Building Details

Building Size 3,536 SF

Year Built 1950

Buildings 1

Stories 2

Units 4

Listing Agency: a***@gmail.com Show Phone

Listed By: Andrew Hehl Show Phone

Source: Elliman

Added: Aug 19 Changed: Aug 22 Last Checked: Aug 23 at 8:17AM

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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 Andrew Hehl

Investment Insights

Based on property information with market context.

This four-unit apartment building, constructed in 1950, includes a mix of residential layouts across two levels. The lower floor contains a one-bedroom, one-bath studio-style apartment and a two-bedroom, one-bath apartment. Two additional apartments occupy the upper floor, each offering two bedrooms and two bathrooms.

Recent property updates include heating equipment, hot water tanks, and the roof. The building is located at 9687 Main St in Machias, New York. A Walk Score of 16 indicates a car-dependent setting, while the Bike Score of 28 reflects somewhat bikeable conditions.

Key Highlights

• Four‑unit apartment building with two levels of residential space
• Lower floor includes one‑bedroom, one‑bath and two‑bedroom, one‑bath apartments
• Two upper‑floor apartments each feature two bedrooms and two bathrooms

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

$22,722

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

6.31%

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%

$454,440 $454.4K

Cap Rate 7%

$324,600 $324.6K

Cap Rate 9%

$252,467 $252.5K

Market Conditions

NOI Build-Up for 3,536 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

$36.1K $10.20/SF

− Vacancy

−$3.6K −$1.02/SF

EGI

$32.5K $9.18/SF

− OpEx

−$9.7K −$2.75/SF

NOI

$22.7K $6.43/SF

Area

Cattaraugus County, NY

Vacancy

10.00%

Lease Rate

$10.20 /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%

$454,440

Cap Rate 7%

$324,600

Cap Rate 9%

$252,467

Alternative Uses

Best Use

Multifamily LT 5

$324.6K

$284.0K – $378.7K (±1% cap)

NOI $22,722 @ 7.0% cap · market cap 6.31%

Second Best

Apartment 5plus

$305.1K

$266.9K – $355.9K (±1% cap)

NOI $21,354 @ 7.0% cap · market cap 5.93%

Theoretical Best

Healthcare Medical

$698.9K

$611.5K – $815.3K (±1% cap)

NOI $48,920 @ 7.0% cap · market cap 13.59%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Quadplexes

Suggested Use

Top Pick Storage Facility Garden Center Cafe & Coffee Shop Veterinary Clinic Skin Care Clinic Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Location Intelligence

Trade Area within ½ mile

53

Businesses Nearby

Explore this area Business Placement

Demographics for 14101, NY

1,853

Population

1,073

Households

1.7

Avg Household Size

48

Median Age

10%

College-Educated

90%

High-School Grad

45.6 sq mi

ZIP Area

41

Density / Sq Mi

$70,083

Median Household Income

$31,887

Median Earnings

$1,050

Median Rent

$104,400

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this quadplexes located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Quadplex - Four-unit apartment property with varied layouts and recent roof, heating, and hot water system updates.

Where is this quadplex located?

The property is located at 9687 Main St Machias, NY.

What is the asking price?

The asking price for this property is $360,000.

What are key features of this property?

This property features: Four‑unit apartment building with two levels of residential space; Lower floor includes one‑bedroom, one‑bath and two‑bedroom, one‑bath apartments; Two upper‑floor apartments each feature two bedrooms and two bathrooms