1506 Empire BlvdWebster, NY 14580

Property Details for 1506 Empire Blvd

Year built

1957

Lot size

2.90 AC

Property size (Sq ft)

2,860 SF

Zone code

LB

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

264200 108.07-1-2.1

APU

26420010807121

Description

This exceptional 2.9-acre property at 1506 Empire Blvd in Webster, NY, presents a remarkable redevelopment opportunity. Boasting over 450 feet of frontage on a high-traffic corridor with an Average Annual Daily Traffic (AADT) exceeding 27,000 vehicles, this site offers unparalleled visibility and accessibility. Located just 15 minutes from Downtown Rochester, the property includes a 4,564 square foot multi-family residence currently generating $1,250 monthly rental income. The residence features a new roof and updated bathroom. Adding to the property's versatility are a spacious barn and a block building, formerly a cider mill, offering unique character and potential for adaptive reuse. An existing open market-style structure along the frontage provides flexibility for immediate business use or incorporation into future development plans. Preliminary plans for a 22-unit multi-family residential building are available, showcasing the significant development potential. This section of Empire Boulevard is experiencing a surge in new development, solidifying its position as a thriving commercial and residential area. The high traffic count and prominent location make this a prime investment opportunity for both residential and commercial projects. The asking price is $649,900.

• CAP approach

  CAP return

  Valuation

  6%

  $461,842

  6.5%

  $426,316

  7%

  $395,865

• Comparable approach

  Method

  Valuation

  Relative Method

  $261,284

  Geo Method

  $334,949

• Alternative Use

  Use

  Valuation

  Residential

  $528,632

  Hospitality

  $484,224

  Educational

  $402,868

  Medical

  $416,724

  Retail

  $626,684

Location Insight

City

Webster

County

Monroe

State

New York

Latitude

43.1778

Longitude

-77.5096

CBSA code

40380

CBSA name

ROCHESTER, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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