Historic District Office
New
For Sale
$429,900
324 Pine Ave, Niagara Falls, NY 14301
Commercial professional zoning, finished attic space, and central air serve a flexible office configuration.
Property Size3,848 SF
Price / SF$155.31
Days on Market7
Property Features for 324 Pine Ave
General Information
Standard status
Active
Size
3,848 SF
Property subtype
Commercial
Zoning
commercial professional
Taxes and HOA fees
Annual Taxes
$5,012
Amenities
central air conditioning
Building Details
Building Size
3,848 SF
Year Built
1950
Stories
2
Listed By:
Zachary A Ventry
(716) 946-8837
Source:
Elliman
Added: Sep 16
Changed: Sep 18
Last Checked: Sep 21 at 9:50AM
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 Zachary A Ventry
Investment Insights
Based on property information with market context.
Built in 1950, this approximately 2,768-square-foot office building was previously occupied by a law firm and is located within a historic district. The property includes central air conditioning, circuit breakers, and a finished third-floor walk-up attic with 2 bedrooms and a full bath.
The building is within walking distance of the Aquarium of Niagara, Seneca Niagara Resort & Casino, Rainbow Bridge, Goat Island, shopping, restaurants, and other Niagara Falls attractions. WalkScore is 84, BikeScore is 75, and TransitScore is 46, reflecting walkable access with some transit service.
The building is within walking distance of the Aquarium of Niagara, Seneca Niagara Resort & Casino, Rainbow Bridge, Goat Island, shopping, restaurants, and other Niagara Falls attractions. WalkScore is 84, BikeScore is 75, and TransitScore is 46, reflecting walkable access with some transit service.
Key Highlights
- Approximately 2,768 square feet of office space
- Commercial professional zoning
- Located within a historic district
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
$39,147
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
9.11%
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%
$782,940
$782.9K
Cap Rate 7%
$559,243
$559.2K
Cap Rate 9%
$434,967
$435.0K
Market Conditions
NOI Build-Up for 2,768 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
$59.8K $21.60/SF
− Vacancy
−$7.6K −$2.74/SF
EGI
$52.2K $18.86/SF
− OpEx
−$13.0K −$4.71/SF
NOI
$39.1K $14.14/SF
Area
Niagara County, NY
Vacancy
12.70%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$782,940
Cap Rate 7%
$559,243
Cap Rate 9%
$434,967
Alternative Uses
Best Use
Office B
$559.2K
$489.3K – $652.5K
NOI $39,147 @ 7.0% cap · market cap 9.11%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.35M
$2.06M – $2.74M
NOI $164,637 @ 7.0% cap · market cap 38.30%
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
1,002
Businesses Nearby
Explore this area
Business Placement
Demographics for 14301, NY
12,618
Population
7,285
Households
1.7
Avg Household Size
38
Median Age
18%
College-Educated
85%
High-School Grad
2.1 sq mi
ZIP Area
6,009
Density / Sq Mi
$37,650
Median Household Income
$32,909
Median Earnings
$722
Median Rent
$79,200
Median Home Value
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Office building - Commercial professional zoning, finished attic space, and central air serve a flexible office configuration.
Where is this office building located?
The property is located at 324 Pine Ave Niagara Falls, NY.
What is the asking price?
The asking price for this property is $429,900.
What are key features of this property?
This property features: Approximately 2,768 square feet of office space; Commercial professional zoning; Located within a historic district
