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 Market32
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
(716) 352-8679
Listed By:
Dalton Reynolds · License #10401342408
Source:
Skinnercnyrealty
Added: Jul 31
Changed: Aug 29
Last Checked: Aug 30 at 8:41PM
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
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,545
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.25%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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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
