Property profile

89 East Ave Rochester, NY 14604

OFF-MARKET
Office Spaces
Property ID
US63-3422397
144,568 SF 1.1 ac lot Built 1926
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Property summary

AI-generated overview

This stunning, 12-story, neo-classical office building, located at 89 East Ave in Rochester, NY, presents a unique investment opportunity. Built in 1926 and extensively renovated between 2016 and 2018, this 144,568 square foot property boasts a prime downtown location on a 1.1-acre lot. The building's recent upgrades include significant improvements to HVAC, mechanical systems, lighting, and cosmetic features, all while preserving its historic character and limestone façade. Currently vacant, this historically designated building offers flexible mixed-use potential, accommodating office, retail, multi-family residential, and even hotel uses. Its location within an Opportunity Zone provides significant tax advantages for potential buyers. The property's size and versatility make it an ideal candidate for a variety of development scenarios, including expansion or redevelopment. The building's substantial square footage and central location offer unparalleled potential for a discerning investor seeking a landmark property in a thriving urban environment. The 1.1-acre lot offers ample space for additional parking or separate development projects, subject to zoning regulations. This is a rare chance to acquire a significant piece of Rochester's history and revitalize a prominent downtown asset.

Property profile

Verified
Property type Office Spaces
Year built 1926
Total area 144,568 SF
Lot 1.1 ac (47,916 SF)
UPID US63-3422397

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Take-out & Catering
  • Corporate Office

Location

89 East Ave Rochester, NY 14604
Rochester metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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