Corporate Place 255 East Ave 181,192 SF 92% Leased Office Building Rochester, NY 14604 $9,900,000 ($54.64/SF)
INVESTMENT HIGHLIGHTS
- Sought after location in walkable “micro-district“ on the edge of Downtown
- Well leased facility with Weighted Average Lease Term of 6.2+ Years
- Secure core income stream from 176,000sf office building + Significant upside potential from the on site 581 space parking garage
- Over $5.75 million in capital improvements recently completed on property minimizing future expenditures
EXECUTIVE SUMMARY
Offering Overview
Situated in a walkable neighborhood on the edge of Downtown Rochester, Farash Place provides a unique investment opportunity for a well leased office property in a district that has seen a massive amount of recent mixed-use growth. The property also possesses a huge amount of upside potential from the on-site parking garage, which is not currently being used as a source of additional revenue. Additional information about the sale may be found on the property website at www.255EastAve.com
Situated in a walkable neighborhood on the edge of Downtown Rochester, Farash Place provides a unique investment opportunity for a well leased office property in a district that has seen a massive amount of recent mixed-use growth. The property also possesses a huge amount of upside potential from the on-site parking garage, which is not currently being used as a source of additional revenue. Additional information about the sale may be found on the property website at www.255EastAve.com
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
181,192 SF
Building Class
A
Year Built/Renovated
1986/2024
Price
$9,900,000
Price Per SF
$54.64
Percent Leased
92%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
45,298 SF
Building FAR
3.04
Lot Size
1.37 AC
Opportunity Zone
Yes
Zoning
CCD-E - Center City East End District
Parking
650 Spaces (3.59 Spaces per 1,000 SF Leased)
AMENITIES
- Controlled Access
- Conferencing Facility
- Fitness Center
- Food Service
- Security System
- Signage
- Wheelchair Accessible
- Reception
- Monument Signage
- Air Conditioning
- Smoke Detector
1 of 1
Walk Score®
Very Walkable (88)
Bike Score®
Very Bikeable (84)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $5,890,000 | |
| Land Assessment | $560,000 | Total Assessment | $6,450,000 |
