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    The Largest CRE Database in the US with Over 1 Million Listings

    6778 Main St Cherry Creek, NY 14723

    Sponsored
    For Sale
    Pending
    $149,000

    MULTI_FAMILY - Other - Cherry Creek, NY

    Property size:
    4,800 SF
    Lot size:
    0.27 Acres
    Days on Market:
    11
    Last Refresh:
    Jan 25 at 2:06 am

    Property Features for 6778 Main St

    General Information

    Special listing conditions
    Standard
    Property type
    Residential Multi Family
    Property subtype
    Other
    TransactionType
    Standard
    Standard status
    Pending
    Rooms
    Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 2
    Bedrooms
    3
    Bathrooms
    2
    APN
    063000-237-012-0001-046-000
    Interior features
    CeilingFans, NaturalWoodwork
    Fireplace
    1
    Appliances
    GasWaterHeater, PropaneWaterHeater
    Size
    4,800 SF
    Lot size
    0.27 Acres

    Utilities

    Heating system
    Forced Air, Oil, Propane (Heating)
    Water source
    Public

    Building Details

    Year built
    1900
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Carpet, Hardwood, Varies
    Building materials
    VinylSiding
    Roof type
    Metal
    Architectural style
    Other

    We can help!

    Listing Contact
    Mark Bostaph

    WNY METRO ROBERTS REALTY (716) 891-1710

    Listing agent Mark Bostaph (716) 662-0449 License #10401217219

    Listing date Jan 15, 2026

    MLS# B1641588 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

    Mixed-Use Property with Rental Income

    This mixed-use property in Cherry Creek, NY, offers both residential and commercial opportunities. The lower unit is currently vacant, presenting an opportunity for a new business venture. The upper apartment is occupied by a long-term tenant who wishes to remain. Additional space in the rear upper and lower levels, along with a large garage, could be converted into another rental unit or additional commercial space. A side lot provides ample parking. The attached garage can accommodate more than four cars. Heating is provided by a high-efficiency forced air furnace and a wood stove in the upper unit. The property has a total size of 4800 square feet and is situated on a 0.27-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Cherry Creek public ... Library

    Suggested Use

    Restaurant Auto Repair Shop Auto Parts Store Department Store HVAC Service Bar & Pub Furniture Store Pet Supply Store Italian Restaurant

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

    Location Insight

    • Map
    • Local Demand
    City
    Cherry Creek
    County
    Chautauqua
    State
    New York
    Longitude
    -79.099366
    Latitude
    42.294057

    Nearby Similar for Sale

    • $3,500,000
      10,000 SF

      Cherry Creek Commercial Opportunity

      Unique commercial property with multiple development possibilities in Cherry Creek, NY.
      1493 Thornton Rd, Cherry Creek, NY 14723
      View Details
    • $70,000

      Commercially Zoned Building in Cherry Creek

      Versatile building on Cherry Creek's main corridor with parking.
      6837 Main St, Cherry Creek, NY 14723
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use property in Cherry Creek, NY with rental and business potential.
    Where is this mixed-use property located?
    The property is located at 6778 Main St Cherry Creek, NY.
    What is the asking price?
    The asking price for this property is $149,000.
    What are key features of this property?
    This property features: - Vacant lower unit ideal for starting a business.; - Potential to convert rear upper, rear lower, and garage into additional rental units or commercial space.; - Large attached garage with space for 4+ cars.
    (716) 238-2863
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    6778 Main St Cherry Creek, NY 14723
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    Cherry Creek, NY 14723
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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
    6778 Main St Cherry Creek, NY 14723
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    We can help!
    Listing Contact
    Mark Bostaph
    Real Estate License ID: 10401217219
    (716) 238-2863
    Learn more
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