Brick 8-Unit Apartment
For Sale
Contact for pricing
1935 Hertel Avenue, Buffalo, NY 14214
Eight-unit multifamily property with off-street parking along the Hertel Avenue corridor.
Property Size8,442 SF
Price / SF$144.81
Days on Market180
Property Features for 1935 Hertel Avenue
General Information
Standard status
Active
Size
8,442 SF
Class
B
Property subtype
Multifamily
Occupancy
88%
Investment Type
Stabilized
Net Operating Income
$95,960
Additional Details
Cap Rate
7.11%
Multifamily Units
8
Building Details
Year Built
1970
Year Renovated
2025
Buildings
1
Units
8
Construction
brick
Listing Agency:
Santa Maria Development
Listed By:
Mike Santa Maria · License #10491211920
Source:
Crexi
Added: Apr 24
Changed: Oct 15
Last Checked: Oct 19 at 6:18AM
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 Santa Maria Development
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 8-unit apartment building contains 8,442 square feet and was constructed in 1970. The brick multifamily property includes off-street parking, a practical feature for residents in an established urban setting.
Located at 1935 Hertel Avenue in Buffalo, NY, the property sits along the Hertel Avenue corridor. The asset is presented as stabilized and carries a reported 7.11% cap rate.
Located at 1935 Hertel Avenue in Buffalo, NY, the property sits along the Hertel Avenue corridor. The asset is presented as stabilized and carries a reported 7.11% cap rate.
Key Highlights
- 8‑unit apartment building with 8,442 square feet
- Brick construction, built in 1970
- Off‑street parking included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,154
Cap Rate
6.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,543,080
$1.5M
Cap Rate 7%
$1,102,200
$1.1M
Cap Rate 9%
$857,267
$857.3K
Market Conditions
NOI Build-Up for 8,442 SF
Gross rent
$146.9K $17.40/SF
− Vacancy
−$6.6K −$0.78/SF
EGI
$140.3K $16.62/SF
− OpEx
−$63.1K −$7.48/SF
NOI
$77.2K $9.14/SF
Area
Buffalo, NY
Vacancy
4.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,543,080
Cap Rate 7%
$1,102,200
Cap Rate 9%
$857,267
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$964.4K – $1.29M
NOI $77,154 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,109 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
738
Businesses Nearby
Explore this area
Business Placement
Demographics for 14214, NY
20,732
Population
9,280
Households
2.2
Avg Household Size
32
Median Age
46%
College-Educated
90%
High-School Grad
3.3 sq mi
ZIP Area
6,282
Density / Sq Mi
$56,573
Median Household Income
$29,928
Median Earnings
$1,072
Median Rent
$234,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Eight-unit multifamily property with off-street parking along the Hertel Avenue corridor.
Where is this apartment building located?
The property is located at 1935 Hertel Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $1,222,500.
What are key features of this property?
This property features: 8‑unit apartment building with 8,442 square feet; Brick construction, built in 1970; Off‑street parking included
