24-Unit Remodeled Apartment
For Sale
$2,599,900
3230 Moran Road, Canandaigua, NY 14424
Updated apartments feature renovated kitchens, bathrooms, appliances, decks, and flooring across the property.
Property Size8,608 SF
Days on Market63
Property Features for 3230 Moran Road
General Information
Standard status
Active
Size
8,608 SF
Property subtype
Commercial
Units
Unit Mix
16 x 2BR, 8 x 1BR
Multifamily Units
24
Taxes and HOA fees
Annual Taxes
$29,178
Building Details
Building Size
8,608 SF
Year Built
1986
Listing Agency:
Howard Hanna
Listed By:
Igor Valoshka · License #40VA1084613
(585) 509-3435
Source:
Griffith-realty
Added: Aug 11
Changed: Oct 8
Last Checked: Oct 11 at 11:13AM
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 Howard Hanna
Investment Insights
Based on property information with market context.
Built in 1986, this 24-unit apartment property has undergone comprehensive renovations over the past 2 years. The unit mix includes 16 two-bedroom apartments and 8 one-bedroom apartments, with improvements encompassing kitchens, appliances, bathrooms, decks, and flooring. A paved parking lot completed one year ago and a newer roof add to the property’s physical improvements.
The property is located approximately 1/2 mile from Canandaigua Lake and has a bike score of 60, indicating a bikeable setting. The site also includes a section planned for 8 additional one-bedroom units, supported by approved architectural designs; construction would require obtaining the applicable permit. Long-term tenants are in place, and the major repairs identified in the property information have been completed.
The property is located approximately 1/2 mile from Canandaigua Lake and has a bike score of 60, indicating a bikeable setting. The site also includes a section planned for 8 additional one-bedroom units, supported by approved architectural designs; construction would require obtaining the applicable permit. Long-term tenants are in place, and the major repairs identified in the property information have been completed.
Key Highlights
- 24‑unit apartment property with 16 two‑bedroom and 8 one‑bedroom apartments
- Renovations completed across all units during the past 2 years
- Unit updates include kitchens, appliances, bathrooms, decks, and flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$98,263
Cap Rate
3.78%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,965,260
$2.0M
Cap Rate 7%
$1,403,757
$1.4M
Cap Rate 9%
$1,091,811
$1.1M
Market Conditions
NOI Build-Up for 8,608 SF
Gross rent
$194.2K $22.56/SF
− Vacancy
−$15.5K −$1.80/SF
EGI
$178.7K $20.76/SF
− OpEx
−$80.4K −$9.34/SF
NOI
$98.3K $11.42/SF
Area
Ontario County, NY
Vacancy
8.00%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,965,260
Cap Rate 7%
$1,403,757
Cap Rate 9%
$1,091,811
Alternative Uses
Best Use
Apartment 5plus
$1.40M
$1.23M – $1.64M
NOI $98,263 @ 7.0% cap · market cap 3.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.58M
$2.25M – $3.01M
NOI $180,355 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
24
Residential units
Location Intelligence
Trade Area within ½ mile
291
Businesses Nearby
Explore this area
Business Placement
Demographics for 14424, NY
28,353
Population
14,482
Households
2
Avg Household Size
48
Median Age
41%
College-Educated
94%
High-School Grad
129.5 sq mi
ZIP Area
219
Density / Sq Mi
$79,135
Median Household Income
$45,885
Median Earnings
$1,228
Median Rent
$250,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Updated apartments feature renovated kitchens, bathrooms, appliances, decks, and flooring across the property.
Where is this apartment building located?
The property is located at 3230 Moran Road Canandaigua, NY.
What is the asking price?
The asking price for this property is $2,599,900.
What are key features of this property?
This property features: 24‑unit apartment property with 16 two‑bedroom and 8 one‑bedroom apartments; Renovations completed across all units during the past 2 years; Unit updates include kitchens, appliances, bathrooms, decks, and flooring
