1900s Multifamily Building with
For Sale
$1,050,000
25 Mariner Street, Buffalo, NY 14201
Six 1-bedroom units in a 3-story multifamily building with on-site laundry, on-street parking, zoned N-2R.
Property Size6,000 SF
Price / SF$175
Days on Market27
Property Features for 25 Mariner Street
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Multi-Unit
Zoning
N-2R
Additional Details
Multifamily Units
6
Amenities
on-site laundry
on-street parking
Building Details
Building Size
6,000 SF
Year Built
1900
Stories
3
Listing Agency:
Buffalo Office
(716) 852-7500
Listed By:
Tyler A. Balentine
(716) 852-7500
Source:
Pyramidbrokerage
Added: Jul 27
Changed: Aug 8
Last Checked: Aug 21 at 4:25AM
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 6,000 SF multifamily building was built in 1900 and features 6 units arranged across three stories. Each unit is a 1-bedroom, 1-bath layout. The property includes on-site laundry, and parking is available on the street.
Zoned N-2R, the building is positioned to benefit from proximity to the CBD and Elmwood Village. It presents a straightforward configuration for multifamily or apartment investors seeking an income-focused asset with established unit mix.
Zoned N-2R, the building is positioned to benefit from proximity to the CBD and Elmwood Village. It presents a straightforward configuration for multifamily or apartment investors seeking an income-focused asset with established unit mix.
Key Highlights
- 6,000 SF multifamily building built in 1900 with 6 total units in a 3‑story layout
- All units are 1 bedroom and 1 bath (6 units total)
- On‑site laundry included
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
$54,836
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
5.22%
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%
$1,096,720
$1.1M
Cap Rate 7%
$783,371
$783.4K
Cap Rate 9%
$609,289
$609.3K
Market Conditions
NOI Build-Up for 6,000 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
$104.4K $17.40/SF
− Vacancy
−$4.7K −$0.78/SF
EGI
$99.7K $16.62/SF
− OpEx
−$44.9K −$7.48/SF
NOI
$54.8K $9.14/SF
Area
Buffalo, NY
Vacancy
4.50%
Lease Rate
$17.40 /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%
$1,096,720
Cap Rate 7%
$783,371
Cap Rate 9%
$609,289
Alternative Uses
Best Use
Apartment 5plus
$783.4K
$685.5K – $913.9K
NOI $54,836 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $101,002 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
4,473
Businesses Nearby
Explore this area
Business Placement
Demographics for 14201, NY
12,364
Population
7,172
Households
1.7
Avg Household Size
33
Median Age
39%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
11,240
Density / Sq Mi
$34,204
Median Household Income
$34,081
Median Earnings
$953
Median Rent
$327,900
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?
Apartment building - Six 1-bedroom units in a 3-story multifamily building with on-site laundry, on-street parking, zoned N-2R.
Where is this apartment building located?
The property is located at 25 Mariner Street Buffalo, NY.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 6,000 SF multifamily building built in 1900 with 6 total units in a 3‑story layout; All units are 1 bedroom and 1 bath (6 units total); On‑site laundry included
