Mixed-Use Property with Commercial
New
For Sale
$374,900
5314 Broadway St, Lancaster, NY 14086
Combines two apartments with flexible commercial suites and several recently updated building systems.
Property Size5,046 SF
Price / SF$74.30
Days on Market3
Property Features for 5314 Broadway St
General Information
Standard status
Active
Size
5,046 SF
Total Parking Spaces
8
Units
Unit Mix
1 x 3BR, 1 x 1BR
Multifamily Units
2
Additional Details
Road Access
Yes
Building Details
Year Built
1890
Tenancy
Multi
Listing Agency:
Perfect Place
Listed By:
Stephanie A Morgan · License #49MO0969814
(716) 866-8101
Source:
Skinnercnyrealty
Added: Sep 11
Last Checked: Sep 12 at 3:29PM
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 Perfect Place
Investment Insights
Based on property information with market context.
This 5046-square-foot mixed-use property, built in 1890, combines two apartments with commercial space divided into three suites. The upper residence includes three bedrooms, a formal dining room, and generous living areas. The lower apartment offers one bedroom and an open living and kitchen arrangement. Both apartments have new hot water tanks, while the office area has a new furnace.
The commercial portion is supported by three-phase electric service, and the paved parking lot accommodates up to 8 cars. The property fronts Broadway St in Lancaster and is positioned near shopping, amenities, and commuter routes. The updated lower apartment and refreshed parking surface add practical improvements across the residential and commercial components.
The commercial portion is supported by three-phase electric service, and the paved parking lot accommodates up to 8 cars. The property fronts Broadway St in Lancaster and is positioned near shopping, amenities, and commuter routes. The updated lower apartment and refreshed parking surface add practical improvements across the residential and commercial components.
Key Highlights
- 5046‑square‑foot mixed‑use property built in 1890
- Two apartments: one with 3 bedrooms and one with 1 bedroom
- Commercial area includes 3 suites
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
$29,134
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
7.77%
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%
$582,680
$582.7K
Cap Rate 7%
$416,200
$416.2K
Cap Rate 9%
$323,711
$323.7K
Market Conditions
NOI Build-Up for 5,046 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
$81.7K $16.20/SF
− Vacancy
−$28.8K −$5.70/SF
EGI
$53.0K $10.50/SF
− OpEx
−$23.8K −$4.72/SF
NOI
$29.1K $5.77/SF
Area
Erie County, NY
Vacancy
35.20%
Lease Rate
$16.20 /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%
$582,680
Cap Rate 7%
$416,200
Cap Rate 9%
$323,711
Alternative Uses
Best Use
Mixed Use
$677.2K
$592.5K – $790.0K
NOI $47,401 @ 7.0% cap · market cap 12.64%
Second Best
Apartment 5plus
$416.2K
$364.2K – $485.6K
NOI $29,134 @ 7.0% cap · market cap 7.77%
Theoretical Best
Office A
$1.10M
$965.2K – $1.29M
NOI $77,216 @ 7.0% cap · market cap 20.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
572
Businesses Nearby
Explore this area
Business Placement
Demographics for 14086, NY
35,010
Population
15,486
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
95%
High-School Grad
33.3 sq mi
ZIP Area
1,051
Density / Sq Mi
$95,949
Median Household Income
$53,164
Median Earnings
$983
Median Rent
$263,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Combines two apartments with flexible commercial suites and several recently updated building systems.
Where is this mixed-use property located?
The property is located at 5314 Broadway St Lancaster, NY.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: 5046‑square‑foot mixed‑use property built in 1890; Two apartments: one with 3 bedrooms and one with 1 bedroom; Commercial area includes 3 suites
