Landmark Flex Campus for Resi Conversion 1405-1447 Saint Paul St 72 549 m² Inoccupé Bureau Vente aux enchères en ligne Rochester, NY 14621

Discover a one-of-a-kind investment opportunity offering the chance to acquire the historic Hawkeye at Lower Falls facility located at 1405-1447 Saint Paul Street in Rochester, New York. Formerly a mission-critical plant for Kodak from the 1950s through 2011, this rare offering provides the incredible opportunity to reinvent a treasured fixture of Rochester’s commercial landscape.

Hawkeye at Lower Falls spans a total of 780,915 square feet across eight floors in multiple buildings. The complex was originally built in phases between 1917 and 1943 on an expansive 6.61-acre lot with flexible M-1 zoning. The building’s impressive design is noted as one of the finest examples of factory Art Deco architecture in the world. The property features large floor plates with abundant office, industrial, lab, and research and development space, supporting operational flexibility. It is equipped with an on-site 11kV substation, a full wet sprinkler system, as well as passenger and freight elevators. The facility’s large windows offer sweeping views of the Genesee River’s Lower Falls, creating an inspiring and energizing environment that serves to attract both commercial and residential tenants.

Placed on the signalized corner intersection of St. Paul and Avenue E, Hawkeye at Lower Falls enjoys an ideal location just north of Downtown Rochester. More than 30,000 vehicles see the property from these bustling thoroughfares each day, providing great exposure for a new tenant or residential community. Proximity to downtown, just 1.7 miles away, delivers fantastic access to quality shopping, dining, and recreation amenities, further enhancing the desirability of the location. It also ensures swift regional accessibility, with central placement between Highway 104 and Interstate 490.

Hawkeye at Lower Falls will be delivered in worn/distressed condition, presenting an upside for residential conversion. This allows a new owner to capitalize on the immense demand for new multifamily inventory in the market, with vacancies currently sitting at just 3.4%. Tight availability in the area facilitates stable rent growth, with rents up 4.2% over the past 12 months. No new competing inventory is currently under construction, ensuring limited supply-side competition for residential projects at the site. By leveraging the building’s well-known, historic identity, this storied property can immediately become a noteworthy tentpole of the area’s rental market.

Embrace Monroe County’s past and help shape its future with this incredible opportunity to revitalize Rochester’s historic Hawkeye at Lower Falls facility.

Property tours are by appointment only. Please contact the listing broker to schedule.