Retail Space with Historic
For Sale
$329,000
6244 Boston State Rd, Hamburg, NY 14075
A classic home currently operates as a hair salon under a home business permit.
Property Size1,416 SF
Days on Market119
Property Features for 6244 Boston State Rd
General Information
Standard status
Active
Size
1,416 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$6,938
Building Details
Building Size
1,416 SF
Year Built
1925
Buildings
1
Stories
2
Listed By:
Ramona Cook
(716) 545-1279
Source:
Elliman
Added: May 9
Changed: Aug 30
Last Checked: Aug 31 at 2:48PM
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 Ramona Cook
Investment Insights
Based on property information with market context.
This 1925 property is configured as a two-story retail space currently operating as a hair salon with a home business permit. The first floor includes formal living and dining rooms, an eat-in kitchen, half bath, and sun porch. Three bedrooms, a full bath, laundry area, and covered deck occupy the second floor. Preserved interior details include hardwood flooring, French doors, built-in cabinetry, and a fireplace.
Recent improvements include a poured concrete foundation, floor and egress windows, replacement windows, 200 Amp electrical service, an expanded concrete driveway and parking area, a ramp, a new furnace, and mini-split air conditioning. The property is located at 6244 Boston State Rd, Hamburg, NY 14075, near the village line. Walk Score is 33 and Bike Score is 35.
Recent improvements include a poured concrete foundation, floor and egress windows, replacement windows, 200 Amp electrical service, an expanded concrete driveway and parking area, a ramp, a new furnace, and mini-split air conditioning. The property is located at 6244 Boston State Rd, Hamburg, NY 14075, near the village line. Walk Score is 33 and Bike Score is 35.
Key Highlights
- Current hair salon use with home business permit
- Two‑story layout with 3 bedrooms, full bath, laundry, and covered deck
- 2023 poured concrete foundation, floor and egress windows
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
$12,732
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
3.87%
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%
$254,640
$254.6K
Cap Rate 7%
$181,886
$181.9K
Cap Rate 9%
$141,467
$141.5K
Market Conditions
NOI Build-Up for 1,416 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
$20.4K $14.40/SF
− Vacancy
−$2.2K −$1.56/SF
EGI
$18.2K $12.84/SF
− OpEx
−$5.5K −$3.85/SF
NOI
$12.7K $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%
$254,640
Cap Rate 7%
$181,886
Cap Rate 9%
$141,467
Alternative Uses
Best Use
Retail
$181.9K
$159.2K – $212.2K
NOI $12,732 @ 7.0% cap · market cap 3.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$309.5K
$270.9K – $361.1K
NOI $21,668 @ 7.0% cap · market cap 6.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
178
Businesses Nearby
Explore this area
Business Placement
Demographics for 14075, NY
44,053
Population
20,164
Households
2.2
Avg Household Size
46
Median Age
38%
College-Educated
96%
High-School Grad
39.4 sq mi
ZIP Area
1,118
Density / Sq Mi
$82,083
Median Household Income
$50,934
Median Earnings
$1,129
Median Rent
$246,100
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - A classic home currently operates as a hair salon under a home business permit.
Where is this retail space located?
The property is located at 6244 Boston State Rd Hamburg, NY.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Current hair salon use with home business permit; Two‑story layout with 3 bedrooms, full bath, laundry, and covered deck; 2023 poured concrete foundation, floor and egress windows
