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511-527 State St 24 Unit Apartment Building $2,250,183 CAD ($93,758 CAD/Unit) 10.01% Cap Rate Rochester, NY 14608
Investment Highlights
- Attractive Brick Architecture
- Walkable to Restaurants and Entertainment
- Elevator and electronic entry system
- Renovated Apartments & Office Suites
- Sprinklered Building
Executive Summary
Located just minutes from Downtown Rochester, 511-527 State Street offers investors the opportunity to acquire a renovated mixed-use asset with a diverse income stream and strong occupancy. Situated on a .64-acre parcel with access from both State Street and Frankfort Street, the property consists of two buildings totaling 24 units, including office suites, warehouse space, and residential apartments.
Originally constructed in 1910 and extensively renovated in 2015, the property features updated office and residential spaces, elevator service, electronic entry systems, and a fully sprinklered environment. Currently occupied by 14 commercial tenants and 8 residential tenants, with two commercial vacancies available for lease-up, the property provides both stable cash flow and upside potential.
Its strategic location near Downtown Rochester, Frontier Field, High Falls, Monroe Community College, restaurants, entertainment venues, and public transportation makes it an attractive destination for both businesses and residents.
Originally constructed in 1910 and extensively renovated in 2015, the property features updated office and residential spaces, elevator service, electronic entry systems, and a fully sprinklered environment. Currently occupied by 14 commercial tenants and 8 residential tenants, with two commercial vacancies available for lease-up, the property provides both stable cash flow and upside potential.
Its strategic location near Downtown Rochester, Frontier Field, High Falls, Monroe Community College, restaurants, entertainment venues, and public transportation makes it an attractive destination for both businesses and residents.
Data Room Click Here to Access
Financial Summary (Actual - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Refrigerator
- Oven
- Range
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Gas Range
- Walk-Up
1 1
Moderately walkable
70/100
Exceptionally drivable
90/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 261400 106.61-1-40.003 | Total Assessment | $1,274,490 CAD (2025) |
| Land Assessment | $162,852 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $1,111,639 CAD (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
261400 106.61-1-40.003
Land Assessment
$162,852 CAD (2025)
Improvements Assessment
$1,111,639 CAD (2025)
Total Assessment
$1,274,490 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
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511-527 State St
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