Suburban Neighborhood Center

485 Spencerport Rd Rochester, NY 14606

485 Spencerport Rd , Rochester, NY, 14606
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FOR SALE
Property Type:
Neighborhood Center
Amount:
$1,500,000
Last Verified:
Jul 16, 2024

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Highlights

  • Prime Location
  • Diverse Tenant Mix
  • Thriving Market
  • Ample Parking
  • Stabilized
  • Value Add
  • Expansion Potential

Description

Discover Colonial Plaza, a 42,161 SF Neighborhood Center strategically located near interstates I-490 & I-390 and Rochester International Airport. This premier investment opportunity, with its 100% occupancy and exceptional potential for long-term success, stands out as a unique and valuable asset.

Colonial Plaza is centrally situated in a bustling area with easy access to major highways and the Rochester International Airport, ensuring high visibility and convenience for tenants and customers alike. The center hosts a variety of well-established tenants, including restaurants, bars, fitness centers, beauty salons, and retail stores, providing a stable and reliable income stream. With over 184,000 residents within a 5-mile radius and a steadily growing population, Colonial Plaza benefits from a vibrant and expanding community.

The strategic location offers excellent exposure and significant foot traffic, with an Average Annual Daily Traffic (AADT) of 16,343, contributing to the success of the businesses within the plaza. The property features parking for 150 cars, accommodating the needs of tenants and customers. Moreover, the availability of land for future expansion presents exciting opportunities for growth and increased profitability, making Colonial Plaza a promising long-term investment.

This stabilized investment opportunity presents a rare chance to acquire a profitable asset in the heart of Gates, NY. Don’t miss out on Colonial Plaza's potential—it's your gateway to a lucrative investment!

Just West of Long Pond Rd on the South side of Spencerport Rd.


Year Built: 1960
Building Size: 42161sq ft
Lot Size: 7.6 acres


Documents

Colonial Plaza Flyer
GB General Business District.pdf
D&E Site Plan 6.924.jpg

Map of 485 Spencerport Rd , Rochester, NY, 14606

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.