Three-Property Apartment
For Sale
Contact for pricing
4973 TUSCARORA RD, Niagara Falls, NY 14304
Three multifamily communities offer townhomes, garden-style apartments, and units with garages across Niagara County.
Property Size177,551 SF
Price / SF$103.07
Days on Market42
Property Features for 4973 TUSCARORA RD
General Information
Standard status
Active
Size
177,551 SF
Class
C
Property subtype
Multifamily
Occupancy
97%
Investment Type
Value Add
Net Operating Income
$1,229,161
Additional Details
Utilities to Site
Yes
Amenities
private basements
common laundry
Building Details
Year Built
1970
Year Renovated
2000
Buildings
33
Stories
2
Units
161
Tenancy
Multi
Listing Agency:
Network One Realty
(716) 874-3530
Listed By:
Michael F. Battaglia CCIM · License #NY 10371200173
Source:
Crexi
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 31 at 12:50AM
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 Network One Realty
Investment Insights
Based on property information with market context.
This multifamily offering includes three separate apartment communities in the Niagara area. Wildwood Acres comprises 72 apartments plus 14 additional townhomes, with individually metered utilities and private basements. Silver Lake includes 60 garden-style apartments with one- and two-bedroom layouts, while Brookside Commons contains 15 apartments with garages. The properties were built in 1970.
Building services vary by community. Silver Lake includes heat and water, and Brookside Commons provides common heat and water with separate electric service and shared laundry facilities. The communities are associated with Wheatfield schools or the LaSalle district, as applicable, and are located near airports, shopping, parks, recreational facilities, the Canadian border, schools, and universities.
Building services vary by community. Silver Lake includes heat and water, and Brookside Commons provides common heat and water with separate electric service and shared laundry facilities. The communities are associated with Wheatfield schools or the LaSalle district, as applicable, and are located near airports, shopping, parks, recreational facilities, the Canadian border, schools, and universities.
Key Highlights
- Wildwood Acres includes 72 apartments plus 14 additional townhomes
- Silver Lake offers 60 garden‑style units with 1- and 2‑bedroom layouts
- Brookside Commons includes 15 units with garages
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
$1,384,056
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
7.56%
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%
$27,681,120
$27.7M
Cap Rate 7%
$19,772,229
$19.8M
Cap Rate 9%
$15,378,400
$15.4M
Market Conditions
NOI Build-Up for 177,551 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
$2.71M $15.24/SF
− Vacancy
−$189.4K −$1.07/SF
EGI
$2.52M $14.17/SF
− OpEx
−$1.13M −$6.38/SF
NOI
$1.38M $7.80/SF
Area
Niagara County, NY
Vacancy
7.00%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
45.00%
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%
$27,681,120
Cap Rate 7%
$19,772,229
Cap Rate 9%
$15,378,400
Alternative Uses
Best Use
Apartment 5plus
$19.77M
$17.30M – $23.07M
NOI $1,384,056 @ 7.0% cap · market cap 7.56%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$150.86M
$132.01M – $176.01M
NOI $10,560,512 @ 7.0% cap · market cap 57.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
16
Businesses Nearby
Explore this area
Business Placement
Demographics for 14304, NY
28,923
Population
13,705
Households
2.1
Avg Household Size
45
Median Age
25%
College-Educated
92%
High-School Grad
21.5 sq mi
ZIP Area
1,345
Density / Sq Mi
$64,756
Median Household Income
$42,613
Median Earnings
$901
Median Rent
$151,500
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?
Apartment building - Three multifamily communities offer townhomes, garden-style apartments, and units with garages across Niagara County.
Where is this apartment building located?
The property is located at 4973 TUSCARORA RD Niagara Falls, NY.
What is the asking price?
The asking price for this property is $18,300,000.
What are key features of this property?
This property features: Wildwood Acres includes 72 apartments plus 14 additional townhomes; Silver Lake offers 60 garden‑style units with 1- and 2‑bedroom layouts; Brookside Commons includes 15 units with garages
