Corner Multifamily
For Sale
$624,900
108 Buffalo Street, Hamburg, NY 14075
Five-unit apartment building on a corner lot, with on-site parking and utilities included in rent.
Property Size5,020 SF
Price / SF$124.48
Days on Market54
Property Features for 108 Buffalo Street
General Information
Standard status
Active
Size
5,020 SF
Total Parking Spaces
10
Property subtype
Multi-Unit
Additional Details
Multifamily Units
5
Building Details
Building Size
5,020 SF
Listing Agency:
Buffalo Office
(716) 852-7500
Listed By:
David P. Seider
(716) 852-7500
Source:
Pyramidbrokerage
Added: Jun 22
Changed: Aug 7
Last Checked: Aug 14 at 6:14AM
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 Buffalo Office
Investment Insights
Based on property information with market context.
This corner multifamily property includes five total apartment units: three one-bedroom units and one two-bedroom apartment. The building is set up for residential income use, and the current rent structure includes gas, electric, and water utilities for residents.
The property is located in the Village of Hamburg on a corner site at Buffalo St and Pleasant Ave. A surface parking lot on site provides 10 parking spaces, supporting everyday tenant parking needs.
With a compact mix of one- and two-bedroom layouts, this property can fit investors or operators seeking a smaller residential income asset. The inclusion of utilities in rent and the availability of on-site parking are practical features that may help streamline resident cost considerations and day-to-day access.
The property is located in the Village of Hamburg on a corner site at Buffalo St and Pleasant Ave. A surface parking lot on site provides 10 parking spaces, supporting everyday tenant parking needs.
With a compact mix of one- and two-bedroom layouts, this property can fit investors or operators seeking a smaller residential income asset. The inclusion of utilities in rent and the availability of on-site parking are practical features that may help streamline resident cost considerations and day-to-day access.
Key Highlights
- 5‑unit apartment building on a corner lot at Buffalo St and Pleasant Ave in the Village of Hamburg
- Unit mix includes three 1‑bedroom and one 2‑bedroom apartment
- Rents include gas, electric, and water utilities
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
$28,984
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
4.64%
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%
$579,680
$579.7K
Cap Rate 7%
$414,057
$414.1K
Cap Rate 9%
$322,044
$322.0K
Market Conditions
NOI Build-Up for 5,020 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
$81.3K $16.20/SF
− Vacancy
−$28.6K −$5.70/SF
EGI
$52.7K $10.50/SF
− OpEx
−$23.7K −$4.72/SF
NOI
$29.0K $5.77/SF
Area
Erie County, NY
Vacancy
35.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$579,680
Cap Rate 7%
$414,057
Cap Rate 9%
$322,044
Alternative Uses
Best Use
Apartment 5plus
$414.1K
$362.3K – $483.1K
NOI $28,984 @ 7.0% cap · market cap 4.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$960.2K – $1.28M
NOI $76,818 @ 7.0% cap · market cap 12.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
978
Businesses Nearby
Explore this area
Business Placement
Demographics for 14075, NY
44,053
Population
20,164
Households
2.2
Avg Household Size
46
Median Age
38%
College-Educated
96%
High-School Grad
39.4 sq mi
ZIP Area
1,118
Density / Sq Mi
$82,083
Median Household Income
$50,934
Median Earnings
$1,129
Median Rent
$246,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit apartment building on a corner lot, with on-site parking and utilities included in rent.
Where is this apartment building located?
The property is located at 108 Buffalo Street Hamburg, NY.
What is the asking price?
The asking price for this property is $624,900.
What are key features of this property?
This property features: 5‑unit apartment building on a corner lot at Buffalo St and Pleasant Ave in the Village of Hamburg; Unit mix includes three 1‑bedroom and one 2‑bedroom apartment; Rents include gas, electric, and water utilities
