Live-Work Property with
For Sale
$324,900
11881 Broadway St, Alden, NY 14004
The property combines residential living space with a dedicated commercial area configured for office use.
Property Size2,444 SF
Price / SF$132.94
Days on Market77
Property Features for 11881 Broadway St
General Information
Standard status
Active
Size
2,444 SF
Property subtype
Multi-Family
Additional Details
Road Access
Yes
Building Details
Year Built
1998
Building Size
2,444 SF
Listing Agency:
Keller Williams Realty WNY
Listed By:
Dalton Reynolds · License #10401342408
(716) 352-8679
Source:
Skinnercnyrealty
Added: Jul 31
Changed: Oct 14
Last Checked: Oct 7 at 3:04PM
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 Keller Williams Realty WNY
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Investment Insights
Based on property information with market context.
Built in 1998, this live-work property combines 1,868 square feet of residential space with 576 square feet designated for commercial use. The business area includes a lobby and two private rooms and is currently arranged as a chiropractic office, while the residential component provides a separate living layout within the same property.
The property fronts Broadway at 11881 Broadway St in Alden, New York. Its approximately three-year-old roof is a notable recent improvement. The combined 2,444 square feet offers a single-site arrangement for residential occupancy and an on-site business operation, with the commercial section already configured for professional office use.
The property fronts Broadway at 11881 Broadway St in Alden, New York. Its approximately three-year-old roof is a notable recent improvement. The combined 2,444 square feet offers a single-site arrangement for residential occupancy and an on-site business operation, with the commercial section already configured for professional office use.
Key Highlights
- 1,868 SF of residential living space
- 576 SF commercial area with lobby and two private rooms
- Commercial portion currently configured as a chiropractic office
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,545
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$470,900
$470.9K
Cap Rate 7%
$336,357
$336.4K
Cap Rate 9%
$261,611
$261.6K
Market Conditions
NOI Build-Up for 2,444 SF
Gross rent
$44.0K $18.00/SF
− Vacancy
−$4.8K −$1.94/SF
EGI
$39.2K $16.06/SF
− OpEx
−$15.7K −$6.42/SF
NOI
$23.5K $9.63/SF
Area
Erie County, NY
Vacancy
10.80%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$470,900
Cap Rate 7%
$336,357
Cap Rate 9%
$261,611
Alternative Uses
Best Use
Office B
$437.5K
$382.8K – $510.4K
NOI $30,625 @ 7.0% cap · market cap 9.43%
Second Best
Healthcare Medical
$336.4K
$294.3K – $392.4K
NOI $23,545 @ 7.0% cap · market cap 7.25%
Theoretical Best
Office A
$534.3K
$467.5K – $623.3K
NOI $37,399 @ 7.0% cap · market cap 11.51%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
47
Businesses Nearby
Explore this area
Business Placement
Demographics for 14004, NY
11,583
Population
4,386
Households
2.6
Avg Household Size
47
Median Age
22%
College-Educated
91%
High-School Grad
48.6 sq mi
ZIP Area
238
Density / Sq Mi
$88,011
Median Household Income
$51,981
Median Earnings
$754
Median Rent
$236,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
Frequently Asked Questions
What type of property is this?
Live-work space - The property combines residential living space with a dedicated commercial area configured for office use.
Where is this live-work space located?
The property is located at 11881 Broadway St Alden, NY.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: 1,868 SF of residential living space; 576 SF commercial area with lobby and two private rooms; Commercial portion currently configured as a chiropractic office
