Mixed-Use Property with Restaurant
1238 Walden Ave, Cheektowaga, NY 14211
For Sale
$750,000
Mixed-use property featuring a restaurant and a four-bedroom apartment.
Property Size6,385 SF
Lot Size0.48 Acres
Days on Market347
Property Features for 1238 Walden Ave
General Information
Standard status
Size
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Listing Agency:
CENTURY 21 Balesteri Real Estate
Listed By:
Gwendolyn McDonald · License #10401309943
(716) 510-1232
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 8
Last Checked: Aug 25 at 9:53AM
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
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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 unit is currently occupied by a restaurant but offers potential for conversion to other uses. The upper unit is a large apartment with four bedrooms and one bathroom. The property includes a basement and a four-car garage, along with a spacious parking lot that can accommodate over 20 vehicles. This property is located in Cheektowaga, NY.
Key Highlights
- Mixed‑use property suitable for business and residential purposes
- Large upper‑level apartment with 4 bedrooms
- Spacious parking lot with 20+ spots
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,979
Cap Rate
8.00%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Location Intelligence
Trade Area within ½ mile
578
Businesses Nearby
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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
$91,600
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Erie County, NY
Properties on Market for Mixed-use properties in Erie County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property featuring a restaurant and a four-bedroom apartment.
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+ spots
