Multifamily Residential Income
For Sale
$290,000
Pending
141 Borden Rd, Cheektowaga, NY 14043
Residential income multifamily asset located in a car-dependent area with minimal transit and somewhat bikeable conditions.
Property Size2,268 SF
Days on Market79
Property Features for 141 Borden Rd
General Information
Standard status
Pending
Size
2,268 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$9,480
Building Details
Building Size
2,268 SF
Year Built
1921
Stories
1
Units
2
Listing Agency:
Boulevard Real Estate WNY
(716) 310-1695
Listed By:
Kevin D Koszuta
(716) 310-1695
Source:
Elliman
Added: Jun 3
Changed: Aug 16
Last Checked: Aug 19 at 9:32AM
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 Boulevard Real Estate WNY
Investment Insights
Based on property information with market context.
This multifamily residential income property is being offered for sale at 141 Borden Rd, Cheektowaga, NY 14043, with a list price of $290,000.
Public transit access appears limited, reflected in a transit score of 11 and a walk score of 4, indicating the area is generally car-dependent. Bike score is 27, suggesting some, but not heavy, bicycle friendliness.
Additional details such as building layout, unit count, and property condition were not provided in the available information.
Public transit access appears limited, reflected in a transit score of 11 and a walk score of 4, indicating the area is generally car-dependent. Bike score is 27, suggesting some, but not heavy, bicycle friendliness.
Additional details such as building layout, unit count, and property condition were not provided in the available information.
Key Highlights
- Year built: 1921
- Bike score: 27 (somewhat bikeable)
- Walk score: 4 (car‑dependent)
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
$13,095
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
4.52%
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%
$261,900
$261.9K
Cap Rate 7%
$187,071
$187.1K
Cap Rate 9%
$145,500
$145.5K
Market Conditions
NOI Build-Up for 2,268 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
$36.7K $16.20/SF
− Vacancy
−$12.9K −$5.70/SF
EGI
$23.8K $10.50/SF
− OpEx
−$10.7K −$4.72/SF
NOI
$13.1K $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%
$261,900
Cap Rate 7%
$187,071
Cap Rate 9%
$145,500
Alternative Uses
Best Use
Apartment 5plus
$187.1K
$163.7K – $218.3K
NOI $13,095 @ 7.0% cap · market cap 4.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$495.8K
$433.8K – $578.4K
NOI $34,706 @ 7.0% cap · market cap 11.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
199
Businesses Nearby
Explore this area
Business Placement
Demographics for 14043, NY
24,962
Population
11,743
Households
2.1
Avg Household Size
45
Median Age
27%
College-Educated
94%
High-School Grad
9.1 sq mi
ZIP Area
2,743
Density / Sq Mi
$73,373
Median Household Income
$50,263
Median Earnings
$1,072
Median Rent
$192,800
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?
Multifamily property - Residential income multifamily asset located in a car-dependent area with minimal transit and somewhat bikeable conditions.
Where is this multifamily property located?
The property is located at 141 Borden Rd Cheektowaga, NY.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Year built: 1921; Bike score: 27 (somewhat bikeable); Walk score: 4 (car‑dependent)
