Three-Unit Triplex with
New
For Sale
$550,000
2776 Main Street, Buffalo, NY 14214
Two lower apartments offer one-bedroom layouts, hardwood floors, and original interior detailing.
Property Size3,509 SF
Days on Market4
Property Features for 2776 Main Street
General Information
Standard status
Active
Size
3,509 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$4,851
Building Details
Building Size
3,509 SF
Year Built
1920
Listing Agency:
Howard Hanna WNY Inc.
Listed By:
Carmen Y Billups · License #10401211215
(716) 238-1365
Source:
Highfallssir
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 5 at 7:42AM
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 Howard Hanna WNY Inc.
Investment Insights
Based on property information with market context.
This 1920 triplex contains three residential units, including two lower one-bedroom apartments and a larger second-floor apartment. Hardwood flooring appears throughout the lower units, while original moldings and woodwork add period detail. The upper residence includes a fireplace, ceiling fans, French doors, an enclosed living room area, and a rear porch connected to the kitchen and a bedroom. The property is being offered as-is.
Exterior features include a two-car garage and a yard, along with a low-maintenance exterior. The upper apartment has also been used as a student rental associated with Canisius and SUNYAB. Located at 2776 Main Street in Buffalo, NY, the building provides a three-unit residential configuration with distinct interior features and on-site garage space.
Exterior features include a two-car garage and a yard, along with a low-maintenance exterior. The upper apartment has also been used as a student rental associated with Canisius and SUNYAB. Located at 2776 Main Street in Buffalo, NY, the building provides a three-unit residential configuration with distinct interior features and on-site garage space.
Key Highlights
- Three‑unit residential building constructed in 1920
- Two lower 1br apartments with hardwood floors
- Upper apartment includes a fireplace, ceiling fans, and French doors
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
$34,818
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
6.33%
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%
$696,360
$696.4K
Cap Rate 7%
$497,400
$497.4K
Cap Rate 9%
$386,867
$386.9K
Market Conditions
NOI Build-Up for 3,509 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
$52.6K $15.00/SF
− Vacancy
−$2.9K −$0.83/SF
EGI
$49.7K $14.17/SF
− OpEx
−$14.9K −$4.25/SF
NOI
$34.8K $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%
$696,360
Cap Rate 7%
$497,400
Cap Rate 9%
$386,867
Alternative Uses
Best Use
Multifamily LT 5
$497.4K
$435.2K – $580.3K
NOI $34,818 @ 7.0% cap · market cap 6.33%
Second Best
Apartment 5plus
$458.1K
$400.9K – $534.5K
NOI $32,070 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$843.8K
$738.4K – $984.5K
NOI $59,069 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
929
Businesses Nearby
Explore this area
Business Placement
Demographics for 14214, NY
20,732
Population
9,280
Households
2.2
Avg Household Size
32
Median Age
46%
College-Educated
90%
High-School Grad
3.3 sq mi
ZIP Area
6,282
Density / Sq Mi
$56,573
Median Household Income
$29,928
Median Earnings
$1,072
Median Rent
$234,600
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?
Triplex - Two lower apartments offer one-bedroom layouts, hardwood floors, and original interior detailing.
Where is this triplex located?
The property is located at 2776 Main Street Buffalo, NY.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Three‑unit residential building constructed in 1920; Two lower 1br apartments with hardwood floors; Upper apartment includes a fireplace, ceiling fans, and French doors
