Renovated Two-Unit
New
For Sale
$499,900
36-38 Brook Street, Canandaigua, NY 14424
Two separately configured residences provide private entrances, utilities, laundry, basements, porches, and dedicated parking.
Property Size3,184 SF
Days on Market5
Property Features for 36-38 Brook Street
General Information
Standard status
Active
Size
3,184 SF
Property subtype
Multi Family
Units
Multifamily Units
2
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$7,498
Amenities
private entrance
basement
central A/C
hardwood floors
laundry rooms
tiled bathrooms
decking
porches
Building Details
Building Size
3,184 SF
Year Built
1880
Year Renovated
2014
Listing Agency:
Howard Hanna
Listed By:
Richard J. Testa · License #10301208036
(585) 739-3521
Source:
Griffith-realty
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 14 at 9:54AM
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.
This duplex contains two distinct residences with only one shared wall, giving each side a townhome-style layout. Both units have private entrances, separate utilities, first-floor laundry, basements, porches, and two parking spaces. Extensive renovations completed in 2014 included new insulation, plumbing, electrical systems, drywall, furnaces with central A/C, hardwood flooring, kitchens, tiled bathrooms, windows, composite siding, decking, porches, and driveway work.
The 36 Brook Street residence includes a large kitchen with center-island breakfast bar, dining and living rooms, a first-floor powder room, and an upper level with three to four bedrooms and a full bathroom. The 38 Brook Street unit offers a kitchen with island breakfast bar, formal living and dining rooms, first-floor laundry and powder room, plus three bedrooms and a full bathroom upstairs. The property is one block from Main Street and minutes from Canandaigua Lake.
The 36 Brook Street residence includes a large kitchen with center-island breakfast bar, dining and living rooms, a first-floor powder room, and an upper level with three to four bedrooms and a full bathroom. The 38 Brook Street unit offers a kitchen with island breakfast bar, formal living and dining rooms, first-floor laundry and powder room, plus three bedrooms and a full bathroom upstairs. The property is one block from Main Street and minutes from Canandaigua Lake.
Key Highlights
- Two‑unit duplex at 36‑38 Brook Street in Canandaigua City
- Extensive renovations completed in 2014
- Separate entrances, utilities, laundry, basements, porches, and two parking spaces per 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
$40,776
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
8.16%
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%
$815,520
$815.5K
Cap Rate 7%
$582,514
$582.5K
Cap Rate 9%
$453,067
$453.1K
Market Conditions
NOI Build-Up for 3,184 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
$63.0K $19.80/SF
− Vacancy
−$4.8K −$1.50/SF
EGI
$58.3K $18.30/SF
− OpEx
−$17.5K −$5.49/SF
NOI
$40.8K $12.81/SF
Area
Ontario County, NY
Vacancy
7.60%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$815,520
Cap Rate 7%
$582,514
Cap Rate 9%
$453,067
Alternative Uses
Best Use
Multifamily LT 5
$582.5K
$509.7K – $679.6K
NOI $40,776 @ 7.0% cap · market cap 8.16%
Second Best
Apartment 5plus
$519.2K
$454.3K – $605.8K
NOI $36,347 @ 7.0% cap · market cap 7.27%
Theoretical Best
Office A
$953.0K
$833.9K – $1.11M
NOI $66,711 @ 7.0% cap · market cap 13.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
806
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately configured residences provide private entrances, utilities, laundry, basements, porches, and dedicated parking.
Where is this duplex located?
The property is located at 36-38 Brook Street Canandaigua, NY.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two‑unit duplex at 36‑38 Brook Street in Canandaigua City; Extensive renovations completed in 2014; Separate entrances, utilities, laundry, basements, porches, and two parking spaces per unit
