All-Brick Two-Family
For Sale
$279,000
Pending
83 Sable Palm Dr, Cheektowaga, NY 14225
Two-family home with long-term tenants and multiple updates, including a 2024 sewer line and 2009 roof.
Property Size2,008 SF
Days on Market106
Property Features for 83 Sable Palm Dr
General Information
Standard status
Pending
Size
2,008 SF
Property subtype
Multi Family
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,060
Building Details
Building Size
2,008 SF
Year Built
1960
Stories
2
Units
2
Construction
brick
Tenancy
Multi
Listing Agency:
M J Peterson Real Estate
(716) 684-3555
Listed By:
Joanne Simme Good · License #30SI1017596
(716) 684-3555
Source:
Elliman
Added: May 9
Changed: Aug 8
Last Checked: Aug 22 at 9:28AM
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 M J Peterson Real Estate
Investment Insights
Based on property information with market context.
This all-brick two-family duplex is offered with long-term tenants who want to stay. The property has received updates over the years, including a roof installed in 2009, furnaces updated in 2017, a hot water tank noted as 2012 and 2017, windows installed in 2007, and a sewer line replacement in 2024.
The home is described as being in an area with easy access to the airport, Galleria Mall, and highways to downtown. Walk Score is 22 (car-dependent), Bike Score is 30 (somewhat bikeable), and Transit Score is 24 (minimal transit).
The home is described as being in an area with easy access to the airport, Galleria Mall, and highways to downtown. Walk Score is 22 (car-dependent), Bike Score is 30 (somewhat bikeable), and Transit Score is 24 (minimal transit).
Key Highlights
- All‑brick two‑family home built in 1960
- Long‑term tenants want to stay; tenants reportedly take care of the property
- Multiple updates including roof (2009), furnaces (2017), and windows (2007)
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
$12,911
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
4.63%
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%
$258,220
$258.2K
Cap Rate 7%
$184,443
$184.4K
Cap Rate 9%
$143,456
$143.5K
Market Conditions
NOI Build-Up for 2,008 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
$27.7K $13.80/SF
− Vacancy
−$9.3K −$4.61/SF
EGI
$18.4K $9.19/SF
− OpEx
−$5.5K −$2.76/SF
NOI
$12.9K $6.43/SF
Area
Erie County, NY
Vacancy
33.44%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$258,220
Cap Rate 7%
$184,443
Cap Rate 9%
$143,456
Alternative Uses
Best Use
Multifamily LT 5
$184.4K
$161.4K – $215.2K
NOI $12,911 @ 7.0% cap · market cap 4.63%
Second Best
Apartment 5plus
$165.6K
$144.9K – $193.2K
NOI $11,594 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$439.0K
$384.1K – $512.1K
NOI $30,727 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
307
Businesses Nearby
Explore this area
Business Placement
Demographics for 14225, NY
34,066
Population
16,253
Households
2.1
Avg Household Size
41
Median Age
29%
College-Educated
93%
High-School Grad
11.5 sq mi
ZIP Area
2,962
Density / Sq Mi
$65,562
Median Household Income
$44,408
Median Earnings
$937
Median Rent
$154,500
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?
Duplex - Two-family home with long-term tenants and multiple updates, including a 2024 sewer line and 2009 roof.
Where is this duplex located?
The property is located at 83 Sable Palm Dr Cheektowaga, NY.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: All‑brick two‑family home built in 1960; Long‑term tenants want to stay; tenants reportedly take care of the property; Multiple updates including roof (2009), furnaces (2017), and windows (2007)
