Corner Multifamily
108 Buffalo Street, Hamburg, NY 14075
For Sale
$599,000
Five-unit apartment building on a corner lot, with on-site parking and utilities included in rent.
Property Size5,020 SF
Price / SF$119.32
Days on Market146
Property Features for 108 Buffalo Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Multifamily Units
Building Details
Building Size
Listing Agency:
Buffalo Office
Listed By:
David P. Seider
(716) 852-7500
Source:
Pyramidbrokerage
Added: Jun 22
Changed: Nov 3
Last Checked: Nov 14 at 2:06AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Buffalo Office
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Investment Insights
Based on property information with market context.
This corner multifamily property includes five total apartment units: three one-bedroom units and one two-bedroom apartment. The building is set up for residential income use, and the current rent structure includes gas, electric, and water utilities for residents.
The property is located in the Village of Hamburg on a corner site at Buffalo St and Pleasant Ave. A surface parking lot on site provides 10 parking spaces, supporting everyday tenant parking needs.
With a compact mix of one- and two-bedroom layouts, this property can fit investors or operators seeking a smaller residential income asset. The inclusion of utilities in rent and the availability of on-site parking are practical features that may help streamline resident cost considerations and day-to-day access.
The property is located in the Village of Hamburg on a corner site at Buffalo St and Pleasant Ave. A surface parking lot on site provides 10 parking spaces, supporting everyday tenant parking needs.
With a compact mix of one- and two-bedroom layouts, this property can fit investors or operators seeking a smaller residential income asset. The inclusion of utilities in rent and the availability of on-site parking are practical features that may help streamline resident cost considerations and day-to-day access.
Key Highlights
- 5‑unit apartment building on a corner lot at Buffalo St and Pleasant Ave in the Village of Hamburg
- Unit mix includes three 1‑bedroom and one 2‑bedroom apartment
- Rents include gas, electric, and water utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,984
Cap Rate
4.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$579,680
$579.7K
Cap Rate 7%
$414,057
$414.1K
Cap Rate 9%
$322,044
$322.0K
Market Conditions
NOI Build-Up for 5,020 SF
Gross rent
$81.3K $16.20/SF
− Vacancy
−$28.6K −$5.70/SF
EGI
$52.7K $10.50/SF
− OpEx
−$23.7K −$4.72/SF
NOI
$29.0K $5.77/SF
Area
Erie County, NY
Vacancy
35.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$579,680
Cap Rate 7%
$414,057
Cap Rate 9%
$322,044
Alternative Uses
Best Use
Apartment 5plus
$414.1K
$362.3K – $483.1K
NOI $28,984 @ 7.0% cap · market cap 4.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$960.2K – $1.28M
NOI $76,818 @ 7.0% cap · market cap 12.82%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
978
Businesses Nearby
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Business Placement
Demographics for 14075, NY
44,053
Population
20,164
Households
2.2
Avg Household Size
46
Median Age
38%
College-Educated
96%
High-School Grad
39.4 sq mi
ZIP Area
1,118
Density / Sq Mi
$82,083
Median Household Income
$50,934
Median Earnings
$1,129
Median Rent
$246,100
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Erie County, NY
Properties on Market for Apartment buildings in Erie County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit apartment building on a corner lot, with on-site parking and utilities included in rent.
Where is this apartment building located?
The property is located at 108 Buffalo Street Hamburg, NY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 5‑unit apartment building on a corner lot at Buffalo St and Pleasant Ave in the Village of Hamburg; Unit mix includes three 1‑bedroom and one 2‑bedroom apartment; Rents include gas, electric, and water utilities
