Mixed-Use Property with Commercial
For Sale
$549,900
38-42 West Main Street, Brocton, NY 14716
Three-building asset combines leased and available commercial space with apartments and separate utilities.
Property Size6,240 SF
Price / SF$88.13
Days on Market450
Property Features for 38-42 West Main Street
General Information
Standard status
Active
Size
6,240 SF
Property subtype
Multi Family / Other
Units
Unit Mix
2 x 2BR, 1 x 3BR
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$14,545
Amenities
Two
Gas, Baseboard, Forced Air
Gas Oven, Gas Range, Gas Water Heater, Refrigerator
Yes
6240.0
No
Carpet, Luxury Vinyl, Varies
Ceiling Fans, Storage
Full
3
Asphalt, Flat
See Remarks
Storage Facilities
Brick, Block, Concrete, Vinyl Siding
Building Details
Year Built
1948
Buildings
3
Stories
2
Listing Agency:
Premier Realty & Investments
(716) 679-7653
Listed By:
Michael Heald · License #10401346664
(716) 679-7653
Source:
Compass
Added: Jun 8, 2025
Changed: Aug 30
Last Checked: Aug 30 at 6:09PM
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 Premier Realty & Investments
Investment Insights
Based on property information with market context.
This mixed-use property comprises three buildings at 38, 40, and 42 West Main Street, totaling 6,240 square feet. The layout includes four commercial spaces, with three currently leased and one available for occupancy, along with three residential units. The apartments consist of two two-bedroom units and one three-bedroom unit, each served by separate utilities.
Built in 1948, the property features brick, block, concrete, and vinyl siding exteriors, with asphalt and flat roofing. Interior finishes include carpet and luxury vinyl flooring, while storage areas and ceiling fans are also present. Heating includes gas, baseboard, and forced-air systems. Street and municipal parking serve the property, and the address places the buildings within the village business area described in the listing.
Built in 1948, the property features brick, block, concrete, and vinyl siding exteriors, with asphalt and flat roofing. Interior finishes include carpet and luxury vinyl flooring, while storage areas and ceiling fans are also present. Heating includes gas, baseboard, and forced-air systems. Street and municipal parking serve the property, and the address places the buildings within the village business area described in the listing.
Key Highlights
- 6,240 SF across three buildings at 38, 40, and 42 West Main Street
- Four commercial spaces, including three leased spaces and one vacant space
- Three apartments: two 2‑bedroom units and one 3‑bedroom unit
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
$47,241
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
8.59%
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%
$944,820
$944.8K
Cap Rate 7%
$674,871
$674.9K
Cap Rate 9%
$524,900
$524.9K
Market Conditions
NOI Build-Up for 6,240 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
$98.8K $15.84/SF
− Vacancy
−$12.9K −$2.08/SF
EGI
$85.9K $13.76/SF
− OpEx
−$38.7K −$6.19/SF
NOI
$47.2K $7.57/SF
Area
Chautauqua County, NY
Vacancy
13.10%
Lease Rate
$15.84 /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%
$944,820
Cap Rate 7%
$674,871
Cap Rate 9%
$524,900
Alternative Uses
Best Use
Retail
$1.09M
$957.3K – $1.28M
NOI $76,580 @ 7.0% cap · market cap 13.93%
Second Best
Apartment 5plus
$674.9K
$590.5K – $787.4K
NOI $47,241 @ 7.0% cap · market cap 8.59%
Theoretical Best
Office A
$1.87M
$1.63M – $2.18M
NOI $130,740 @ 7.0% cap · market cap 23.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
88
Businesses Nearby
Explore this area
Business Placement
Demographics for 14716, NY
2,638
Population
826
Households
3.2
Avg Household Size
38
Median Age
19%
College-Educated
78%
High-School Grad
11.8 sq mi
ZIP Area
224
Density / Sq Mi
$54,697
Median Household Income
$30,647
Median Earnings
$760
Median Rent
$107,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-building asset combines leased and available commercial space with apartments and separate utilities.
Where is this mixed-use property located?
The property is located at 38-42 West Main Street Brocton, NY.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: 6,240 SF across three buildings at 38, 40, and 42 West Main Street; Four commercial spaces, including three leased spaces and one vacant space; Three apartments: two 2‑bedroom units and one 3‑bedroom unit
