1005 Portland Ave Rochester, NY 14621
- Retail properties
- 4,969 SF
- 0.16 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1005 Portland Ave
- Year built
- 1920
- Lot size
- 0.16 lot acres
- Property size
- 4,969 SF
- Property type
- Retail properties
- Property subtype
- Mixed-use properties
Description
This exceptional mixed-use property, located at 1005 Portland Avenue in Rochester, NY, presents a compelling investment opportunity. The building, constructed in 1920, boasts a total of 4,969 square feet across two stories and sits on a 0.16-acre lot. The property features a prime corner location with high traffic counts, making it ideal for both residential and commercial ventures. The building comprises one storefront and three apartments: two one-bedroom units and one two-bedroom unit. Currently, the property enjoys an 80% occupancy rate with two tenants. The asking price is $189,900, translating to a price per square foot of $38.22 and a compelling 19.40% capitalization rate. The Net Operating Income (NOI) stands at $36,840. Recent improvements include the installation of two new hot water tanks this year. The property is zoned for commercial use and has a Monroe County APN of 261400-091-750-0002-062-000-0000. This is a rare chance to acquire a well-situated, income-generating mixed-use property in a thriving Rochester neighborhood. The building's solid construction and strong rental history make it an attractive investment for both owner-users and passive investors seeking a high return. All units are currently rented.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Rochester
- County
- Monroe
- State
- New York
- Longitude
- -77.5847
- Latitude
- 43.1841
