Tonawanda Multifamily Property for
For Sale
$289,000
Pending
32 E Hazeltine Ave, Tonawanda, NY 14217
Multifamily property available in Tonawanda, NY.
Property Size2,288 SF
Lot Size0.10 Acres
Days on Market270
Property Features for 32 E Hazeltine Ave
General Information
Standard status
Pending
Size
2,288 SF
Lot size
0.10 Acres
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$6,218
Building Details
Building Size
2,288 SF
Year Built
1920
Stories
2
Units
2
Listing Agency:
OwnerEntry.com
(617) 542-9300
Listed By:
David White · License #SBR005629
(617) 542-9300
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 24
Last Checked: Aug 24 at 10:00AM
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 OwnerEntry.com
Investment Insights
Based on property information with market context.
A multifamily property is available for sale. The property is located in Tonawanda, NY.
Key Highlights
- Multifamily property in a desirable location.
- Located in Tonawanda, NY, offering convenient access to local amenities.
- Built in 1920, presenting an opportunity for renovation or restoration.
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
$13,210
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
4.57%
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%
$264,200
$264.2K
Cap Rate 7%
$188,714
$188.7K
Cap Rate 9%
$146,778
$146.8K
Market Conditions
NOI Build-Up for 2,288 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
$37.1K $16.20/SF
− Vacancy
−$13.0K −$5.70/SF
EGI
$24.0K $10.50/SF
− OpEx
−$10.8K −$4.72/SF
NOI
$13.2K $5.77/SF
Area
Erie County, NY
Vacancy
35.20%
Lease Rate
$16.20 /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%
$264,200
Cap Rate 7%
$188,714
Cap Rate 9%
$146,778
Alternative Uses
Best Use
Apartment 5plus
$188.7K
$165.1K – $220.2K
NOI $13,210 @ 7.0% cap · market cap 4.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$500.2K
$437.7K – $583.5K
NOI $35,012 @ 7.0% cap · market cap 12.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,240
Businesses Nearby
Explore this area
Business Placement
Demographics for 14217, NY
23,085
Population
11,280
Households
2
Avg Household Size
41
Median Age
41%
College-Educated
95%
High-School Grad
3.2 sq mi
ZIP Area
7,214
Density / Sq Mi
$72,205
Median Household Income
$51,075
Median Earnings
$970
Median Rent
$193,200
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 - Multifamily property available in Tonawanda, NY.
Where is this multifamily property located?
The property is located at 32 E Hazeltine Ave Tonawanda, NY.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: Multifamily property in a desirable location.; Located in Tonawanda, NY, offering convenient access to local amenities.; Built in 1920, presenting an opportunity for renovation or restoration.
