Mixed-Use Property with Restaurant
For Sale
$750,000
1238 Walden Ave, Cheektowaga, NY 14211
Mixed-use property featuring a restaurant and a residential unit.
Property Size6,385 SF
Lot Size0.48 Acres
Days on Market153
Property Features for 1238 Walden Ave
General Information
Standard status
Active
Size
6,385 SF
Lot size
0.48 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$4,524
Building Details
Building Size
6,385 SF
Year Built
1900
Stories
2
Listing Agency:
CENTURY 21 Balesteri Real Estate
(716) 510-1232
Listed By:
Gwendolyn McDonald · License #10401309943
(716) 510-1232
Source:
Elliman
Added: Mar 10
Changed: Aug 8
Last Checked: Aug 8 at 1:06PM
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 CENTURY 21 Balesteri Real Estate
Investment Insights
Based on property information with market context.
This mixed-use property presents an investment opportunity, featuring a newly installed steel roof. The lower front is currently configured as a restaurant but offers adaptability for conversion to other uses. The upper unit is a large apartment with 4 bedrooms and 1 bathroom. Additional features include a basement and a 4-car garage. A spacious parking lot is attached, accommodating over 20 vehicles.
Key Highlights
- Mixed‑use property suitable for business and residential purposes
- Large upper‑level apartment with 4 bedrooms
- Spacious parking lot with 20+ spaces
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
$59,979
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
8.00%
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%
$1,199,580
$1.2M
Cap Rate 7%
$856,843
$856.8K
Cap Rate 9%
$666,433
$666.4K
Market Conditions
NOI Build-Up for 6,385 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
$114.9K $18.00/SF
− Vacancy
−$19.0K −$2.97/SF
EGI
$96.0K $15.03/SF
− OpEx
−$36.0K −$5.64/SF
NOI
$60.0K $9.39/SF
Area
Erie County, NY
Vacancy
16.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,199,580
Cap Rate 7%
$856,843
Cap Rate 9%
$666,433
Alternative Uses
Best Use
Specialty Retail
$1.10M
$961.1K – $1.28M
NOI $76,888 @ 7.0% cap · market cap 10.25%
Second Best
Mixed Use
$856.8K
$749.7K – $999.7K
NOI $59,979 @ 7.0% cap · market cap 8.00%
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,706 @ 7.0% cap · market cap 13.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
578
Businesses Nearby
Explore this area
Business Placement
Demographics for 14211, NY
26,449
Population
11,498
Households
2.3
Avg Household Size
32
Median Age
15%
College-Educated
84%
High-School Grad
3.9 sq mi
ZIP Area
6,782
Density / Sq Mi
$34,490
Median Household Income
$30,705
Median Earnings
$1,008
Median Rent
$91,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property featuring a restaurant and a residential unit.
Where is this mixed-use property located?
The property is located at 1238 Walden Ave Cheektowaga, NY.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Mixed‑use property suitable for business and residential purposes; Large upper‑level apartment with **4 bedrooms**; Spacious parking lot with 20+ spaces
