7-Unit Apartment
New
For Sale
$1,100,000
282 Jersey St, Buffalo, NY 14201
All seven apartments are occupied, and a two-bay garage is leased separately.
Property Size7,105 SF
Price / SF$154.82
Days on Market6
Property Features for 282 Jersey St
General Information
Standard status
Active
Size
7,105 SF
Property subtype
Multi-Family
Building Details
Year Built
1890
Listing Agency:
WNY Metro Roberts Realty
Listed By:
David M Witczak · License #40WI1033093
(716) 602-9708
Source:
Thejoshjamesteam
Added: Sep 30
Changed: Oct 4
Last Checked: Oct 4 at 12:06PM
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.
This 7,105-square-foot apartment property contains seven units: two two-bedroom apartments, four one-bedroom apartments, and a studio. Unit sizes range from 677 to 997 square feet. A two-bay garage is leased separately from the apartments. The building underwent a full renovation around 2015–2016, with hardwood and tile flooring, granite countertops, and in-unit laundry among its features.
The property is in Buffalo’s West Side / Front Park neighborhood, within walking distance of Front Park, D’Youville, and the lower West Side.
The property is in Buffalo’s West Side / Front Park neighborhood, within walking distance of Front Park, D’Youville, and the lower West Side.
Key Highlights
- Seven apartments: two 2‑bedroom units, four 1‑bedroom units, and one studio
- All seven apartments are occupied
- 7,105 square feet; apartment sizes range from 677 to 997 square feet
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
$64,935
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
5.90%
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%
$1,298,700
$1.3M
Cap Rate 7%
$927,643
$927.6K
Cap Rate 9%
$721,500
$721.5K
Market Conditions
NOI Build-Up for 7,105 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
$123.6K $17.40/SF
− Vacancy
−$5.6K −$0.78/SF
EGI
$118.1K $16.62/SF
− OpEx
−$53.1K −$7.48/SF
NOI
$64.9K $9.14/SF
Area
Buffalo, NY
Vacancy
4.50%
Lease Rate
$17.40 /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%
$1,298,700
Cap Rate 7%
$927,643
Cap Rate 9%
$721,500
Alternative Uses
Best Use
Apartment 5plus
$927.6K
$811.7K – $1.08M
NOI $64,935 @ 7.0% cap · market cap 5.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.50M – $1.99M
NOI $119,603 @ 7.0% cap · market cap 10.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,477
Businesses Nearby
Explore this area
Business Placement
Demographics for 14201, NY
12,364
Population
7,172
Households
1.7
Avg Household Size
33
Median Age
39%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
11,240
Density / Sq Mi
$34,204
Median Household Income
$34,081
Median Earnings
$953
Median Rent
$327,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - All seven apartments are occupied, and a two-bay garage is leased separately.
Where is this apartment building located?
The property is located at 282 Jersey St Buffalo, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Seven apartments: two 2‑bedroom units, four 1‑bedroom units, and one studio; All seven apartments are occupied; 7,105 square feet; apartment sizes range from 677 to 997 square feet
