Mixed-Use Investment in Downtown
For Sale
$425,000
24 E 3rd Street, Jamestown, NY 14701
Mixed-use property with commercial and residential income potential.
Property Size5,346 SF
Days on Market113
Property Features for 24 E 3rd Street
General Information
Standard status
Active
Size
5,346 SF
Property subtype
Commercial
Zoning
482
Taxes and HOA fees
Annual Taxes
$5,418
Building Details
Building Size
5,346 SF
Year Built
1900
Buildings
1
Stories
3
Listing Agency:
EXP-Premier Listings Team
(716) 338-8622
Listed By:
Laura Ferraro
(716) 338-8622
Source:
Wcirealty
Added: May 4
Changed: Aug 23
Last Checked: Aug 23 at 7:39AM
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 mixed-use property is located in downtown Jamestown's business district on a corner lot. The building features a brick facade and storefront windows, offering visibility and street presence in a high-traffic location. The first and second floors contain approximately 9 private office spaces, suitable for professional, office, or service-based uses. The layout can accommodate multiple tenants or an owner-occupant seeking rental income. The third floor includes a 2-bedroom, 2-bath residential unit, fully furnished and operating as a short-term rental. The residential unit can continue as an Airbnb-style rental, create additional income, or provide on-site living. The property offers diversified revenue streams within a single asset. Its downtown location is near restaurants, local businesses, entertainment, and amenities, enhancing rental appeal and usability. The property is ideal for investors, entrepreneurs, or owner-occupants seeking a versatile mixed-use property with income-producing potential. The location has a walk score of 61, indicating it is somewhat walkable, and a bike score of 32, indicating it is somewhat bikeable.
Key Highlights
- Prime downtown location with high visibility and strong street presence
- Mixed‑use property with diversified revenue streams
- Turn‑key, fully furnished 2‑bedroom, 2‑bath residential unit operating as a successful 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
$35,191
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
8.28%
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%
$703,820
$703.8K
Cap Rate 7%
$502,729
$502.7K
Cap Rate 9%
$391,011
$391.0K
Market Conditions
NOI Build-Up for 5,346 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
$64.8K $12.12/SF
− Vacancy
−$8.5K −$1.59/SF
EGI
$56.3K $10.53/SF
− OpEx
−$21.1K −$3.95/SF
NOI
$35.2K $6.58/SF
Area
Chautauqua County, NY
Vacancy
13.10%
Lease Rate
$12.12 /SF/Yr
Expense Ratio
37.50%
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%
$703,820
Cap Rate 7%
$502,729
Cap Rate 9%
$391,011
Alternative Uses
Best Use
Mixed Use
$502.7K
$439.9K – $586.5K
NOI $35,191 @ 7.0% cap · market cap 8.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.60M
$1.40M – $1.87M
NOI $112,009 @ 7.0% cap · market cap 26.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with commercial and residential income potential.
Where is this mixed-use property located?
The property is located at 24 E 3rd Street Jamestown, NY.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Prime downtown location with high visibility and strong street presence; Mixed‑use property with diversified revenue streams; Turn‑key, fully furnished 2‑bedroom, 2‑bath residential unit operating as a successful short‑term rental
