district
Geneseo
Middle school district
Geneseo
High school district
Geneseo
Directions
Main Street Geneseo Village, corner of Main and University
Subdivision
Geneseo-Village-242601
Standard status
Active
APN
242601-080-012-0003-035-000-0000
Size
6,595 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
17338
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Natural Gas, Electric (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1958
Floors in Building
2
Number of units
7
Flooring type
Linoleum, Carpet, Varies, Vinyl, Hardwood
Roof type
Metal, Asphalt
Listing Agency:
AB Cole Real Estate, Inc.
Listed By:
Patricia A. Cole · License #10311208149
(585) 243-2643
Added: Jul 24
Changed: Sep 7
Last Checked: Sep 11 at 3:06AM
MLS# R1701528
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.
Investment Insights
Based on property information with market context.
This offering combines three contiguous properties in Geneseo with both commercial and residential components. The Main Street building contains two storefronts and four furnished apartments used as college rentals, with a one-bedroom, two-bedroom, three-bedroom, and four-bedroom layout. Furniture and appliances remain in the residential units. One storefront is occupied by a beauty salon, while the rear commercial suite is leased to Monroe Title.
The newer University Avenue commercial building was completed in 2000 and is leased. The second University Avenue property is vacant and conveys as-is, providing an additional building for renovation, redevelopment, or expansion. The package includes 6,595 square feet of property size, paved parking, public water and sewer, central air, and a mix of electric, baseboard, and natural gas heating. The Main Street building dates to 1958 and includes a basement.
The newer University Avenue commercial building was completed in 2000 and is leased. The second University Avenue property is vacant and conveys as-is, providing an additional building for renovation, redevelopment, or expansion. The package includes 6,595 square feet of property size, paved parking, public water and sewer, central air, and a mix of electric, baseboard, and natural gas heating. The Main Street building dates to 1958 and includes a basement.
Key Highlights
- Three contiguous properties offered together in Geneseo, NY
- 28 Main Street includes two commercial storefronts and four furnished apartments
- Residential mix includes 1-, 2-, 3-, and 4‑bedroom apartments
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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Package combines occupied commercial space, furnished apartments, and an additional vacant building.
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 offered together in Geneseo, NY; 28 Main Street includes two commercial storefronts and four furnished apartments; Residential mix includes 1-, 2-, 3-, and 4‑bedroom apartments
