Historic Triplex with Exposed
For Sale
$419,999
46 Whitney Place, Buffalo, NY 14201
Three-unit residential property with high ceilings, oversized windows, and two vacant units for renovation or occupancy planning.
Property Size3,271 SF
Days on Market8
Property Features for 46 Whitney Place
General Information
Standard status
Active
Size
3,271 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,060
Building Details
Building Size
3,271 SF
Year Built
1870
Listing Agency:
716 Realty Group WNY LLC
(716) 864-1055
Listed By:
Gregory Straus · License #10491211091
(716) 864-1055
Source:
Highfallssir
Added: Aug 24
Changed: Aug 29
Last Checked: Aug 30 at 11:47PM
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 716 Realty Group WNY LLC
Investment Insights
Based on property information with market context.
Built in 1870, this Buffalo triplex contains three residential units with distinct layouts and period character. Interior features include exposed brick accents, high ceilings, and oversized windows that bring natural light into the spaces. Two units are currently vacant, while the property’s configuration allows the next owner to evaluate renovation, leasing, or owner-occupancy plans.
The property is located at 46 Whitney Place in Buffalo, NY 14201, near downtown dining, entertainment, businesses, and major routes. Its central setting places the building within an established urban environment while retaining the architectural character associated with its construction era.
The property is located at 46 Whitney Place in Buffalo, NY 14201, near downtown dining, entertainment, businesses, and major routes. Its central setting places the building within an established urban environment while retaining the architectural character associated with its construction era.
Key Highlights
- Three‑unit triplex built in 1870
- Two of three units currently vacant
- Exposed brick accents and high ceilings
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
$32,456
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
7.73%
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%
$649,120
$649.1K
Cap Rate 7%
$463,657
$463.7K
Cap Rate 9%
$360,622
$360.6K
Market Conditions
NOI Build-Up for 3,271 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
$49.1K $15.00/SF
− Vacancy
−$2.7K −$0.83/SF
EGI
$46.4K $14.17/SF
− OpEx
−$13.9K −$4.25/SF
NOI
$32.5K $9.92/SF
Area
Buffalo, NY
Vacancy
5.50%
Lease Rate
$15.00 /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%
$649,120
Cap Rate 7%
$463,657
Cap Rate 9%
$360,622
Alternative Uses
Best Use
Multifamily LT 5
$463.7K
$405.7K – $540.9K
NOI $32,456 @ 7.0% cap · market cap 7.73%
Second Best
Apartment 5plus
$427.1K
$373.7K – $498.3K
NOI $29,895 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$786.6K
$688.3K – $917.7K
NOI $55,063 @ 7.0% cap · market cap 13.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
4,351
Businesses Nearby
Explore this area
Business Placement
Demographics for 14201, NY
12,364
Population
7,172
Households
1.7
Avg Household Size
33
Median Age
39%
College-Educated
84%
High-School Grad
1.1 sq mi
ZIP Area
11,240
Density / Sq Mi
$34,204
Median Household Income
$34,081
Median Earnings
$953
Median Rent
$327,900
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 residential property with high ceilings, oversized windows, and two vacant units for renovation or occupancy planning.
Where is this triplex located?
The property is located at 46 Whitney Place Buffalo, NY.
What is the asking price?
The asking price for this property is $419,999.
What are key features of this property?
This property features: Three‑unit triplex built in 1870; Two of three units currently vacant; Exposed brick accents and high ceilings
