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Empire Blvd Estates 1550 Empire Blvd 101 Unit Apartment Building For Sale Webster, NY 14580
INVESTMENT HIGHLIGHTS
- Complete Renovation in 2025
- Highly Attractive Submarket
- Expansion Parcel with 140 Build-to-Rent Units Planned
EXECUTIVE SUMMARY
CBRE Upstate NY has been retained as the exclusive broker for the sale of Empire Boulevard Estates, a 101-unit multifamily property in suburban Rochester, New York. The property is located in the Town of Penfield, an affluent bedroom community offering convenient access to numerous local amenities and employment centers. The community is also one of the fastest growing and most attractive locations for new apartments in the metro area. Empire Boulevard Estates is undergoing a complete renovation from its former use as a nursing home with occupancy scheduled to begin in early Q4 2025.
In addition to the units described above, a 7.4 acre expansion parcel is also included in the offering. This parcel is currently master planned to include 140 “Build-to-Rent“ townhouse and patio home units.
In addition to the units described above, a 7.4 acre expansion parcel is also included in the offering. This parcel is currently master planned to include 140 “Build-to-Rent“ townhouse and patio home units.
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Sale Type | Investment | Building Class | B |
| No. Units | 101 | Lot Size | 16.70 AC |
| Property Type | Multifamily | Building Size | 145,000 SF |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Low-Rise | Year Built | 2025 |
| Zoning | MR - MR - Multiple Residence, Town of Penfield | ||
| Sale Type | Investment |
| No. Units | 101 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 16.70 AC |
| Building Size | 145,000 SF |
| No. Stories | 4 |
| Year Built | 2025 |
| Zoning | MR - MR - Multiple Residence, Town of Penfield |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
- Washer/Dryer
- Heating
- Refrigerator
- Oven
- Range
- Tub/Shower
- Wi-Fi
- Freezer
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Elevator
- Public Transportation
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 29 | - | 680 - 878 |
| 1+1.5 | 6 | - | 858 - 883 |
| 1+2 | 13 | - | - |
| 2+1 | 9 | - | 964 |
| 2+2 | 42 | - | 1,038 |
| 3+1 | 2 | - | 1,206 - 1,268 |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,924,950 (2024) | |
| Land Assessment | $1,257,200 (2024) | Total Assessment | $3,182,150 (2024) |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,257,200 (2024)
Improvements Assessment
$1,924,950 (2024)
Total Assessment
$3,182,150 (2024)
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Empire Blvd Estates | 1550 Empire Blvd
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