Masonry Office Building with
For Sale
$284,900
2121 Sawyer Drive, Niagara Falls, NY 14304
SINGLE_FAMILY - Niagara Falls, NY
Property Size1,538 SF
Lot Size0.04 Acres
Price / SF$185.24
Days on Market115
Property Features for 2121 Sawyer Drive
General Information
Property type
Residential
Property subtype
Office
Zoning
offices
Zoning description
Business
Parking
40
Parking features
Paved or Surfaced
Subdivision
Woodstream Prof Office Co
Lot features
Rectangular, Rectangular Lot
Elementary school district
Niagara Wheatfield
Middle school district
Niagara Wheatfield
High school district
Niagara Wheatfield
Directions
Williams Rd to Sawyer Dr.
Standard status
Active
APN
294000-161-002-0010-010-000
Size
1,538 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
4907
Utilities
Heating system
Central, Forced Air, Natural Gas
Cooling system
Separate Meters, Central Air
Water source
Public
Amenities
handicap accessible
open reception area
conference room
open kitchen area
front and back entrance areas
signage
Building Details
Year built
1998
Floors in Building
1
Number of units
1
Flooring type
Linoleum, Carpet, Vinyl
Building materials
Brick, Block, Masonry
Roof type
Asphalt
Listing Agency:
Hooper Realty
(716) 285-0477
Listed By:
Michael J Hooper · License #37HO0444450
(716) 285-0477
Added: Apr 21
Changed: Aug 2
Last Checked: Aug 13 at 12:06PM
MLS# B1675337
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully masonry office building features an open reception area, five individual offices, and a conference room. The layout includes an open kitchen area plus front and back entrance areas, supporting a range of professional office uses. The property has handicap accessibility, paved or surfaced parking in both the front and back of the building, and signage located in front with visibility from the road.
Constructed in 1998, the building includes a new roof and asphalt roofing. Interior flooring is a mix of linoleum, carpet, and vinyl. Heating is provided via central and forced air systems using natural gas, and cooling is supported by central air with separate meters.
The property is served by public water, and the building’s construction materials include brick, block, and masonry. Office equipment and furnishings are negotiable, offering flexibility for an incoming tenant or buyer.
Constructed in 1998, the building includes a new roof and asphalt roofing. Interior flooring is a mix of linoleum, carpet, and vinyl. Heating is provided via central and forced air systems using natural gas, and cooling is supported by central air with separate meters.
The property is served by public water, and the building’s construction materials include brick, block, and masonry. Office equipment and furnishings are negotiable, offering flexibility for an incoming tenant or buyer.
Key Highlights
- 0.04‑acre office property with 1,538 SF of space
- Open reception area plus five individual offices and a conference room
- Fully masonry construction with new roof and asphalt roofing
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
$21,751
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
7.63%
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%
$435,020
$435.0K
Cap Rate 7%
$310,729
$310.7K
Cap Rate 9%
$241,678
$241.7K
Market Conditions
NOI Build-Up for 1,538 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
$33.2K $21.60/SF
− Vacancy
−$4.2K −$2.74/SF
EGI
$29.0K $18.86/SF
− OpEx
−$7.3K −$4.71/SF
NOI
$21.8K $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%
$435,020
Cap Rate 7%
$310,729
Cap Rate 9%
$241,678
Alternative Uses
Best Use
Office B
$310.7K
$271.9K – $362.5K
NOI $21,751 @ 7.0% cap · market cap 7.63%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$1.31M
$1.14M – $1.52M
NOI $91,478 @ 7.0% cap · market cap 32.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
415
Businesses Nearby
Explore this area
Business Placement
Demographics for 14304, NY
28,923
Population
13,705
Households
2.1
Avg Household Size
45
Median Age
25%
College-Educated
92%
High-School Grad
21.5 sq mi
ZIP Area
1,345
Density / Sq Mi
$64,756
Median Household Income
$42,613
Median Earnings
$901
Median Rent
$151,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Fully masonry office building with open reception, five offices, conference room, and central air with separate meters.
Where is this office units located?
The property is located at 2121 Sawyer Drive Niagara Falls, NY.
What is the asking price?
The asking price for this property is $284,900.
What are key features of this property?
This property features: 0.04‑acre office property with 1,538 SF of space; Open reception area plus five individual offices and a conference room; Fully masonry construction with new roof and asphalt roofing
