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    628 9Th St Niagara Falls, NY 14301

    Sponsored
    For Sale
    $1,430,000

    MULTI_FAMILY - Niagara Falls, NY

    Property size:
    31,464 SF
    Lot size:
    0.50 Acres
    Days on Market:
    37
    Last Refresh:
    Jan 20 at 8:06 pm

    Property Features for 628 9Th St

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Active
    Rooms
    Bedroom 36, Bedroom 24, Bedroom 21, Bedroom 22, Bedroom 40, Bedroom 6, Basement, Bedroom 39, Bedroom 1, Bedroom 12, Bedroom 31, Bedroom 30, Bedroom 9, Bedroom 38, Bedroom 14, Bedroom 3, Bedroom 10, Bedroom 15, Bedroom 29, Bedroom 42, Bedroom 2, Bedroom 19, Bedroom 26, Bedroom 18, Bedroom 37, Bedroom 4, Bedroom 5, Bedroom 7, Bedroom 17, Bedroom 25, Bedroom 16, Bedroom 33, Bedroom 32, Bedroom 23, Bedroom 8, Bedroom 34, Bedroom 13, Bedroom 35, Bedroom 20, Bedroom 11, Bedroom 27, Bedroom 41, Bedroom 28
    Bedrooms
    42
    APN
    291100-159-022-0003-052-000
    Parking features
    Driveway, Garage
    Appliances
    GasWaterHeater
    Size
    31,464 SF
    Lot size
    0.50 Acres

    Utilities

    Water source
    Public

    Building Details

    Year built
    1958
    Floors in Building
    4
    Number of units
    42
    Flooring type
    Vinyl, Varies, Tile
    Building materials
    Block, Concrete
    Roof type
    Rubber, Flat, Membrane

    We can help!

    Listing Contact
    Pushpa Gunatilake

    Pioneer Star Real Estate Inc. (716) 907-3046 [email protected]

    Listing agent Pushpa Gunatilake (716) 689-7250 License #10311200587

    Listing date Dec 15, 2025

    MLS# B1635438 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

    42-Unit Redevelopment Opportunity, Niagara Falls

    Located in downtown Niagara Falls, New York, this is an investor opportunity to acquire a 42-unit multifamily asset. The property is situated directly across from a major hospital and one block from the courthouse, and it's minutes from Niagara Falls State Park. This partially completed redevelopment project is suited for a new investor. Preliminary work has been completed, including an environmental study, interior demolition and cleanup, rough plumbing, and a third-party appraisal. The property offers flexibility for long-term rentals, short-term furnished units, or mixed-use potential. The location is in a high-demand rental corridor with a tenant base from the nearby hospital, courthouse, and tourism industry. The property has potential for cash flow and equity growth. The property size is 31464 square feet on a lot of approximately 0.5 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Realty agency Law Firm Spa & Massage Restaurant Hair Salon Dental Office Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Niagara Falls
    County
    Niagara
    State
    New York
    Longitude
    -79.052167
    Latitude
    43.094014

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    FAQs

    What type of property is this?
    Apartment building - 42-unit multifamily redevelopment in downtown Niagara Falls, prime location.
    Where is this apartment building located?
    The property is located at 628 9Th St Niagara Falls, NY.
    What is the asking price?
    The asking price for this property is $1,430,000.
    What are key features of this property?
    This property features: - 42-unit multifamily redevelopment opportunity in prime downtown Niagara Falls location.; - Unparalleled proximity to major hospital, courthouse, and Niagara Falls State Park.; - All preliminary work professionally completed: environmental study, interior demolition & cleanup, rough plumbing, and third-party appraisal.
    (716) 907-3046
    Request Owner's contact information
    628 9Th St Niagara Falls, NY 14301
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    Niagara Falls, NY 14301
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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
    628 9Th St Niagara Falls, NY 14301
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    We can help!
    Listing Contact
    Pushpa Gunatilake
    Real Estate License ID: 10311200587
    (716) 907-3046
    Learn more
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