Waterfront Mixed-Use
For Sale
$4,500,000
435 N 2nd Street, Lewiston, NY 14092
Vacant commercial building with offices, conference rooms, kitchen, and seven restrooms.
Property Size14,581 SF
Lot Size2.65 Acres
Price / SF$308.62
Days on Market90
Property Features for 435 N 2nd Street
General Information
Standard status
Active
Size
14,581 SF
Total Parking Spaces
30
Lot size
2.65 Acres
Property subtype
Commercial
Zoning
464, Commercial
Taxes and HOA fees
Annual Taxes
$4
Amenities
conference rooms
private executive offices
full kitchen
restrooms
fireplaces
six-bedroom configuration
Building Details
Building Size
14,581 SF
Year Built
1848
Buildings
1
Stories
3
Owner Occupied
No
Listing Agency:
Century 21 North East
(716) 998-9220
Listed By:
Sam A Talarico · License #10301213118
(716) 998-9220
Source:
Northstarwny
Added: May 15
Changed: Aug 7
Last Checked: Aug 11 at 1:52PM
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 Century 21 North East
Investment Insights
Based on property information with market context.
Located at 435 N 2nd Street in Lewiston, this vacant mixed-use commercial property includes a 14,581 SF building on 2.65 acres along the Niagara River. The site provides 267 feet of water frontage and carries 464, Commercial zoning.
The building includes multiple conference rooms, private executive offices, a full kitchen, seven restrooms, four fireplaces, and a six-bedroom configuration. Its interior combines office areas with residential-style layouts and other flexible commercial spaces. Constructed in 1848, the property is being offered without existing tenancy, allowing the next owner to determine its operating or redevelopment direction.
The asset is positioned in the Village of Lewiston and is described as minutes from Canada. Its riverfront setting, commercial zoning, vacant status, and varied interior configuration provide a substantial physical base for office, medical, hospitality, wellness, residential, or other mixed-use planning, subject to applicable approvals.
The building includes multiple conference rooms, private executive offices, a full kitchen, seven restrooms, four fireplaces, and a six-bedroom configuration. Its interior combines office areas with residential-style layouts and other flexible commercial spaces. Constructed in 1848, the property is being offered without existing tenancy, allowing the next owner to determine its operating or redevelopment direction.
The asset is positioned in the Village of Lewiston and is described as minutes from Canada. Its riverfront setting, commercial zoning, vacant status, and varied interior configuration provide a substantial physical base for office, medical, hospitality, wellness, residential, or other mixed-use planning, subject to applicable approvals.
Key Highlights
- 14,581 SF mixed‑use commercial building on 2.65 acres
- 267 feet of Niagara River water frontage
- Vacant property with no existing tenancy
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
$206,213
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
4.58%
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%
$4,124,260
$4.1M
Cap Rate 7%
$2,945,900
$2.9M
Cap Rate 9%
$2,291,256
$2.3M
Market Conditions
NOI Build-Up for 14,581 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
$314.9K $21.60/SF
− Vacancy
−$40.0K −$2.74/SF
EGI
$275.0K $18.86/SF
− OpEx
−$68.7K −$4.71/SF
NOI
$206.2K $14.14/SF
Area
Niagara County, NY
Vacancy
12.70%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
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%
$4,124,260
Cap Rate 7%
$2,945,900
Cap Rate 9%
$2,291,256
Alternative Uses
Best Use
Office B
$2.95M
$2.58M – $3.44M
NOI $206,213 @ 7.0% cap · market cap 4.58%
Second Best
Mixed Use
$2.81M
$2.46M – $3.28M
NOI $196,844 @ 7.0% cap · market cap 4.37%
Theoretical Best
Warehouse
$12.39M
$10.84M – $14.45M
NOI $867,260 @ 7.0% cap · market cap 19.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
464
Businesses Nearby
Explore this area
Business Placement
Demographics for 14092, NY
11,030
Population
5,241
Households
2.1
Avg Household Size
51
Median Age
40%
College-Educated
95%
High-School Grad
21.2 sq mi
ZIP Area
520
Density / Sq Mi
$67,835
Median Household Income
$48,315
Median Earnings
$979
Median Rent
$246,300
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 - Vacant commercial building with offices, conference rooms, kitchen, and seven restrooms.
Where is this mixed-use property located?
The property is located at 435 N 2nd Street Lewiston, NY.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: 14,581 SF mixed‑use commercial building on 2.65 acres; 267 feet of Niagara River water frontage; Vacant property with no existing tenancy
