Two-Building Office
For Sale
$339,900
33-35 E Main Street, Fredonia, NY 14063
Downtown commercial offices with upper-level space, established occupancy, and nearby municipal and on-street parking.
Property Size4,300 SF
Days on Market347
Property Features for 33-35 E Main Street
General Information
Standard status
Active
Size
4,300 SF
Property subtype
Commercial
Zoning
464, Commercial
Taxes and HOA fees
Annual Taxes
$8,213
Building Details
Building Size
4,300 SF
Year Built
1920
Buildings
2
Stories
2
Tenancy
Multi
Owner Occupied
Yes
Listing Agency:
Howard Hanna Holt - Fredonia
(716) 673-5186
Listed By:
Anne LaPaglia · License #30LA0737178
(716) 673-5186
Source:
Homeprocny
Added: Sep 19, 2025
Changed: Aug 28
Last Checked: Aug 28 at 11:29AM
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 Holt - Fredonia
Investment Insights
Based on property information with market context.
This offering combines two commercial office buildings at 33-35 E Main Street in downtown Fredonia. Both properties include sizeable first-floor office areas and additional space above, with one existing 3-bedroom apartment on the upper level. The layout also includes potential for another apartment, subject to applicable approvals.
The buildings carry 464, Commercial zoning and date to 1920. Building improvements include a rubber roof installed in 2024, a 7-year-old boiler, and two central A/C units that have been consistently maintained. The occupancy profile includes a long-term tenant at #33, while the sellers occupy #35 and are open to a lease-back arrangement. Municipal parking is located around the corner, with on-street parking along the front and side.
The buildings carry 464, Commercial zoning and date to 1920. Building improvements include a rubber roof installed in 2024, a 7-year-old boiler, and two central A/C units that have been consistently maintained. The occupancy profile includes a long-term tenant at #33, while the sellers occupy #35 and are open to a lease-back arrangement. Municipal parking is located around the corner, with on-street parking along the front and side.
Key Highlights
- Two commercial office buildings offered together at 33‑35 E Main Street
- 464, Commercial zoning
- First‑floor offices plus additional second‑floor space in both buildings
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
$28,306
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
8.33%
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%
$566,120
$566.1K
Cap Rate 7%
$404,371
$404.4K
Cap Rate 9%
$314,511
$314.5K
Market Conditions
NOI Build-Up for 4,300 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
$52.1K $12.12/SF
− Vacancy
−$6.8K −$1.59/SF
EGI
$45.3K $10.53/SF
− OpEx
−$17.0K −$3.95/SF
NOI
$28.3K $6.58/SF
Area
Chautauqua County, NY
Vacancy
13.10%
Lease Rate
$12.12 /SF/Yr
Expense Ratio
37.50%
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%
$566,120
Cap Rate 7%
$404,371
Cap Rate 9%
$314,511
Alternative Uses
Best Use
Office B
$949.8K
$831.1K – $1.11M
NOI $66,487 @ 7.0% cap · market cap 19.56%
Second Best
Mixed Use
$404.4K
$353.8K – $471.8K
NOI $28,306 @ 7.0% cap · market cap 8.33%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,094 @ 7.0% cap · market cap 26.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
636
Businesses Nearby
Explore this area
Business Placement
Demographics for 14063, NY
13,028
Population
5,861
Households
2.2
Avg Household Size
34
Median Age
40%
College-Educated
95%
High-School Grad
50.9 sq mi
ZIP Area
256
Density / Sq Mi
$55,629
Median Household Income
$27,358
Median Earnings
$852
Median Rent
$178,500
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Downtown commercial offices with upper-level space, established occupancy, and nearby municipal and on-street parking.
Where is this office building located?
The property is located at 33-35 E Main Street Fredonia, NY.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: Two commercial office buildings offered together at 33‑35 E Main Street; 464, Commercial zoning; First‑floor offices plus additional second‑floor space in both buildings
