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    Property profile & analytics

    21 State St Pittsford, NY 14534-2027

    • Office buildings
    • 1,752 SF
    • 0.10 lot acres
    OFF-MARKET
    Value Estimations
    $230,000
    Show details
    Cap Rate Potential
    6%
    Office buildings
    Location Intelligence
    Property ID
    US63-0477794
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Office buildings

    Property Details for 21 State St

    Year built
    1820
    Lot size
    0.10 lot acres
    Property size
    1,752 SF
    Property type
    Office buildings
    APN
    264601 164.06-2-11
    APU
    26460116406211

    Description

    This exceptional 1,800 square foot, two-story building presents a unique opportunity in the heart of Pittsford Village. Originally constructed in 1820 and extensively renovated in 2004, this single-tenant property offers a blend of historic character and modern functionality. The building is situated directly across from the Pittsford Library and Starbucks, ensuring high visibility and foot traffic. Conveniently located on Route 31, the property also benefits from adjacent parking, a significant advantage in this desirable village setting. The entire 1,800 square feet is currently vacant, providing flexibility for a variety of uses. Ideal for a professional office seeking a prestigious address or a boutique retailer looking for a charming and highly visible location. The building's classic architecture and modern updates create a sophisticated and inviting atmosphere. The property's prime location, ample parking, and versatile space make it an exceptional investment opportunity. This is a rare chance to acquire a meticulously maintained, historically significant building in a thriving village community. The property's single-tenant occupancy simplifies management and provides a clear path to immediate income generation. Don't miss this chance to own a piece of Pittsford Village history.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $235,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $167,000
      Market price range: $77.7k - $241k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Pittsford
    County
    Monroe
    State
    New York
    Longitude
    -77.5137
    Latitude
    43.09
    CBSA code
    40380
    CBSA name
    ROCHESTER, NY METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    0
    $0.00
    $90,000
    $95,000
    $185,000
    -
    $124,978
    $131,922
    $256,900

    Comparable in this City

    • Value Estimation
      $270,000
      10,158 SF

      271 Marsh Rd

      PROFESSIONAL BUILDING • 10,158 SF
      271 Marsh Rd, Pittsford, NY 14534-1655
      View Details
    • Value Estimation
      $470,000
      24,244 SF

      1173 Pittsford Victor Rd

      OFFICE BUILDING • 24,244 SF
      1173 Pittsford Victor Rd, Pittsford, NY 14534-3841
      View Details
    • Value Estimation
      $545,000
      30,400 SF

      1160 Pittsford Victor Rd

      OFFICE BUILDING • 30,400 SF
      1160 Pittsford Victor Rd, Pittsford, NY 14534-3825
      View Details
    • Value Estimation
      $875,000
      48,301 SF

      179 Sullys Trl

      OFFICE BUILDING • 48,301 SF
      179 Sullys Trl, Pittsford, NY 14534-4500
      View Details
    • Value Estimation
      $520,000
      101,804 SF

      99 Garnsey Rd

      OFFICE BUILDING • 101,804 SF
      99 Garnsey Rd, Pittsford, NY 14534-4565
      View Details
    • Value Estimation
      $250,000
      1,554 SF

      65 Monroe Ave Ste C

      PROFESSIONAL BUILDING • 1,554 SF
      65 Monroe Ave Ste C, Pittsford, NY 14534-1318
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      38,560 SF

      High-Tech Mixed-Use Commercial Building

      Multi-tenant building with medical and tech tenants, 93% occupied.
      1120 Pittsford Victor Rd, Pittsford, NY 14534
      View Details
    • New
      $329,900
      Pending

      Pittsford Village Green Office Condominium

      Office condominium suitable for diverse professional and service-oriented uses.
      61A Monroe Ave, Pittsford, NY 14534
      View Details
    • $750,000
      2,250 SF

      Pittsford Office Building For Sale

      Historic Village, 2,250 SF Office
      8 Main St, Pittsford, NY 14534
      View Details
    • $1,450,000
      19,312 SF

      Pittsford Commercial Building For Sale

      Spacious 19,312 sq ft commercial space.
      1170 Pittsford Victor Rd, Pittsford, NY 14534
      View Details
    • Contact for pricing

      Vacant Land Near Pinnacle Church

      Approximately 4 acres of vacant land in Henrietta, New York.
      250 Pinnacle Rd, Pittsford, NY 14534
      View Details
    • $89,900
      0.27 Acres

      Residential Land in Pittsford, NY

      Land ideal for small house design in Pittsford, NY.
      1344 Marsh Rd, Pittsford, NY 14534
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      156,904 SF

      Class A Office Space Available

      60,000 SF office space for rent in Pittsford, NY.
      99 Garnsey Rd, Pittsford, NY 14534
      View Details
    • $18 SF/Yr
      6,947 SF

      Pittsford Office Park: Prime Location

      Modern office suites, flexible sizes, ideal Pittsford setting.
      115-151 Trl, Pittsford, NY 14534
      View Details
    • Contact for pricing
      15,786 SF

      Pittsford Office Park Investment

      Three Suites, 1,300-3,360 SF
      101 Trl, Pittsford, NY 14534
      View Details
    • $15 SF/Yr
      800 SF

      Office Space in Pittsford, NY

      Office space available for lease in Pittsford, New York.
      50 State St, Pittsford, NY 14534
      View Details
    • Contact for pricing
      1,792 SF

      Office Space Near I-490

      Office space with convenient highway access and ample parking.
      1250 Pittsford Victor Rd, Pittsford, NY 14534
      View Details
    • $13 SF/Yr
      1,222 SF

      Pittsford Village Office Suite

      Versatile office space in Pittsford Village Green Office Park.
      59 Monroe Ave, Pittsford, NY 14534
      View Details
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    21 State St
    Pittsford, NY 14534-2027
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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