Vacant Multifamily
For Sale
$169,999
31 Woltz Ave, Buffalo, NY 14212
Two-story residential income property offered with an additional plot of land and delivered vacant.
Property Size1,280 SF
Price / SF$132.81
Days on Market44
Property Features for 31 Woltz Ave
General Information
Standard status
Active
Size
1,280 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Towne Housing Real Estate
Listed By:
Mahbubul Haq · License #10401380010
(718) 825-1380
Source:
Thejoshjamesteam
Added: Jul 22
Changed: Aug 31
Last Checked: Sep 1 at 11:02PM
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 Towne Housing Real Estate
Investment Insights
Based on property information with market context.
This multifamily property at 31 Woltz Ave in Buffalo, New York, contains 1,280 square feet and was built in 1900. The home is currently vacant and will be conveyed in its present condition.
An additional plot of land is included with the property. The asset is located in Buffalo’s 14212 ZIP code.
An additional plot of land is included with the property. The asset is located in Buffalo’s 14212 ZIP code.
Key Highlights
- 1,280‑square‑foot multifamily property
- Built in 1900
- Currently vacant
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
$11,698
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
6.88%
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%
$233,960
$234.0K
Cap Rate 7%
$167,114
$167.1K
Cap Rate 9%
$129,978
$130.0K
Market Conditions
NOI Build-Up for 1,280 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
$22.3K $17.40/SF
− Vacancy
−$1.0K −$0.78/SF
EGI
$21.3K $16.62/SF
− OpEx
−$9.6K −$7.48/SF
NOI
$11.7K $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%
$233,960
Cap Rate 7%
$167,114
Cap Rate 9%
$129,978
Alternative Uses
Best Use
Apartment 5plus
$167.1K
$146.2K – $195.0K
NOI $11,698 @ 7.0% cap · market cap 6.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$307.8K
$269.3K – $359.1K
NOI $21,547 @ 7.0% cap · market cap 12.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
724
Businesses Nearby
Explore this area
Business Placement
Demographics for 14212, NY
13,533
Population
5,935
Households
2.3
Avg Household Size
32
Median Age
11%
College-Educated
76%
High-School Grad
2.1 sq mi
ZIP Area
6,444
Density / Sq Mi
$35,517
Median Household Income
$26,545
Median Earnings
$829
Median Rent
$89,900
Median Home Value
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?
Multifamily property - Two-story residential income property offered with an additional plot of land and delivered vacant.
Where is this multifamily property located?
The property is located at 31 Woltz Ave Buffalo, NY.
What is the asking price?
The asking price for this property is $169,999.
What are key features of this property?
This property features: 1,280‑square‑foot multifamily property; Built in 1900; Currently vacant
