Commercially Zoned
For Sale
$499,000
40 Princeton Pl, Orchard Park, NY 14127
Three-unit property with dual driveways and a finished basement featuring recreation rooms and a full bathroom.
Property Size3,176 SF
Price / SF$157.12
Days on Market17
Property Features for 40 Princeton Pl
General Information
Standard status
Active
Size
3,176 SF
Property subtype
Multi-Family
Zoning
COMMERCIAL
Amenities
finished basement
recreation rooms
full bathroom
Building Details
Year Built
1950
Tenancy
Multi
Listing Agency:
Exchange Real Estate Inc.
(716) 479-4622
Listed By:
Robert A Ploch · License #10311205945
Source:
Thejoshjamesteam
Added: Aug 12
Changed: Aug 27
Last Checked: Aug 28 at 1:01PM
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 Exchange Real Estate Inc.
Investment Insights
Based on property information with market context.
This three-unit property, built in 1950, includes two driveways for on-site parking access. The finished basement adds two large recreation rooms and a full bathroom, expanding the usable interior beyond the primary living areas.
Located in the Village of Orchard Park, the property is associated with Orchard Park Schools and carries commercial zoning. The source information identifies potential office, retail, and art studio applications in addition to its existing three-unit configuration.
Located in the Village of Orchard Park, the property is associated with Orchard Park Schools and carries commercial zoning. The source information identifies potential office, retail, and art studio applications in addition to its existing three-unit configuration.
Key Highlights
- Three‑unit property in the Village of Orchard Park
- Commercial zoning with office, retail, and art studio possibilities
- Two driveways provide on‑site parking access
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
$20,421
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
4.09%
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%
$408,420
$408.4K
Cap Rate 7%
$291,729
$291.7K
Cap Rate 9%
$226,900
$226.9K
Market Conditions
NOI Build-Up for 3,176 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
$43.8K $13.80/SF
− Vacancy
−$14.7K −$4.61/SF
EGI
$29.2K $9.19/SF
− OpEx
−$8.8K −$2.76/SF
NOI
$20.4K $6.43/SF
Area
Erie County, NY
Vacancy
33.44%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$408,420
Cap Rate 7%
$291,729
Cap Rate 9%
$226,900
Alternative Uses
Best Use
Multifamily LT 5
$291.7K
$255.3K – $340.4K
NOI $20,421 @ 7.0% cap · market cap 4.09%
Second Best
Apartment 5plus
$262.0K
$229.2K – $305.6K
NOI $18,337 @ 7.0% cap · market cap 3.67%
Theoretical Best
Office A
$694.3K
$607.5K – $810.0K
NOI $48,600 @ 7.0% cap · market cap 9.74%
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
889
Businesses Nearby
Explore this area
Business Placement
Demographics for 14127, NY
30,565
Population
13,412
Households
2.3
Avg Household Size
46
Median Age
53%
College-Educated
98%
High-School Grad
40.7 sq mi
ZIP Area
751
Density / Sq Mi
$106,071
Median Household Income
$59,902
Median Earnings
$1,196
Median Rent
$328,700
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?
Triplex - Three-unit property with dual driveways and a finished basement featuring recreation rooms and a full bathroom.
Where is this triplex located?
The property is located at 40 Princeton Pl Orchard Park, NY.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Three‑unit property in the Village of Orchard Park; Commercial zoning with office, retail, and art studio possibilities; Two driveways provide on‑site parking access
