Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    218 E 2Nd St, Unit 212-218 Jamestown, NY 14701

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Pending
    $649,900

    21-unit multifamily property with mechanical updates and growth potential.

    Lot size:
    0.24 Acres

    Property Features for 218 E 2Nd St

    General Information

    Property type
    Investment
    Standard status
    Pending
    Lot size
    0.24 Acres

    Building Details

    Year built
    1910

    We can help!

    Listing Contact
    Carolyn Lawson
    Source: Elliman

    Listing Agent: Carolyn Lawson

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

    Learn more

    Overview

    21-Unit Multifamily Investment Opportunity

    This multifamily property features 21 units, presenting an investment opportunity. The current owner has completed several mechanical updates, contributing to the property's smooth operation. The current rent roll exceeds $12,000 per month and is increasing. There is potential for increasing rents over time through continued improvements. The property management has a positive relationship with the tenants and is interested in remaining in place.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Jamestown
    County
    Chautauqua
    State
    New York
    Longitude
    -79.2377563
    Latitude
    42.0958876

    Nearby Similar for Sale

    • $190,000
      Pending

      Downtown Jamestown Commercial Property For Sale

      High-visibility commercial property with parking in downtown Jamestown, New York.
      101 W 4Th St, Jamestown, NY 14701
      View Details
    • $199,000
      Pending

      Versatile Commercial Building in Jamestown

      Spacious commercial building with shop area, offices, and expansion potential.
      289 Steele St, Jamestown, NY 14701
      View Details
    • $384,000
      45,834 SF

      Historic Schoolhouse with Redevelopment Potential

      Historic Jamestown schoolhouse on two acres, ideal for redevelopment.
      1101 E 2Nd St, Jamestown, NY 14701
      View Details
    • $449,000
      9,097 SF

      Historic Jamestown Mansion For Sale

      19th-century mansion with original features, ideal for commercial use.
      413 N Main St, Jamestown, NY 14701
      View Details
    • $659,900
      18,685 SF

      Jamestown Manufacturing & Warehouse Facility

      Versatile industrial property with manufacturing, warehouse, and office space.
      19.5 Blackstone Ave, Jamestown, NY 14701
      View Details
    • New
      $49,900
      2,164 SF

      Mixed-Use Building with Commercial Space

      Mixed-use building with commercial space and residential apartment.
      121 Willard Street Ext, Jamestown, NY 14701
      View Details
    • New
      $129,900
      2,120 SF

      Jamestown Two-Family Home For Sale

      Charming two-family home in a desirable West Side neighborhood.
      12 Kenmore Ave, Jamestown, NY 14701
      View Details
    • $82,000
      Pending

      Versatile Jamestown Multi-Family Home

      Convertible two-family home near schools and shopping.
      70 Pershing Ave, Jamestown, NY 14701
      View Details
    • $87,500
      2,376 SF

      Jamestown Multifamily Investment Opportunity

      Two-unit property with recent upgrades, ideal for investment.
      19 Park Street Ext, Jamestown, NY 14701
      View Details
    • $89,900
      Pending

      Jamestown Triplex Investment Opportunity

      Three-unit property in Jamestown, NY, generating monthly rental income.
      331 Foote Avenue Ext, Jamestown, NY 14701
      View Details
    • New
      $82,500
      1,688 SF

      Well-Maintained Jamestown Multi-Family Unit

      Two-unit property with potential for single-family conversion.
      11 Prather Ave, Jamestown, NY 14701
      View Details
    • Contact for pricing
      Pending

      Jamestown Duplex with Living Space

      Two-unit duplex in Jamestown, NY, featuring substantial living space.
      127 Maple St, Jamestown, NY 14701
      View Details

    FAQs

    What type of property is this?
    Apartment building - 21-unit multifamily property with mechanical updates and growth potential.
    Where is this apartment building located?
    The property is located at 218 E 2Nd St, Unit 212-218 Jamestown, NY.
    What is the asking price?
    The asking price for this property is $649,900.
    What are key features of this property?
    This property features: - High Income Potential: Current rent roll exceeds $12,000 per month and is growing.; - Turnkey Investment: Property is running smoothly with recent mechanical updates.; - Value-Add Opportunity: Potential to increase rents through further improvements.
    (716) 450-4795
    Request Owner's contact information
    218 E 2Nd St, Unit 212-218 Jamestown, NY 14701
    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.
    218 E 2Nd St, Unit 212-218
    Jamestown, NY 14701
    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
    218 E 2Nd St, Unit 212-218 Jamestown, NY 14701
    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
    Carolyn Lawson
    (716) 450-4795
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!