Corner Lot Mixed-Use
For Sale
$649,000
5476 Broadway Street, Lancaster, NY 14086
COMMERCIAL - Lancaster, NY
Property Size9,856 SF
Lot Size0.22 Acres
Price / SF$65.85
Days on Market144
Property Features for 5476 Broadway Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Multi-Use2
Zoning description
Commercial
Rooms
Basement
Parking
10
Parking features
Paved or Surfaced
Lot features
Rectangular, Rectangular Lot
Elementary school district
Lancaster
Middle school district
Lancaster
High school district
Lancaster
Subdivision
Lancaster-Village-145203
Standard status
Active
APN
145203-104-830-0002-017-000
Size
9,856 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Annual Amount
12783
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Hot Water(Heating), Baseboard, Natural Gas
Water source
Public
Amenities
central air conditioning
newer electrical service
Building Details
Year built
1920
Floors in Building
3
Number of units
9
Flooring type
Carpet, Vinyl, Linoleum
Building materials
Stone
Roof type
Asphalt
Listing Agency:
Gurney Becker & Bourne
(716) 849-1234
Listed By:
Gary Greco Jr · License #10401251303
(716) 208-5340
Added: Mar 11
Changed: Aug 1
Last Checked: Aug 1 at 10:06AM
MLS# B1666229
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.
Corner lot mixed-use property on a 0.22-acre site featuring two buildings with a mix of retail and residential units. The front building includes two retail storefronts, each about 1,000 SF, operating as a custom cabinet and countertop showroom and a restaurant. The second floor has 4 apartments: two 2-bedroom units and two 1-bedroom units, with a third floor that has potential to be converted back into 2 additional rental units. The rear building includes 3 apartments: one 1-bedroom unit and two 2-bedroom units. Parking is paved or surfaced, with off-street and garage parking that accommodates about 10 cars.
A rear adjacent lot addressed as 9 School St adds an extra 7,000 SF of lot size that can be converted into additional parking. All utilities across both buildings are separate, and all tenants are on month-to-month leases. Construction materials include stone with an asphalt roof. Heating options include forced air, hot water (heating), baseboard, and natural gas.
The front building has newer electrical service and brand new central air units for the storefronts.
A rear adjacent lot addressed as 9 School St adds an extra 7,000 SF of lot size that can be converted into additional parking. All utilities across both buildings are separate, and all tenants are on month-to-month leases. Construction materials include stone with an asphalt roof. Heating options include forced air, hot water (heating), baseboard, and natural gas.
The front building has newer electrical service and brand new central air units for the storefronts.
Key Highlights
- 0.22‑acre corner lot with two buildings mixing retail storefronts and apartments
- Front building: two retail storefronts, each about 1,000 SF, plus 4 apartments (two 2‑bedroom, two 1‑bedroom)
- Third floor has potential to be converted back into 2 additional rental units
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $159.7k | $16.20 |
| − Vacancy | −$56.2k | −$5.70 |
| EGI | $103.5k | $10.50 |
| − OpEx | −$46.6k | −$4.72 |
| NOI | $56.9k | $5.77 |
9,856 SF · lease $16.20/SF/yr · vacancy 35.20% · expense 45.00%
Alternative Uses
Best Use
Specialty Retail
$1.70M
$1.48M – $1.98M
NOI $118,686 @ 7.0% cap · market cap 18.29%
Second Best
Mixed Use
$1.32M
$1.16M – $1.54M
NOI $92,585 @ 7.0% cap · market cap 14.27%
Theoretical Best
Office A
$2.15M
$1.89M – $2.51M
NOI $150,820 @ 7.0% cap · market cap 23.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
425
Businesses Nearby
Explore this area
Business Placement
Demographics for 14086, NY
35,010
Population
15,486
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
95%
High-School Grad
33.3 sq mi
ZIP Area
1,051
Density / Sq Mi
$95,949
Median Household Income
$53,164
Median Earnings
$983
Median Rent
$263,600
Median Home Value
Market
Average Price Trend$/SF for Mixed-use properties in Erie County, NY
Properties on Market for Mixed-use properties in Erie County
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Corner lot mixed-use building with retail storefronts and apartments, separate utilities, and month-to-month tenant leases.
Where is this mixed-use property located?
The property is located at 5476 Broadway Street Lancaster, NY.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 0.22‑acre corner lot with two buildings mixing retail storefronts and apartments; Front building: two retail storefronts, each about 1,000 SF, plus 4 apartments (two 2‑bedroom, two 1‑bedroom); Third floor has potential to be converted back into 2 additional rental units
