Duplex with Office
For Sale
Under Contract
$324,900
11881 Broadway Street, Alden, NY 14004
MULTI_FAMILY - Alden, NY
Property Size2,444 SF
Lot Size0.60 Acres
Price / SF$132.94
Days on Market99
Property Features for 11881 Broadway Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 3, Bathroom 1
Accessibility
Accessible Approach with Ramp
Appliances
GasWaterHeater
Lot features
Irregular Lot
Middle school
Alden Middle
High school
Alden Senior High
Elementary school district
Alden
Middle school district
Alden
High school district
Alden
Directions
.
Subdivision
Alden-142089
Standard status
Active Under Contract
APN
142089-118-110-0002-001-110
Size
2,444 SF
Lot size
0.60 Acres
Taxes and HOA fees
Tax Annual Amount
6756
Utilities
Sewer type
Septic Tank
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
1998
Floors in Building
1
Number of units
2
Flooring type
Hardwood, Carpet, Varies
Building materials
VinylSiding
Roof type
Asphalt
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
Dalton Reynolds · License #10401342408
(716) 352-8679
Added: May 3
Changed: Aug 8
Last Checked: Aug 9 at 3:06PM
MLS# B1678513
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.
Investment Insights
Based on property information with market context.
This duplex offers a true mixed-use setup with residential living and a dedicated commercial area under one roof. The property includes approximately 1,868 sq ft of residential space along with 576 sq ft of dedicated commercial space. The commercial portion has a welcoming lobby and two private rooms currently configured as a chiropractic office, suited for a variety of professional uses.
The property sits directly on Broadway and is designed for both day-to-day living and customer-facing accessibility. It is on a 0.6-acre lot and includes an accessible approach with a ramp. The home was built in 1998, with vinyl siding and an asphalt roof.
Comfort and core utilities include forced air heating with natural gas, central air cooling, and a gas water heater. Water service is public, while wastewater is handled by a septic tank.
The property sits directly on Broadway and is designed for both day-to-day living and customer-facing accessibility. It is on a 0.6-acre lot and includes an accessible approach with a ramp. The home was built in 1998, with vinyl siding and an asphalt roof.
Comfort and core utilities include forced air heating with natural gas, central air cooling, and a gas water heater. Water service is public, while wastewater is handled by a septic tank.
Key Highlights
- Approximately 1,868 sq ft residential space plus 576 sq ft dedicated commercial office space
- Commercial area includes a lobby and two private rooms configured as a chiropractic office
- Directly on Broadway for visibility and convenient access
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
1
Office units
Single-tenant
Tenancy
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?
Duplex - Duplex with central air and accessible ramp, plus a lobby and two private rooms configured as a chiropractic office.
Where is this duplex located?
The property is located at 11881 Broadway Street 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: Approximately 1,868 sq ft residential space plus 576 sq ft dedicated commercial office space; Commercial area includes a lobby and two private rooms configured as a chiropractic office; Directly on Broadway for visibility and convenient access
