Four-Unit Mixed-Use
For Sale
$390,000
Pending
2445 William St, Cheektowaga, NY 14206
Property combines a showroom storefront with residential units, a partially fenced yard, and a 2.5-car garage.
Property Size6,042 SF
Days on Market126
Property Features for 2445 William St
General Information
Standard status
Pending
Size
6,042 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$6,681
Building Details
Building Size
6,042 SF
Year Built
1900
Stories
2
Units
4
Listing Agency:
Boulevard Real Estate WNY
(716) 310-1695
Listed By:
Kevin D Koszuta
(716) 310-1695
Source:
Elliman
Added: Apr 28
Changed: Aug 31
Last Checked: Aug 31 at 3:43PM
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 Boulevard Real Estate WNY
Investment Insights
Based on property information with market context.
Built in 1900, this mixed-use property includes a storefront being updated for showroom use along with four residential units. The commercial space has a half-bath, two additional rooms, and basement access. Residential layouts include eat-in kitchens, dining or eating areas, two-bedroom configurations, living rooms, laundry areas, and loft space. Unit two features hardwood flooring, while unit three includes an electric cooktop, wall oven, refrigerator, utility room, storage, and laundry. Some windows have been replaced with newer vinyl units.
Exterior features include a partially fenced yard and a 2.5-car garage. The property is rated 56 for walkability, 55 for bikeability, and 25 for transit access.
Exterior features include a partially fenced yard and a 2.5-car garage. The property is rated 56 for walkability, 55 for bikeability, and 25 for transit access.
Key Highlights
- Four‑unit mixed‑use property with a storefront and residential accommodations
- Storefront is being updated for showroom use and includes a half‑bath
- Residential layouts include two‑bedroom units, kitchens, living areas, and laundry spaces
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
$34,885
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
8.94%
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%
$697,700
$697.7K
Cap Rate 7%
$498,357
$498.4K
Cap Rate 9%
$387,611
$387.6K
Market Conditions
NOI Build-Up for 6,042 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
$97.9K $16.20/SF
− Vacancy
−$34.5K −$5.70/SF
EGI
$63.4K $10.50/SF
− OpEx
−$28.5K −$4.72/SF
NOI
$34.9K $5.77/SF
Area
Erie County, NY
Vacancy
35.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$697,700
Cap Rate 7%
$498,357
Cap Rate 9%
$387,611
Alternative Uses
Best Use
Mixed Use
$810.8K
$709.5K – $946.0K
NOI $56,757 @ 7.0% cap · market cap 14.55%
Second Best
Retail
$776.1K
$679.1K – $905.4K
NOI $54,326 @ 7.0% cap · market cap 13.93%
Theoretical Best
Office A
$1.32M
$1.16M – $1.54M
NOI $92,457 @ 7.0% cap · market cap 23.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
Explore this area
Business Placement
Demographics for 14206, NY
21,706
Population
10,677
Households
2
Avg Household Size
38
Median Age
18%
College-Educated
87%
High-School Grad
5.0 sq mi
ZIP Area
4,341
Density / Sq Mi
$46,842
Median Household Income
$38,379
Median Earnings
$886
Median Rent
$111,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Property combines a showroom storefront with residential units, a partially fenced yard, and a 2.5-car garage.
Where is this mixed-use property located?
The property is located at 2445 William St Cheektowaga, NY.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Four‑unit mixed‑use property with a storefront and residential accommodations; Storefront is being updated for showroom use and includes a half‑bath; Residential layouts include two‑bedroom units, kitchens, living areas, and laundry spaces
