200 White Spruce BlvdRochester, NY 14623

Property Details for 200 White Spruce Blvd

Year built

1975

Lot size

1.60 AC

Property size (Sq ft)

17,830 SF

Zone code

05 - COMMERCIAL

Property type

Office properties

Property subtype

Office buildings

APN

262000 149.09-1-7

APU

2620001490917

Description

Southview Commons, located at 200 White Spruce Blvd, Rochester, NY 14623, presents a compelling investment opportunity. This Class B, multi-tenant office building totaling 27,105 square feet offers a blend of medical and traditional office spaces. Currently boasting 88% occupancy, the property generates a substantial net operating income (NOI) of $420,031 in 2023, translating to an attractive 8.57% capitalization rate. The asking price is $4,900,000, resulting in a price per square foot of $180.78. Situated in a prime suburban location within Monroe County, this property benefits from excellent expressway access and proximity to numerous amenities, including office parks, hotels, residential areas, retail centers, Monroe Community College, and the University of Rochester Medical Center. Recent renovations have enhanced the property's appeal, encompassing the lobby, common areas, roof, exterior, and parking facilities. The building's strong performance and strategic location make it an ideal investment for those seeking a stabilized, high-yield asset in a thriving market. Detailed financial information is available upon execution of a confidentiality agreement.

• CAP approach

  CAP return

  Valuation

  6%

  $2,879,246

  6.5%

  $2,657,766

  7%

  $2,467,926

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,628,916

  Geo Method

  $1,121,685

• Alternative Use

  Use

  Valuation

  Residential

  $3,295,630

  Hospitality

  $3,018,779

  Educational

  $2,511,589

  Medical

  $2,597,966

  Retail

  $3,906,916

Location Insight

City

Rochester

County

Monroe

State

New York

Latitude

43.1044

Longitude

-77.6192

CBSA code

40380

CBSA name

ROCHESTER, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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