Three-Story Mixed-Use Brick
New
For Sale
$999,900
33 Church Street, Fredonia, NY 14063
Historic commercial building with elevator access, multiple office suites, and existing occupancy across three levels.
Property Size11,273 SF
Price / SF$88.70
Days on Market2
Property Features for 33 Church Street
General Information
Standard status
Active
Size
11,273 SF
Total Parking Spaces
30
Elevators
Yes
Zoning
C-1
Additional Details
Highway Access
Yes
Amenities
elevator
hardwood floors
woodwork
kitchenette
loft
conference room
audio/video cameras
Building Details
Buildings
2
Stories
3
Construction
brick
Tenancy
Multi
Listing Agency:
Howard Hanna Holt - Fredonia
(716) 673-1800
Listed By:
Anne LaPaglia · License #30LA0737178
(716) 673-5186
Source:
Nicholcityrealty
Added: Sep 18
Last Checked: Sep 18 at 3:17PM
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 mixed-use property comprises a historic three-story brick building with elevator service and a separate deli building, totaling 11,273 square feet of commercial space. Four businesses currently occupy the property. The first floor contains a salon and spa, while the second floor includes four private offices, a conference room or executive office, and additional professional space. The third floor features original hardwood floors and woodwork, eight offices, a spare room, kitchenette, and loft. The property is located in the C-1 General Business District.
Parking includes street spaces and an approximately 30-space lot across the street on Center Street. The building also has audio and video cameras on site.
Parking includes street spaces and an approximately 30-space lot across the street on Center Street. The building also has audio and video cameras on site.
Key Highlights
- 11,273 square feet of commercial space across a three‑story brick building and separate deli building
- Four businesses currently occupy the property
- Elevator serves the three‑story main building
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
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Open Analytics
Current Use
Lease Details
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Historic commercial building with elevator access, multiple office suites, and existing occupancy across three levels.
Where is this mixed-use property located?
The property is located at 33 Church Street 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: 11,273 square feet of commercial space across a three‑story brick building and separate deli building; Four businesses currently occupy the property; Elevator serves the three‑story main building
