Remodeled Retail Building with Two
For Sale
$599,000
2354 Niagara Falls Boulevard, Tonawanda, NY 14150
Remodeled retail building with two tenant-ready suites, ample parking, and a full basement, positioned on Niagara Falls Blvd.
Property Size2,300 SF
Price / SF$260.43
Days on Market45
Property Features for 2354 Niagara Falls Boulevard
General Information
Standard status
Active
Size
2,300 SF
Total Parking Spaces
33
Property subtype
Commercial
Zoning
C, Commercial
Additional Details
Business Included
Yes
Traffic Count
30,000 vehicles/day
Office Units
2
Taxes and HOA fees
Annual Taxes
$15,999
Building Details
Building Size
2,300 SF
Year Built
1950
Buildings
2
Stories
1
Listing Agency:
HUNT Real Estate Corporation
(716) 830-4271
Listed By:
Michael A Ciminelli II
(716) 830-4271
Source:
Northstarwny
Added: Jul 11
Changed: Aug 24
Last Checked: Aug 23 at 9:31AM
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 HUNT Real Estate Corporation
Investment Insights
Based on property information with market context.
This meticulously remodeled commercial building includes two distinct retail suites totaling 2,300 square feet. The main unit is currently operating as the “House of Hair” barber shop, presented as a turn-key space with luxurious finishes and flexible options for continued use or repurposing. The second suite is currently rented as a nail salon, providing immediate income potential.
The property is located on Niagara Falls Blvd, with nearly 30,000 vehicles passing by daily for strong visibility to Tonawanda and Amherst residents. On-site parking is available for clients and staff, and the building also includes a full basement that can be used for additional storage.
Overall, the configuration supports an owner-occupant scenario for one suite while retaining the option of rental income from the other.
The property is located on Niagara Falls Blvd, with nearly 30,000 vehicles passing by daily for strong visibility to Tonawanda and Amherst residents. On-site parking is available for clients and staff, and the building also includes a full basement that can be used for additional storage.
Overall, the configuration supports an owner-occupant scenario for one suite while retaining the option of rental income from the other.
Key Highlights
- Remodeled commercial building on Niagara Falls Blvd with 2,300 SF and two suites
- Main suite is the “House of Hair” barber shop, with turn‑key interior and luxurious finishes
- Second suite is currently rented as a nail salon
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
$20,680
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
3.45%
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%
$413,600
$413.6K
Cap Rate 7%
$295,429
$295.4K
Cap Rate 9%
$229,778
$229.8K
Market Conditions
NOI Build-Up for 2,300 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
$33.1K $14.40/SF
− Vacancy
−$3.6K −$1.56/SF
EGI
$29.5K $12.84/SF
− OpEx
−$8.9K −$3.85/SF
NOI
$20.7K $8.99/SF
Area
Erie County, NY
Vacancy
10.80%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
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%
$413,600
Cap Rate 7%
$295,429
Cap Rate 9%
$229,778
Alternative Uses
Best Use
Retail
$295.4K
$258.5K – $344.7K
NOI $20,680 @ 7.0% cap · market cap 3.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$502.8K
$440.0K – $586.6K
NOI $35,196 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Office units
30,000 VPD
Traffic count
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
359
Businesses Nearby
94k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 51%
Shops & Services 47%
Hotels & Casinos 2%
Dunkin' Donuts
Dining
11,247 visits/mo
0.5 miles
Tim Hortons
Dining
11,088 visits/mo
0.3 miles
Ted's Hot Dogs
Dining
10,498 visits/mo
0.0 miles
Checkers
Dining
10,287 visits/mo
0.0 miles
Sunoco
Shops & Services
10,108 visits/mo
0.4 miles
Demographics for 14150, NY
41,161
Population
20,152
Households
2
Avg Household Size
43
Median Age
32%
College-Educated
95%
High-School Grad
14.9 sq mi
ZIP Area
2,762
Density / Sq Mi
$70,294
Median Household Income
$46,867
Median Earnings
$1,094
Median Rent
$181,900
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Remodeled retail building with two tenant-ready suites, ample parking, and a full basement, positioned on Niagara Falls Blvd.
Where is this storefront property located?
The property is located at 2354 Niagara Falls Boulevard Tonawanda, NY.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Remodeled commercial building on Niagara Falls Blvd with 2,300 SF and two suites; Main suite is the “House of Hair” barber shop, with turn‑key interior and luxurious finishes; Second suite is currently rented as a nail salon
