Three-Story Mixed-Use
For Sale
$999,900
33 CHURCH ST, Fredonia, NY 14063
Historic brick construction with elevator access, office suites, salon and spa space, and a separate deli building.
Property Size11,273 SF
Price / SF$88.70
Days on Market38
Property Features for 33 CHURCH ST
General Information
Standard status
Active
Size
11,273 SF
Total Parking Spaces
30
Elevators
Yes
Property subtype
General Commercial
Zoning
C-1
Additional Details
Highway Access
Yes
Office Units
4
Taxes and HOA fees
Annual Taxes
$18,596
Amenities
audio/video cameras
Gas
3
Brick
Shingle
30 Parking Spaces.
Rectangular
100X76
Rectangular.
Building Details
Year Built
1900
Buildings
2
Construction
brick
Tenancy
Multi
Listing Agency:
Fredonia
(716) 673-5186
Listed By:
Howard Hanna Holt · License #30LA0737178
(716) 673-5186
Source:
Xome
Added: Jul 24
Changed: Aug 29
Last Checked: Aug 23 at 2:17AM
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 Fredonia
Investment Insights
Based on property information with market context.
This mixed-use commercial property includes a three-story brick building constructed in 1900, elevator access, and a separate deli building. The improvements provide more than 11,000 square feet of commercial space and are currently leased to four businesses. Interior features include a salon and spa on the first floor, four private offices and a conference room on the second, and eight offices, a kitchenette, loft, and original hardwood floors on the third floor.
The property is located in downtown Fredonia at 33 Church Street, with proximity to SUNY Fredonia, Brooks Hospital, and the NYS Thruway. Street parking is supplemented by an approximately 30-space lot across the street on Center Street. Audio and video cameras are installed on site.
The property is located in downtown Fredonia at 33 Church Street, with proximity to SUNY Fredonia, Brooks Hospital, and the NYS Thruway. Street parking is supplemented by an approximately 30-space lot across the street on Center Street. Audio and video cameras are installed on site.
Key Highlights
- More than 11,000 square feet of commercial space across a three‑story brick building and separate deli building
- Constructed in 1900 with elevator access, original hardwood floors, and woodwork
- Currently leased to four businesses, including a salon and spa
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
$74,206
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
7.42%
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%
$1,484,120
$1.5M
Cap Rate 7%
$1,060,086
$1.1M
Cap Rate 9%
$824,511
$824.5K
Market Conditions
NOI Build-Up for 11,273 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
$136.6K $12.12/SF
− Vacancy
−$17.9K −$1.59/SF
EGI
$118.7K $10.53/SF
− OpEx
−$44.5K −$3.95/SF
NOI
$74.2K $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%
$1,484,120
Cap Rate 7%
$1,060,086
Cap Rate 9%
$824,511
Alternative Uses
Best Use
Office B
$2.49M
$2.18M – $2.91M
NOI $174,303 @ 7.0% cap · market cap 17.43%
Second Best
Mixed Use
$1.06M
$927.6K – $1.24M
NOI $74,206 @ 7.0% cap · market cap 7.42%
Theoretical Best
Office A
$3.37M
$2.95M – $3.94M
NOI $236,192 @ 7.0% cap · market cap 23.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Multi-tenant
Tenancy
Yes
Highway access
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?
Mixed-use property - Historic brick construction with elevator access, office suites, salon and spa space, and a separate deli building.
Where is this mixed-use property located?
The property is located at 33 CHURCH ST Fredonia, NY.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: More than 11,000 square feet of commercial space across a three‑story brick building and separate deli building; Constructed in 1900 with elevator access, original hardwood floors, and woodwork; Currently leased to four businesses, including a salon and spa
