490 State St, Rochester, NY
Established restaurant location available for sale in Rochester, NY.
- Added:
- Oct 28, 2024
- Days on Market:
- 608
- Last Refresh:
- May 20 at 9:57 pm
Property Features for 490 State St
General Information
- Standard status
- Active
- Size
- 2,000 SF
- Lot size
- 0.17 Acres
- Property subtype
- RETAIL
Listing office EXP Commercial (585) 802-3327
Listing date Oct 28, 2024
Source Moodyscre
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 EXP Commercial
HighLights
- High‑traffic corner lot with traffic light access, capturing over 16,000 vehicles daily.
- Turnkey restaurant operation with all existing infrastructure and equipment included.
- Established site with a 40+ year history as Spiro’s Restaurant, a local favorite.
- Zoning supports a wide range of uses within fully enclosed buildings.
- Highly visible location in Rochester’s thriving community.
- Opportunity to acquire a cornerstone property in Rochester.
Overview
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.2k | $21.60 |
| − Vacancy | −$4.4k | −$2.22 |
| EGI | $38.8k | $19.38 |
| − OpEx | −$9.7k | −$4.84 |
| NOI | $29.1k | $14.53 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- Busy Bee — 124 W Main St, Rochester, NY 14614
- Ethiopian Eng’s Egg Factory — 263 central ave, rochester, ny 14605
Location Insight
- Map
- Local Demand
- City
- Rochester
- County
- Monroe
- State
- New York
- Longitude
- -77.6218
- Latitude
- 43.1637