Strip Mall with Subdividable
For Sale
$1,625,000
13394 Broadway Street, Alden, NY 14004
2016-built strip mall on 1.9 acres with open retail space and storage that can be subdivided into multiple storefronts.
Property Size9,000 SF
Lot Size1.90 Acres
Days on Market406
Property Features for 13394 Broadway Street
General Information
Standard status
Active
Size
9,000 SF
Lot size
1.90 Acres
Property subtype
Business
Taxes and HOA fees
Annual Taxes
$10,142
Building Details
Building Size
9,000 SF
Year Built
2016
Buildings
2
Listing Agency:
Nichol City Realty
Listed By:
Shannon L McNichol · License #10491201898
(716) 480-8117
Source:
Highfallssir
Added: Aug 6, 2025
Changed: Sep 9
Last Checked: Sep 15 at 9:06AM
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 Nichol City Realty
Investment Insights
Based on property information with market context.
This 2016-built strip mall sits on 1.9 acres and includes almost 9,000 SF of open retail space plus supporting back-of-house areas. The layout is complemented by two bathrooms, a breakroom/kitchen, an office, and storage, along with three overhead doors. The building is served by three furnaces and AC units.
The property also has a generator that was installed in March 2025. It can be subdivided to create up to three storefronts within the main building. In addition, a new 40x60 pole barn was built in 2024 and can be subdivided to two separate units.
The sale is for the building only. The business and any inventory are described as negotiable under the transaction terms, with the buyer interview and NDA process required and no drive-by visits requested.
The property also has a generator that was installed in March 2025. It can be subdivided to create up to three storefronts within the main building. In addition, a new 40x60 pole barn was built in 2024 and can be subdivided to two separate units.
The sale is for the building only. The business and any inventory are described as negotiable under the transaction terms, with the buyer interview and NDA process required and no drive-by visits requested.
Key Highlights
- Almost 9,000 SF of open retail space in a 2016‑built main building
- 1.9‑acre strip mall site with office, breakroom/kitchen, storage, and two bathrooms
- Main building includes three overhead doors, plus three furnaces and AC units
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
$80,922
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
4.98%
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%
$1,618,440
$1.6M
Cap Rate 7%
$1,156,029
$1.2M
Cap Rate 9%
$899,133
$899.1K
Market Conditions
NOI Build-Up for 9,000 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
$129.6K $14.40/SF
− Vacancy
−$14.0K −$1.56/SF
EGI
$115.6K $12.84/SF
− OpEx
−$34.7K −$3.85/SF
NOI
$80.9K $8.99/SF
Area
Erie County, NY
Vacancy
10.80%
Lease Rate
$14.40 /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%
$1,618,440
Cap Rate 7%
$1,156,029
Cap Rate 9%
$899,133
Alternative Uses
Best Use
Retail
$1.16M
$1.01M – $1.35M
NOI $80,922 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.97M
$1.72M – $2.30M
NOI $137,722 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
222
Businesses Nearby
12k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
6,263 visits/mo
0.1 miles
Crosby's
Shops & Services
5,353 visits/mo
0.3 miles
Demographics for 14004, NY
11,583
Population
4,386
Households
2.6
Avg Household Size
47
Median Age
22%
College-Educated
91%
High-School Grad
48.6 sq mi
ZIP Area
238
Density / Sq Mi
$88,011
Median Household Income
$51,981
Median Earnings
$754
Median Rent
$236,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
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Frequently Asked Questions
What type of property is this?
Strip mall - 2016-built strip mall on 1.9 acres with open retail space and storage that can be subdivided into multiple storefronts.
Where is this strip mall located?
The property is located at 13394 Broadway Street Alden, NY.
What is the asking price?
The asking price for this property is $1,625,000.
What are key features of this property?
This property features: Almost 9,000 SF of open retail space in a 2016‑built main building; 1.9‑acre strip mall site with office, breakroom/kitchen, storage, and two bathrooms; Main building includes three overhead doors, plus three furnaces and AC units
