Low-Rise Multifamily
For Sale
$365,000
39 Clinton Avenue, Fredonia, NY 14063
Low-rise, 5-unit multifamily built in 1977, currently fully occupied and zoned V1.
Property Size3,960 SF
Price / SF$92.17
Days on Market112
Property Features for 39 Clinton Avenue
General Information
Standard status
Active
Size
3,960 SF
Property subtype
General Commercial
Zoning
V1
Occupancy
100%
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$11,247
Amenities
Gas
3
Shingle
V1
3 Parking Spaces.
Rectangular
130X165
Rectangular.
Building Details
Year Built
1977
Listing Agency:
HUNT Real Estate Corporation
(716) 510-2391
Listed By:
Dawn Moran
(716) 510-2391
Source:
Xome
Added: May 5
Changed: Aug 23
Last Checked: Aug 24 at 3:36AM
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 HUNT Real Estate Corporation
Investment Insights
Based on property information with market context.
This low-rise multifamily property features a total of 5 units within approximately 3,960 square feet. Built in 1977, it is described as meticulously maintained and is currently operating at full occupancy.
The property is offered for sale and is listed as being zoned V1, which may allow for a range of uses. It is also noted as being located in the Fredonia area, with walkScore 26 and bikeScore 37, suggesting a car-dependent setting.
As presented, the asset is positioned as an established income-producing property with an emphasis on its existing occupancy and zoning designation.
The property is offered for sale and is listed as being zoned V1, which may allow for a range of uses. It is also noted as being located in the Fredonia area, with walkScore 26 and bikeScore 37, suggesting a car-dependent setting.
As presented, the asset is positioned as an established income-producing property with an emphasis on its existing occupancy and zoning designation.
Key Highlights
- Low‑rise 5‑unit multifamily property with 3,960 SF, built in 1977
- Currently fully occupied (5 units)
- Zoned V1
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
$29,980
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
8.21%
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%
$599,600
$599.6K
Cap Rate 7%
$428,286
$428.3K
Cap Rate 9%
$333,111
$333.1K
Market Conditions
NOI Build-Up for 3,960 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
$62.7K $15.84/SF
− Vacancy
−$8.2K −$2.08/SF
EGI
$54.5K $13.76/SF
− OpEx
−$24.5K −$6.19/SF
NOI
$30.0K $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%
$599,600
Cap Rate 7%
$428,286
Cap Rate 9%
$333,111
Alternative Uses
Best Use
Apartment 5plus
$428.3K
$374.8K – $499.7K
NOI $29,980 @ 7.0% cap · market cap 8.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.04M – $1.38M
NOI $82,970 @ 7.0% cap · market cap 22.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
325
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 Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Low-rise, 5-unit multifamily built in 1977, currently fully occupied and zoned V1.
Where is this apartment building located?
The property is located at 39 Clinton Avenue Fredonia, NY.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Low‑rise 5‑unit multifamily property with 3,960 SF, built in 1977; Currently fully occupied (5 units); Zoned V1
