Updated Two-Unit
For Sale
$329,900
1294 George Urban Boulevard, Cheektowaga, NY 14225
Two residential units offer updated finishes, off-street parking, and substantial storage space.
Property Size2,464 SF
Days on Market24
Property Features for 1294 George Urban Boulevard
General Information
Standard status
Active
Size
2,464 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$7,004
Building Details
Building Size
2,464 SF
Year Built
1952
Listing Agency:
Keller Williams Realty WNY
(716) 345-0437
Listed By:
Theodore N Gogos · License #10301224223
(716) 345-0437
Source:
Highfallssir
Added: Jul 28
Changed: Aug 18
Last Checked: Aug 19 at 3:39PM
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
Investment Insights
Based on property information with market context.
This two-unit duplex includes a three-bedroom, one-bath lower residence and a matching three-bedroom, one-bath upper residence. Recent improvements include fresh paint and flooring throughout, along with an updated eat-in kitchen in the lower unit. The lower residence is owner-occupied and expected to be vacant at closing, while the upper unit is currently leased. A full basement, detached two-car garage, and off-street parking provide additional storage and vehicle capacity.
Built in 1952, the property is located at 1294 George Urban Boulevard in Cheektowaga, near highway access, the Buffalo-Niagara airport, shopping, public transportation, and everyday services. Showings require 24 hours’ notice, with 48 hours preferred.
Built in 1952, the property is located at 1294 George Urban Boulevard in Cheektowaga, near highway access, the Buffalo-Niagara airport, shopping, public transportation, and everyday services. Showings require 24 hours’ notice, with 48 hours preferred.
Key Highlights
- Two‑unit duplex with 3‑bedroom, 1‑bath residences
- Lower unit to be vacant at closing; upper unit is tenant occupied
- Updated eat‑in kitchen in lower unit
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
$15,843
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
4.80%
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%
$316,860
$316.9K
Cap Rate 7%
$226,329
$226.3K
Cap Rate 9%
$176,033
$176.0K
Market Conditions
NOI Build-Up for 2,464 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
$34.0K $13.80/SF
− Vacancy
−$11.4K −$4.61/SF
EGI
$22.6K $9.19/SF
− OpEx
−$6.8K −$2.76/SF
NOI
$15.8K $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%
$316,860
Cap Rate 7%
$226,329
Cap Rate 9%
$176,033
Alternative Uses
Best Use
Multifamily LT 5
$226.3K
$198.0K – $264.1K
NOI $15,843 @ 7.0% cap · market cap 4.80%
Second Best
Apartment 5plus
$203.2K
$177.8K – $237.1K
NOI $14,226 @ 7.0% cap · market cap 4.31%
Theoretical Best
Office A
$538.6K
$471.3K – $628.4K
NOI $37,705 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
629
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units offer updated finishes, off-street parking, and substantial storage space.
Where is this duplex located?
The property is located at 1294 George Urban Boulevard Cheektowaga, NY.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Two‑unit duplex with 3‑bedroom, 1‑bath residences; Lower unit to be vacant at closing; upper unit is tenant occupied; Updated eat‑in kitchen in lower unit
