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    174 Mariner St Buffalo, NY 14201

    Sponsored
    For Sale
    $579,000

    MULTI_FAMILY - Other - Buffalo, NY

    Property size:
    3,392 SF
    Days on Market:
    3
    Last Refresh:
    Mar 4 at 2:06 pm

    Property Features for 174 Mariner St

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 2, Bathroom 3, Basement, Bedroom 3, Bedroom 5, Bedroom 4, Bedroom 1, Bedroom 6
    Bedrooms
    6
    Bathrooms
    3
    APN
    140200-100-690-0003-024-000
    Parking features
    Driveway
    Interior features
    NaturalWoodwork
    Fireplace
    1
    Appliances
    GasWaterHeater
    Size
    3,392 SF

    Utilities

    Heating system
    Natural Gas, Hot Water(Heating), Forced Air
    Cooling system
    Attic Fan
    Water source
    Public

    Building Details

    Year built
    1880
    Floors in Building
    2
    Number of units
    3
    Flooring type
    Carpet, Hardwood, Varies, Tile
    Building materials
    WoodSiding, CopperPlumbing
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Charles Bo Gurney
    Charles Bo Gurney

    Gurney, Becker & Bourne (716) 849-1234

    Listing agent Charles Bo Gurney (716) 849-1234 License #10401243887

    Listing date Mar 2, 2026

    MLS# B1664043 Listing URL

    Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Allentown Triplex with Architectural Details

    Located in Allentown, this historically significant triplex features architectural details and has undergone extensive updates. The property, once home to Katherine Cornell, "The First Lady of American Theater," has been remodeled inside and out. Exterior renovations include a complete repaint, replacement of boards and scalloped shingles, partial roof replacement (half replaced last year, other half 6 years old), and repointing of chimneys and stone foundations. Interior upgrades feature updated electrical systems with circuit breakers, copper plumbing, a new furnace, and two hot water tanks from 2020, along with newer replacement vinyl windows throughout the three-story residence. The first-floor two-bedroom unit includes hardwood floors with mahogany inlays, 10-foot ceilings, an original fireplace with an electric starter, a formal dining room, an updated kitchen with stainless steel appliances, a newer bathroom, and a back pantry with separate laundry hook-ups. The second-floor two-bedroom unit offers living spaces with neighborhood views, a gas fireplace, oversized windows, original moldings, two bedrooms (one with a bay window and rounded-window closet), an eat-in kitchen with a pantry, and a bathroom. The third-floor two-bedroom unit has updated bath and kitchen, replaced fixtures, forced air heating, and storage space. The property also includes a partially fenced backyard suitable for gardening or patio space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Buffalo
    County
    Erie
    State
    New York
    Longitude
    -78.878385
    Latitude
    42.901631

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    FAQs

    What type of property is this?
    Triplex - Updated Allentown triplex with significant historical and architectural features.
    Where is this triplex located?
    The property is located at 174 Mariner St Buffalo, NY.
    What is the asking price?
    The asking price for this property is $579,000.
    What are key features of this property?
    This property features: - Historically significant property: Former home of Katherine Cornell, "The First Lady of American Theater."; - Extensive recent exterior restoration including full repaint, replaced boards/shingles, chimney repointing, and roof work.; - Updated systems: electrical, copper plumbing, new furnace, and newer vinyl windows.
    (716) 930-7741
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    174 Mariner St Buffalo, NY 14201
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    174 Mariner St Buffalo, NY 14201
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    We can help!
    Listing Contact
    Charles Bo Gurney
    Charles Bo Gurney
    Real Estate License ID: 10401243887
    (716) 930-7741 (716) 849-1234
    Learn more
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