Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    8 Monroe St Ellicottville, NY 14731

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $400,000

    Multifamily property for sale in Ellicottville, NY.

    Lot size:
    0.14 Acres

    Property Features for 8 Monroe St

    General Information

    Lot size
    0.14 Acres

    Building Details

    Year built
    1928

    We can help!

    Listing Contact
    Gregory Straus
    Gregory Straus
    Source: Elliman

    Listing Agent: Gregory Straus

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Ellicottville Multifamily Investment Opportunity

    This multifamily property, located at 8 Monroe St in Ellicottville, NY, is available for sale. The list price is $400,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Restaurant Building Supply Dental Office Law Firm Big Box & Wholesale Store Auto Repair Shop Real Estate Agency Hair Salon Pharmacy Spa & Massage Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Ellicottville
    County
    Cattaraugus
    State
    New York
    Longitude
    -78.6715613
    Latitude
    42.2765605

    Nearby Similar for Sale

    • $9,500,000
      6,888 SF

      Ellicottville Turn-Key Restaurant & Apartments

      Renowned restaurant, bar, and renovated apartments in Ellicottville, NY.
      26-28 Washington St, Ellicottville, NY 14731
      View Details
    • $845,000
      3,136 SF

      Ellicottville Multifamily Investment Opportunity

      Three residential properties near Holimont Ski Area, offering rental income potential.
      6979 Nys Rte 242 W, Ellicottville, NY 14731
      View Details
    • $1,150,000
      19,974 SF

      Historic Building in Ellicottville Village

      Historic 1887 building in the heart of Ellicottville, New York.
      1-7 Washington St Washington, Ellicottville, NY 14731
      View Details
    • $1,150,000

      Historic Building in Ellicottville Village

      Historic 1887 building in the heart of Ellicottville, New York.
      1 Washington St, Ellicottville, NY 14731
      View Details
    • $69,000

      Fractional Ownership at Holiday Valley

      Fractional ownership at Holiday Valley Resort with extensive amenities.
      6447 Holiday Vly #520/522 Fraction 2 Rd, Ellicottville, NY 14731
      View Details
    • $532,427

      Ellicottville Pizzeria: Real Estate & Business

      Ellicottville pizzeria, real estate, and business for sale.
      21 Monroe St, Ellicottville, NY 14731
      View Details
    • $99,900

      Ellicottville Specialty Property For Sale

      Specialty property available in Ellicottville, New York.
      317/319-4 Tamarack Dr, Ellicottville, NY 14731
      View Details
    • $299,000

      Ellicottville Multifamily Property for Sale

      Multifamily property in Ellicottville, NY, available for purchase.
      29 Holiville 29, Ellicottville, NY 14731
      View Details
    • $529,000

      Ellicottville Specialty Property For Sale

      Specialty property available for purchase in Ellicottville, New York.
      6 Martha St, Ellicottville, NY 14731
      View Details
    • $450,000
      2,000 SF

      Ellicottville Pizzeria Business Opportunity

      Successful, fully operational pizzeria for sale in Ellicottville, NY.
      8 Bristol, Ellicottville, NY 14731
      View Details
    • $1,249,000
      4,608 SF

      Ellicottville Village Inn - For Sale

      Historic Inn, 5 Rooms, 2 Apartments
      3 Jefferson St, Ellicottville, NY 14731
      View Details
    • $1,250,000
      19,974 SF

      Historic Ellicottville Village Building

      Prime Village Location, Versatile Space, 19,974 sq ft
      17 Washington St, Ellicottville, NY 14731
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Multifamily property for sale in Ellicottville, NY.
    Where is this multifamily property located?
    The property is located at 8 Monroe St Ellicottville, NY.
    What is the asking price?
    The asking price for this property is $400,000.
    What are key features of this property?
    This property features: - Year Built: 1928
    (716) 362-2373
    Request Owner's contact information
    8 Monroe St Ellicottville, NY 14731
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    8 Monroe St
    Ellicottville, NY 14731
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    8 Monroe St Ellicottville, NY 14731
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Gregory Straus
    Gregory Straus
    (716) 362-2373
    Learn more
    Google sign-in failed. Please try again or use another login method.