3-Unit Multifamily
For Sale
$380,000
269 Sterling Ave, Buffalo, NY 14216
Residential units are complemented by off-street parking and a detached two-car garage.
Property Size2,968 SF
Price / SF$128.03
Days on Market34
Property Features for 269 Sterling Ave
General Information
Standard status
Active
Size
2,968 SF
Property subtype
Multi-Family
Additional Details
Road Access
Yes
Multifamily Units
3
Building Details
Year Built
1925
Buildings
1
Listing Agency:
WNY Metro Roberts Realty
(716) 602-9708
Listed By:
David M Witczak · License #40WI1033093
Source:
Thejoshjamesteam
Added: Jul 29
Changed: Aug 30
Last Checked: Aug 25 at 5:41AM
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 WNY Metro Roberts Realty
Investment Insights
Based on property information with market context.
Located at 269 Sterling Ave in Buffalo, this 3-unit multifamily property contains approximately 2,968 square feet of living space. Built in 1925, the building offers three residential units with individual layouts and natural light. Off-street parking and a two-car garage add practical utility for residents.
The property is in North Buffalo near Hertel Avenue, with nearby shops, restaurants, parks, and everyday amenities. Its configuration supports continued multifamily use and provides a separate garage component alongside the residential space.
The property is in North Buffalo near Hertel Avenue, with nearby shops, restaurants, parks, and everyday amenities. Its configuration supports continued multifamily use and provides a separate garage component alongside the residential space.
Key Highlights
- Three‑unit multifamily building with approximately 2,968 square feet of living space
- Built in 1925
- Off‑street parking included
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
$29,450
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
7.75%
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%
$589,000
$589.0K
Cap Rate 7%
$420,714
$420.7K
Cap Rate 9%
$327,222
$327.2K
Market Conditions
NOI Build-Up for 2,968 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
$44.5K $15.00/SF
− Vacancy
−$2.4K −$0.83/SF
EGI
$42.1K $14.17/SF
− OpEx
−$12.6K −$4.25/SF
NOI
$29.4K $9.92/SF
Area
Buffalo, NY
Vacancy
5.50%
Lease Rate
$15.00 /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%
$589,000
Cap Rate 7%
$420,714
Cap Rate 9%
$327,222
Alternative Uses
Best Use
Multifamily LT 5
$420.7K
$368.1K – $490.8K
NOI $29,450 @ 7.0% cap · market cap 7.75%
Second Best
Apartment 5plus
$387.5K
$339.1K – $452.1K
NOI $27,126 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$713.7K
$624.5K – $832.7K
NOI $49,962 @ 7.0% cap · market cap 13.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
855
Businesses Nearby
Explore this area
Business Placement
Demographics for 14216, NY
22,979
Population
12,773
Households
1.8
Avg Household Size
37
Median Age
54%
College-Educated
94%
High-School Grad
2.8 sq mi
ZIP Area
8,207
Density / Sq Mi
$70,260
Median Household Income
$47,823
Median Earnings
$1,152
Median Rent
$260,700
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?
Triplex - Residential units are complemented by off-street parking and a detached two-car garage.
Where is this triplex located?
The property is located at 269 Sterling Ave Buffalo, NY.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Three‑unit multifamily building with approximately 2,968 square feet of living space; Built in 1925; Off‑street parking included
