Masonry Office
For Sale
$284,900
2121 Sawyer Drive, Niagara Falls, NY 14304
CommercialSale, Niagara Falls, NY
Property Size1,538 SF
Lot Size0.04 Acres
Price / SF$185.24
Days on Market146
Property Features for 2121 Sawyer Drive
General Information
Property type
Commercial Sale
Property subtype
Office
Zoning
offices
Zoning description
Business
Parking
40
Parking features
Paved or Surfaced
Subdivision
Woodstream Prof Office Co
Lot features
Rectangular, Rectangular Lot
Elementary school district
Niagara Wheatfield
Middle school district
Niagara Wheatfield
High school district
Niagara Wheatfield
Directions
Williams Rd to Sawyer Dr.
Standard status
Active
APN
294000-161-002-0010-010-000
Size
1,538 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
4907
Utilities
Heating system
Natural Gas, Forced Air, Central
Cooling system
Separate Meters, Central Air
Water source
Public
Amenities
handicap accessible
open reception area
conference room
open kitchen area
signage
Building Details
Year built
1998
Floors in Building
1
Number of units
1
Flooring type
Carpet, Vinyl, Linoleum
Building materials
Brick, Block, Masonry
Roof type
Asphalt
Listing Agency:
Hooper Realty
Listed By:
Michael J Hooper · License #37HO0444450
(716) 285-0477
Added: Apr 21
Changed: Sep 11
Last Checked: Sep 13 at 6:06AM
MLS# B1675337
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.
Investment Insights
Based on property information with market context.
This 1,538-square-foot office property in Niagara Falls offers a practical professional-services layout within a masonry building constructed in 1998. The interior includes an open reception area, five individual offices, a conference room, an open kitchen, and front and rear entry areas. Handicap accessibility supports a broad range of office operations, while central air conditioning and forced-air natural gas heat serve the building.
Located at 2121 Sawyer Drive, the property provides paved parking at both the front and rear. A front-facing sign is positioned for visibility from the road. The building also features a new asphalt roof, public water, and a combination of linoleum, carpet, and vinyl flooring. Office furnishings and equipment are negotiable.
Located at 2121 Sawyer Drive, the property provides paved parking at both the front and rear. A front-facing sign is positioned for visibility from the road. The building also features a new asphalt roof, public water, and a combination of linoleum, carpet, and vinyl flooring. Office furnishings and equipment are negotiable.
Key Highlights
- 1,538 SF office property on a 0.04‑acre lot
- Five individual offices plus reception and conference areas
- Masonry construction with 1998 year built
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,751
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.63%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$435,020
$435.0K
Cap Rate 7%
$310,729
$310.7K
Cap Rate 9%
$241,678
$241.7K
Market Conditions
NOI Build-Up for 1,538 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$33.2K $21.60/SF
− Vacancy
−$4.2K −$2.74/SF
EGI
$29.0K $18.86/SF
− OpEx
−$7.3K −$4.71/SF
NOI
$21.8K $14.14/SF
Area
Niagara County, NY
Vacancy
12.70%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$435,020
Cap Rate 7%
$310,729
Cap Rate 9%
$241,678
Alternative Uses
Best Use
Office B
$310.7K
$271.9K – $362.5K
NOI $21,751 @ 7.0% cap · market cap 7.63%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.31M
$1.14M – $1.52M
NOI $91,478 @ 7.0% cap · market cap 32.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
415
Businesses Nearby
Explore this area
Business Placement
Demographics for 14304, NY
28,923
Population
13,705
Households
2.1
Avg Household Size
45
Median Age
25%
College-Educated
92%
High-School Grad
21.5 sq mi
ZIP Area
1,345
Density / Sq Mi
$64,756
Median Household Income
$42,613
Median Earnings
$901
Median Rent
$151,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Accessible layout with reception, private offices, and conference space.
Where is this office building located?
The property is located at 2121 Sawyer Drive Niagara Falls, NY.
What is the asking price?
The asking price for this property is $284,900.
What are key features of this property?
This property features: 1,538 SF office property on a 0.04‑acre lot; Five individual offices plus reception and conference areas; Masonry construction with 1998 year built
