Corner Retail with
578 PORTLAND AVE Rochester, NY 14621
For Sale
$223,000
Pending
Corner property with one storefront and three rented apartments, including recent remodels and new hot water tanks.
Property Size1,036 SF
Days on Market123
Property Features for 578 PORTLAND AVE
General Information
- Standard status
- Pending
- Size
- 1,036 SF
- Property subtype
- Office
Building Details
- Year Built
- 1920
Listing Agency:
Blain Realty, Inc.
(585) 244-8980
Listed By:
Robert Blain
(585) 244-8980
Source:
Xome
Added: Mar 24
Changed: Jul 23
Last Checked: Jul 23 at 5:35PM
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 Blain Realty, Inc.
Investment Insights
Based on property information with market context.
This property offers a mixed configuration with one storefront and three apartments. The apartments include a mix of 1-bedroom and 2-bedroom layouts, and the units have been remodeled and updated within the last few years. Two new hot water tanks have been installed, and a new certificate of occupancy was issued in 2025.
The property sits on a corner location. All units are currently rented, with a rent roll available upon request.
As a rental or owner-user setup, the building provides both retail-facing space and residential income through its three apartment units.
The property sits on a corner location. All units are currently rented, with a rent roll available upon request.
As a rental or owner-user setup, the building provides both retail-facing space and residential income through its three apartment units.
Key Highlights
- Corner property with 1 storefront and 3 apartments; all units currently rented
- Apartment mix: two 1‑bedroom units and one 1–2 bedroom unit
- Apartments remodeled and updated within the last few years
Financial Insights For Office B
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 | $24.9k | $24.00 |
| − Vacancy | −$5.0k | −$4.82 |
| EGI | $19.9k | $19.18 |
| − OpEx | −$5.0k | −$4.79 |
| NOI | $14.9k | $14.38 |
1,036 SF · lease $24.00/SF/yr · vacancy 20.10% · expense 25.00%
Alternative Uses
Best Use
Office B
$212.9K
$186.3K – $248.3K
NOI $14,900 @ 7.0% cap · market cap 6.68%
Second Best
Multifamily LT 5
$170.3K
$149.0K – $198.7K
NOI $11,923 @ 7.0% cap · market cap 5.35%
Theoretical Best
Office A
$283.8K
$248.3K – $331.1K
NOI $19,866 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Corner property with one storefront and three rented apartments, including recent remodels and new hot water tanks.
Where is this triplex located?
The property is located at 578 PORTLAND AVE Rochester, NY.
What is the asking price?
The asking price for this property is $223,000.
What are key features of this property?
This property features: Corner property with 1 storefront and 3 apartments; all units currently rented; Apartment mix: two 1‑bedroom units and one 1–2 bedroom unit; Apartments remodeled and updated within the last few years
