Renovated Mixed-Use Downtown
For Sale
Contact for pricing
49 Stone St, Rochester, NY 14604
Fully renovated mixed-use property with residential and commercial spaces.
Property Size30,246 SF
Price / SF$130.60
Days on Market163
Property Features for 49 Stone St
General Information
Standard status
Active
Size
30,246 SF
Class
A
Property subtype
Multifamily
Zoning
GCD-URD/CCD
Occupancy
90%
Investment Type
Owner/User
Net Operating Income
$146,359
Building Details
Year Built
1900
Year Renovated
2020
Buildings
1
Stories
4
Units
22
Listing Agency:
Empire Real Estate Firm
(585) 737-4055
Listed By:
Sage Baltrusaitis · License #10401340935
Source:
Crexi
Added: Mar 12
Changed: Aug 9
Last Checked: Aug 21 at 5:07PM
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 Empire Real Estate Firm
Investment Insights
Based on property information with market context.
This is a fully renovated, stabilized four-story mixed-use asset located in Downtown Rochester, New York. The property features 21 residential apartment units and 4,946 square feet of ground-floor commercial space. The building was completely renovated in 2020, modernizing both infrastructure and interior living spaces, including new mechanical systems, upgraded electrical and plumbing components, enhanced life-safety systems, and modernized common areas. The residential portion consists of thoughtfully designed one-bedroom and two-bedroom layouts with open-concept layouts, energy-efficient systems, loft-style ceilings, contemporary kitchens, and in-unit laundry. Units incorporate an industrial-inspired aesthetic featuring exposed HVAC ductwork, contract ceilings, and loft-style architectural elements. Tenant amenities include an open-air rooftop deck with a dedicated dog park, pet-friendly accommodations, and convenient adjacent parking access. The commercial space is suited for retail, boutique fitness, restaurant/café, professional office, or service-oriented uses, and features strong street visibility, dedicated storefront access, consistent residential foot traffic, and high vehicular exposure. The property benefits from immediate access to employment hubs, entertainment venues, retail corridors, and public transportation infrastructure.
Key Highlights
- Fully Renovated in 2020: Enjoy comprehensive modernization with new mechanical systems and interior finishes.
- Diversified Income Stream: Benefit from a combination of 21 residential units and 4,946 SF of commercial space.
- Strong Amenity Package: Includes an open‑air rooftop deck, dedicated dog park, and secure building access.
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
$310,275
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
7.86%
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%
$6,205,500
$6.2M
Cap Rate 7%
$4,432,500
$4.4M
Cap Rate 9%
$3,447,500
$3.4M
Market Conditions
NOI Build-Up for 30,246 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
$598.9K $19.80/SF
− Vacancy
−$34.7K −$1.15/SF
EGI
$564.1K $18.65/SF
− OpEx
−$253.9K −$8.39/SF
NOI
$310.3K $10.26/SF
Area
Rochester, NY
Vacancy
5.80%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
45.00%
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%
$6,205,500
Cap Rate 7%
$4,432,500
Cap Rate 9%
$3,447,500
Alternative Uses
Best Use
Mixed Use
$5.25M
$4.59M – $6.12M
NOI $367,489 @ 7.0% cap · market cap 9.30%
Second Best
Apartment 5plus
$4.43M
$3.88M – $5.17M
NOI $310,275 @ 7.0% cap · market cap 7.86%
Theoretical Best
Office A
$8.29M
$7.25M – $9.67M
NOI $579,997 @ 7.0% cap · market cap 14.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,853
Businesses Nearby
Explore this area
Business Placement
Demographics for 14604, NY
3,138
Population
2,367
Households
1.3
Avg Household Size
39
Median Age
62%
College-Educated
94%
High-School Grad
0.3 sq mi
ZIP Area
10,460
Density / Sq Mi
$63,672
Median Household Income
$62,935
Median Earnings
$1,253
Median Rent
$705,100
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 - Fully renovated mixed-use property with residential and commercial spaces.
Where is this mixed-use property located?
The property is located at 49 Stone St Rochester, NY.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: Fully Renovated in 2020: Enjoy comprehensive modernization with new mechanical systems and interior finishes.; Diversified Income Stream: Benefit from a combination of 21 residential units and 4,946 SF of commercial space.; Strong Amenity Package: Includes an open‑air rooftop deck, dedicated dog park, and secure building access.
