Duplex with Detached
New
For Sale
$399,900
272 Commonwealth Ave, Buffalo, NY 14216
Two separate residences provide distinct living spaces, with a private driveway and detached garage on site.
Property Size2,954 SF
Price / SF$135.38
Days on Market2
Property Features for 272 Commonwealth Ave
General Information
Standard status
Active
Size
2,954 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1920
Buildings
1
Listing Agency:
WNY Metro Roberts Realty
Listed By:
Alicia Wittman · License #10301219240
(716) 239-9001
Source:
Thejoshjamesteam
Added: Sep 24
Last Checked: Sep 24 at 2:35PM
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.
Built in 1920, this duplex contains two residences: a 1,585-square-foot lower unit and a 1,369-square-foot upper unit. The upper residence also has access to a 209-square-foot open porch. A detached 520-square-foot, two-car garage and a private driveway are additional site features; the driveway was updated in 2018.
The property is on Commonwealth Avenue in Buffalo. Nearby destinations named for the area include the North Buffalo Ice Rink, neighborhood parks, and the dining, coffee shops, and retail along Hertel Avenue.
The property is on Commonwealth Avenue in Buffalo. Nearby destinations named for the area include the North Buffalo Ice Rink, neighborhood parks, and the dining, coffee shops, and retail along Hertel Avenue.
Key Highlights
- 1920‑built duplex with 1,585‑square‑foot lower unit and 1,369‑square‑foot upper unit
- Upper residence includes access to a 209‑square‑foot open porch
- Detached 520‑square‑foot, two‑car garage
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
$29,311
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
7.33%
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%
$586,220
$586.2K
Cap Rate 7%
$418,729
$418.7K
Cap Rate 9%
$325,678
$325.7K
Market Conditions
NOI Build-Up for 2,954 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
$44.3K $15.00/SF
− Vacancy
−$2.4K −$0.83/SF
EGI
$41.9K $14.17/SF
− OpEx
−$12.6K −$4.25/SF
NOI
$29.3K $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%
$586,220
Cap Rate 7%
$418,729
Cap Rate 9%
$325,678
Alternative Uses
Best Use
Multifamily LT 5
$418.7K
$366.4K – $488.5K
NOI $29,311 @ 7.0% cap · market cap 7.33%
Second Best
Apartment 5plus
$385.7K
$337.5K – $450.0K
NOI $26,998 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$710.4K
$621.6K – $828.8K
NOI $49,726 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,224
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences provide distinct living spaces, with a private driveway and detached garage on site.
Where is this duplex located?
The property is located at 272 Commonwealth Ave Buffalo, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: 1920‑built duplex with 1,585‑square‑foot lower unit and 1,369‑square‑foot upper unit; Upper residence includes access to a 209‑square‑foot open porch; Detached 520‑square‑foot, two‑car garage
