Modernized Three-Unit
For Sale
$280,000
501 Plymouth Avenue, Buffalo, NY 14213
Renovated multifamily property near shops, grocery stores, cafés, restaurants, and schools on Buffalo’s West Side.
Property Size2,400 SF
Days on Market10
Property Features for 501 Plymouth Avenue
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$2,697
Building Details
Building Size
2,400 SF
Year Built
1915
Listing Agency:
Howard Hanna WNY Inc
(716) 472-3533
Listed By:
Melissa M Doerr · License #10401285971
(716) 472-3533
Source:
Highfallssir
Added: Aug 20
Changed: Aug 28
Last Checked: Aug 26 at 9:40AM
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 Howard Hanna WNY Inc
Investment Insights
Based on property information with market context.
This three-unit triplex at 501 Plymouth Avenue contains approximately 2,400 square feet and was originally built in 1915. The property has undergone comprehensive modernization, with updates throughout the building that support its current residential configuration.
Located on Buffalo’s West Side, the property places residents near shops, grocery stores, cafés, restaurants, and schools. Downtown Buffalo is accessible from the address, and the source information also notes convenient access toward Canada. The three-unit layout and extensive renovations provide a clearly defined multifamily asset for residential income use.
Located on Buffalo’s West Side, the property places residents near shops, grocery stores, cafés, restaurants, and schools. Downtown Buffalo is accessible from the address, and the source information also notes convenient access toward Canada. The three-unit layout and extensive renovations provide a clearly defined multifamily asset for residential income use.
Key Highlights
- Three‑unit triplex at 501 Plymouth Avenue
- Approximately 2,400 square feet
- Built in 1915
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
$23,814
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
8.51%
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%
$476,280
$476.3K
Cap Rate 7%
$340,200
$340.2K
Cap Rate 9%
$264,600
$264.6K
Market Conditions
NOI Build-Up for 2,400 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
$36.0K $15.00/SF
− Vacancy
−$2.0K −$0.83/SF
EGI
$34.0K $14.17/SF
− OpEx
−$10.2K −$4.25/SF
NOI
$23.8K $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%
$476,280
Cap Rate 7%
$340,200
Cap Rate 9%
$264,600
Alternative Uses
Best Use
Multifamily LT 5
$340.2K
$297.7K – $396.9K
NOI $23,814 @ 7.0% cap · market cap 8.51%
Second Best
Apartment 5plus
$313.3K
$274.2K – $365.6K
NOI $21,934 @ 7.0% cap · market cap 7.83%
Theoretical Best
Office A
$577.2K
$505.0K – $673.4K
NOI $40,401 @ 7.0% cap · market cap 14.43%
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
1,028
Businesses Nearby
Explore this area
Business Placement
Demographics for 14213, NY
25,834
Population
11,397
Households
2.3
Avg Household Size
30
Median Age
36%
College-Educated
81%
High-School Grad
1.9 sq mi
ZIP Area
13,597
Density / Sq Mi
$52,597
Median Household Income
$36,084
Median Earnings
$1,059
Median Rent
$192,300
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 - Renovated multifamily property near shops, grocery stores, cafés, restaurants, and schools on Buffalo’s West Side.
Where is this triplex located?
The property is located at 501 Plymouth Avenue Buffalo, NY.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Three‑unit triplex at 501 Plymouth Avenue; Approximately 2,400 square feet; Built in 1915
