174 Mariner Street, Buffalo, NY 14201
Well-maintained triplex with historic interior details and updated systems, currently producing annual rental income with extended leases.
- Added:
- Jun 16, 2026
- Days on Market:
- 7
- Last Refresh:
- Jun 20 at 2:17 am
Property Features for 174 Mariner Street
General Information
- Standard status
- Active
- Size
- 3,392 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1880
Listing agent Michael Concialdi License #10401396635
Listing office MJ Peterson Real Estate
Listing date Jun 16, 2026
Source Crexi
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 MJ Peterson Real Estate
HighLights
- Three‑unit triplex built in 1880, currently generating $54,900 in annual rental income
- Two leases extended through 2027
- Improvements include roof, exterior, electrical, plumbing, and mechanical updates
- Original historic interior details include ornate fireplaces and inlay hardwood floors
- Historic bathroom features include clawfoot tubs
- Location described as steps from Allentown restaurants, boutiques, nightlife, Buffalo Medical Campus, and downtown Buffalo
Overview
Located in Buffalo’s Allentown neighborhood, the home is described as being just steps from local restaurants, boutiques, nightlife, the Buffalo Medical Campus, and downtown Buffalo. The property’s unit mix includes two leases extended through 2027 and a third unit that provides flexibility for an owner-occupant or future rental use.
For buyers seeking an income-producing multifamily property in a distinctive, well-cared-for historic residence, this offering combines multiple system updates with maintained period features. With two current leases extending through 2027 and reported annual rental income of $54,900, the triplex is positioned for continuity while still allowing room to adjust the third unit for future strategy.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.9k | $15.00 |
| − Vacancy | −$2.8k | −$0.83 |
| EGI | $48.1k | $14.17 |
| − OpEx | −$14.4k | −$4.25 |
| NOI | $33.7k | $9.92 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Buffalo
- County
- Erie
- State
- New York
- Longitude
- -78.8783879
- Latitude
- 42.9016391
