Depew Triplex Investment
45 Crane St, Lancaster, NY 14043
For Sale
$219,000
Pending
Fully occupied triplex in Depew, NY, offering steady income.
Property Size2,240 SF
Lot Size0.11 Acres
Days on Market250
Property Features for 45 Crane St
General Information
Standard status
Size
Lot size
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
HUNT Real Estate Corporation
Listed By:
Timothy Mulhern
(716) 714-0343
Source:
Elliman
Added: Mar 10
Changed: Nov 12
Last Checked: Nov 12 at 8:29AM
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
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Investment Insights
Based on property information with market context.
Located at 45 Crane St in Depew, NY, this fully occupied triplex represents an investment opportunity with potential for growth. The property features three units: a 2-bedroom, 1-bathroom upper unit; a 1-bedroom, 1-bathroom lower unit; and a 2-bedroom, 1.5-bathroom rear unit. The location provides convenient access to Transit Rd, placing shopping, dining, and major job centers within a short distance. The property is positioned as a multi-family asset suitable for building long-term wealth.
Key Highlights
- Fully occupied triplex providing immediate rental income.
- Desirable Depew location with high tenant demand.
- Convenient access to Transit Rd, shopping, dining, and job centers.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,403
Cap Rate
6.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$288,060
$288.1K
Cap Rate 7%
$205,757
$205.8K
Cap Rate 9%
$160,033
$160.0K
Market Conditions
NOI Build-Up for 2,240 SF
Gross rent
$30.9K $13.80/SF
− Vacancy
−$10.3K −$4.61/SF
EGI
$20.6K $9.19/SF
− OpEx
−$6.2K −$2.76/SF
NOI
$14.4K $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 Rate 5%
$288,060
Cap Rate 7%
$205,757
Cap Rate 9%
$160,033
Alternative Uses
Best Use
Multifamily LT 5
$205.8K
$180.0K – $240.1K
NOI $14,403 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$184.8K
$161.7K – $215.6K
NOI $12,933 @ 7.0% cap · market cap 5.91%
Theoretical Best
Office A
$489.7K
$428.5K – $571.3K
NOI $34,277 @ 7.0% cap · market cap 15.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
265
Businesses Nearby
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Business Placement
Demographics for 14043, NY
24,962
Population
11,743
Households
2.1
Avg Household Size
45
Median Age
27%
College-Educated
94%
High-School Grad
9.1 sq mi
ZIP Area
2,743
Density / Sq Mi
$73,373
Median Household Income
$50,263
Median Earnings
$1,072
Median Rent
$192,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Erie County, NY
Properties on Market for Triplexes in Erie County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied triplex in Depew, NY, offering steady income.
Where is this triplex located?
The property is located at 45 Crane St Lancaster, NY.
What is the asking price?
The asking price for this property is $219,000.
What are key features of this property?
This property features: Fully occupied triplex providing immediate rental income.; Desirable Depew location with high tenant demand.; Convenient access to Transit Rd, shopping, dining, and job centers.
