Mixed-Use Property with 5-Bay
12444 Broadway, Alden, NY 14004
For Sale
New
$649,900
A C-2-zoned corner property combines a fitness-studio space with a four-bedroom apartment and separate utilities.
Property Size4,680 SF
Days on Market1
Property Features for 12444 Broadway
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Corner Location
Utilities to Site
Mixed-Use Components
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Taxes and HOA fees
Annual Taxes
Amenities
garage
storage
separate utilities
basement laundry
Building Details
Building Size
Year Built
Buildings
Stories
Tenancy
Listing Agency:
KELLER WILLIAMS REALTY WNY
Listed By:
John Gatas · License #10301217315
(716) 218-3146
Source:
Elliman
Added: Nov 6
Last Checked: Nov 6 at 2:53PM
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 KELLER WILLIAMS REALTY WNY
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Investment Insights
Based on property information with market context.
This mixed-use building has two units: a ground-floor commercial area arranged as a fitness studio and an upper-level apartment with four bedrooms and one bathroom. The apartment also includes a living room, formal dining room, and basement laundry. Separate utilities serve each unit.
The C-2-zoned property occupies a corner lot and includes a five-bay garage with additional storage, along with on-site parking.
The C-2-zoned property occupies a corner lot and includes a five-bay garage with additional storage, along with on-site parking.
Key Highlights
- Two‑unit building with a commercial fitness‑studio space and an upper‑level apartment
- Apartment has 4 bedrooms, 1 bathroom, a living room, formal dining room, and basement laundry
- Five‑bay garage with additional storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$43,963
Cap Rate
6.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$879,260
$879.3K
Cap Rate 7%
$628,043
$628.0K
Cap Rate 9%
$488,478
$488.5K
Market Conditions
NOI Build-Up for 4,680 SF
Gross rent
$84.2K $18.00/SF
− Vacancy
−$13.9K −$2.97/SF
EGI
$70.3K $15.03/SF
− OpEx
−$26.4K −$5.64/SF
NOI
$44.0K $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%
$879,260
Cap Rate 7%
$628,043
Cap Rate 9%
$488,478
Alternative Uses
Best Use
Mixed Use
$628.0K
$549.5K – $732.7K
NOI $43,963 @ 7.0% cap · market cap 6.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$895.2K – $1.19M
NOI $71,615 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
34
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
$236,300
Median Home Value
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Market
Average Price Trend$/SF for Mixed-use properties in Erie County, NY
Properties on Market for Mixed-use properties in Erie County
Frequently Asked Questions
What type of property is this?
Mixed-use property - A C-2-zoned corner property combines a fitness-studio space with a four-bedroom apartment and separate utilities.
Where is this mixed-use property located?
The property is located at 12444 Broadway Alden, 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: Two‑unit building with a commercial fitness‑studio space and an upper‑level apartment; Apartment has 4 bedrooms, 1 bathroom, a living room, formal dining room, and basement laundry; Five‑bay garage with additional storage
