Two-Story Mixed-Use
New
For Sale
$379,000
462 Niagara Falls Blvd, Tonawanda, NY 14223
Flexible commercial building with customer-facing space below and open-concept office space above.
Property Size3,000 SF
Days on Market5
Property Features for 462 Niagara Falls Blvd
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Commercial
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$8,546
Building Details
Building Size
3,000 SF
Year Built
1979
Buildings
1
Stories
2
Listing Agency:
Keller Williams Realty Buffalo Northtowns
Listed By:
Brennan Macey · License #10401353748
(716) 771-9300
Source:
Elliman
Added: Sep 18
Last Checked: Sep 21 at 7:07AM
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 Keller Williams Realty Buffalo Northtowns
Investment Insights
Based on property information with market context.
This two-story mixed-use property combines a first-floor commercial area with an upper-level office component. The ground floor was most recently occupied by a dog grooming business and is available for a new tenant or owner-user. Above, the second floor provides an open-concept layout that can accommodate private offices, shared workspace, or professional suites.
Located at 462 Niagara Falls Blvd in Tonawanda, the property sits along an established commercial corridor with visibility, accessibility, and exposure from Niagara Falls Boulevard. Built in 1979, the building offers separate floor areas that can support occupancy of one level while the other is leased, or use of the full property by a single business.
Located at 462 Niagara Falls Blvd in Tonawanda, the property sits along an established commercial corridor with visibility, accessibility, and exposure from Niagara Falls Boulevard. Built in 1979, the building offers separate floor areas that can support occupancy of one level while the other is leased, or use of the full property by a single business.
Key Highlights
- Two‑story mixed‑use commercial property
- First floor was most recently occupied by a dog grooming business
- Second floor features an open‑concept office layout
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
$28,181
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
7.44%
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%
$563,620
$563.6K
Cap Rate 7%
$402,586
$402.6K
Cap Rate 9%
$313,122
$313.1K
Market Conditions
NOI Build-Up for 3,000 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
$54.0K $18.00/SF
− Vacancy
−$8.9K −$2.97/SF
EGI
$45.1K $15.03/SF
− OpEx
−$16.9K −$5.64/SF
NOI
$28.2K $9.39/SF
Area
Erie County, NY
Vacancy
16.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$563,620
Cap Rate 7%
$402,586
Cap Rate 9%
$313,122
Alternative Uses
Best Use
Office B
$537.0K
$469.9K – $626.5K
NOI $37,592 @ 7.0% cap · market cap 9.92%
Second Best
Mixed Use
$402.6K
$352.3K – $469.7K
NOI $28,181 @ 7.0% cap · market cap 7.44%
Theoretical Best
Office A
$655.8K
$573.8K – $765.1K
NOI $45,907 @ 7.0% cap · market cap 12.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
568
Businesses Nearby
Explore this area
Business Placement
Demographics for 14223, NY
22,658
Population
10,586
Households
2.1
Avg Household Size
41
Median Age
44%
College-Educated
97%
High-School Grad
3.5 sq mi
ZIP Area
6,474
Density / Sq Mi
$83,528
Median Household Income
$49,835
Median Earnings
$976
Median Rent
$202,200
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 - Flexible commercial building with customer-facing space below and open-concept office space above.
Where is this mixed-use property located?
The property is located at 462 Niagara Falls Blvd Tonawanda, NY.
What is the asking price?
The asking price for this property is $379,000.
What are key features of this property?
This property features: Two‑story mixed‑use commercial property; First floor was most recently occupied by a dog grooming business; Second floor features an open‑concept office layout
