Three-Story Mixed-Use
For Sale
$399,900
14 3rd Street, Jamestown, NY 14701
Row-style brick building with a storefront and two furnished short-term rental units.
Property Size4,860 SF
Price / SF$82.28
Days on Market175
Property Features for 14 3rd Street
General Information
Standard status
Active
Size
4,860 SF
Property subtype
Office
Additional Details
Furnished
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$7,154
Amenities
Gas, A/C - Other
3
Other
Membrane, Rubber
481
Rectangular
20X80
Rectangular.
Building Details
Year Built
1908
Stories
3
Listing Agency:
EXP-Premier Listings Team
(716) 338-8622
Listed By:
Laura Ferraro
(716) 338-8622
Source:
Xome
Added: Feb 17
Changed: Aug 8
Last Checked: Aug 11 at 4:55AM
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 EXP-Premier Listings Team
Investment Insights
Based on property information with market context.
This three-story, row-style mixed-use building features a classic brick façade with large windows and strong street presence. The first floor includes a storefront commercial space suitable for retail, office, boutique, or service-based use. The second and third floors each contain furnished residential units that are currently operating as active short-term rentals.
The second-floor unit offers two bedrooms and two full bathrooms, while the third-floor unit offers two bedrooms and one full bathroom. The property is located in downtown Jamestown in a highly walkable, high-visibility area, just steps from the National Comedy Center. It is also surrounded by restaurants, shops, entertainment, and local businesses, with convenient proximity to Chautauqua Lake.
With commercial space on the ground level and two income-producing residential units under one roof, the building provides diversified rental potential in a central downtown setting.
The second-floor unit offers two bedrooms and two full bathrooms, while the third-floor unit offers two bedrooms and one full bathroom. The property is located in downtown Jamestown in a highly walkable, high-visibility area, just steps from the National Comedy Center. It is also surrounded by restaurants, shops, entertainment, and local businesses, with convenient proximity to Chautauqua Lake.
With commercial space on the ground level and two income-producing residential units under one roof, the building provides diversified rental potential in a central downtown setting.
Key Highlights
- 3‑story row‑style brick mixed‑use building with a storefront on the first floor and residential units on the 2nd and 3rd floors
- Second‑floor furnished unit: 2 bedrooms and 2 full baths (active short‑term rental)
- Third‑floor furnished unit: 2 bedrooms and 1 full bath (active short‑term rental)
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
$36,794
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
9.20%
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%
$735,880
$735.9K
Cap Rate 7%
$525,629
$525.6K
Cap Rate 9%
$408,822
$408.8K
Market Conditions
NOI Build-Up for 4,860 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
$77.0K $15.84/SF
− Vacancy
−$10.1K −$2.08/SF
EGI
$66.9K $13.76/SF
− OpEx
−$30.1K −$6.19/SF
NOI
$36.8K $7.57/SF
Area
Chautauqua County, NY
Vacancy
13.10%
Lease Rate
$15.84 /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%
$735,880
Cap Rate 7%
$525,629
Cap Rate 9%
$408,822
Alternative Uses
Best Use
Retail
$852.1K
$745.6K – $994.1K
NOI $59,644 @ 7.0% cap · market cap 14.91%
Second Best
Apartment 5plus
$525.6K
$459.9K – $613.2K
NOI $36,794 @ 7.0% cap · market cap 9.20%
Theoretical Best
Office A
$1.45M
$1.27M – $1.70M
NOI $101,827 @ 7.0% cap · market cap 25.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,759
Businesses Nearby
Explore this area
Business Placement
Demographics for 14701, NY
38,428
Population
19,469
Households
2
Avg Household Size
42
Median Age
25%
College-Educated
90%
High-School Grad
92.6 sq mi
ZIP Area
415
Density / Sq Mi
$50,909
Median Household Income
$34,592
Median Earnings
$769
Median Rent
$98,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Row-style brick building with a storefront and two furnished short-term rental units.
Where is this short term rental property located?
The property is located at 14 3rd Street Jamestown, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 3‑story row‑style brick mixed‑use building with a storefront on the first floor and residential units on the 2nd and 3rd floors; Second‑floor furnished unit: 2 bedrooms and 2 full baths (active short‑term rental); Third‑floor furnished unit: 2 bedrooms and 1 full bath (active short‑term rental)
