Brick Triplex with
New
For Sale
$380,000
269 Sterling Avenue, Buffalo, NY 14216
MULTI_FAMILY - Other - Buffalo, NY
Property Size2,968 SF
Lot Size0.11 Acres
Price / SF$128.03
Days on Market1
Property Features for 269 Sterling Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 4, Basement, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 5, Bathroom 1, Bedroom 3
Parking features
Garage
Patio and Porch features
Deck
Exterior features
Deck
Appliances
GasWaterHeater
Lot features
Near Public Transit, Rectangular, Rectangular Lot, Residential Lot
Elementary school district
Buffalo
Middle school district
Buffalo
High school district
Buffalo
Directions
Tacoma to Sterling
Subdivision
Buffalo City-140200
Standard status
Active
APN
140200-078-580-0002-018-000
Size
2,968 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
3439
Utilities
Heating system
Baseboard, Natural Gas
Water source
Public
Building Details
Year built
1925
Floors in Building
2
Number of units
3
Flooring type
Varies, Tile, Hardwood
Building materials
Brick, Frame
Roof type
Asphalt
Architectural style
Other
Listing Agency:
WNY Metro Roberts Realty
(716) 891-1710
Listed By:
David M Witczak · License #40WI1033093
(716) 891-1710
Added: Aug 11
Last Checked: Aug 11 at 10:06PM
MLS# B1706354
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 1925-built triplex contains approximately 2,968 square feet across three residential units. The building combines brick and frame construction with varied flooring that includes hardwood and tile. Interior features include a basement, while a deck extends the usable outdoor area. Baseboard heating, natural gas service, a gas water heater, public water, and an asphalt roof are also in place.
Located at 269 Sterling Avenue in Buffalo, the property includes off-street parking and a two-car garage. The North Buffalo setting places the building near Hertel Avenue shops, restaurants, parks, and everyday amenities. The lot measures 0.1053 acres, providing a compact multifamily footprint with established on-site improvements.
Located at 269 Sterling Avenue in Buffalo, the property includes off-street parking and a two-car garage. The North Buffalo setting places the building near Hertel Avenue shops, restaurants, parks, and everyday amenities. The lot measures 0.1053 acres, providing a compact multifamily footprint with established on-site improvements.
Key Highlights
- Three‑unit multifamily building with approximately 2,968 square feet
- Built in 1925 with brick and frame construction
- Two‑car garage plus off‑street parking
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
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 - Three residential units feature off-street parking, a deck, and a two-car garage.
Where is this triplex located?
The property is located at 269 Sterling Avenue 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; Built in 1925 with brick and frame construction; Two‑car garage plus off‑street parking
