8-Unit Brick Apartment
New
For Sale
$1,150,000
53 Mead Street, North Tonawanda, NY 14120
MultiFamily, North Tonawanda, NY
Property Size8,380 SF
Lot Size0.36 Acres
Price / SF$137.23
Days on Market4
Property Features for 53 Mead Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
16
Rooms
Bedroom 4, Bedroom 11, Bedroom 5, Bedroom 15, Bedroom 14, Bedroom 9, Bedroom 16, Bedroom 12, Bedroom 6, Bedroom 2, Bedroom 8, Bedroom 3, Bedroom 10, Bedroom 13, Basement, Bedroom 1, Bedroom 7
Parking features
Garage
Interior features
CeilingFans
Exterior features
BlacktopDriveway, ConcreteDriveway
Appliances
ElectricOven, ElectricRange, GasWaterHeater, Refrigerator
Lot features
Rectangular, Rectangular Lot, Residential Lot
Elementary school
Spruce
Middle school
North Tonawanda Middle
High school
North Tonawanda High
Elementary school district
North Tonawanda
Middle school district
North Tonawanda
High school district
North Tonawanda
Directions
E. Robinson to Mead
Subdivision
North Tonawanda-City-291200
Standard status
Active
APN
291200-182-065-0001-079-000
Size
8,380 SF
Lot size
0.36 Acres
Additional Details
Individually Metered Utilities
electricity
Taxes and HOA fees
Tax Annual Amount
18121
Utilities
Heating system
Baseboard, Zoned, Natural Gas
Cooling system
Wall Unit(s), Zoned
Water source
Public
Amenities
electric stove
refrigerator
wall air conditioning
common area basement
laundry
Building Details
Year built
1960
Floors in Building
2
Number of units
8
Flooring type
Carpet, Varies, Laminate, Tile
Building materials
Brick, CopperPlumbing
Roof type
Asphalt
Buildings
1
Listing Agency:
Keller Williams Realty WNY
(716) 832-3300
Listed By:
John Gatas · License #10301217315
(716) 218-3146
Added: Nov 3
Changed: Nov 5
Last Checked: Nov 6 at 4:06AM
MLS# B1726463
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1960, this 8,380-square-foot brick apartment property contains eight residences, each with two bedrooms, one bathroom, a living room and an eat-in kitchen. Electric ranges and refrigerators are included, and each unit has wall air conditioning and separate electric service. The building also has a shared basement laundry area and a common basement. The 0.3588-acre site includes a concrete-pad driveway and private parking for each residence.
Updates include bathrooms and windows, a tear-off roof installed in 2018, a hot water tank added in 2020, and newer flooring in some units. Heating is natural gas with baseboard distribution and zoned controls; cooling is also zoned.
Updates include bathrooms and windows, a tear-off roof installed in 2018, a hot water tank added in 2020, and newer flooring in some units. Heating is natural gas with baseboard distribution and zoned controls; cooling is also zoned.
Key Highlights
- Eight apartments, each configured with 2 bedrooms and 1 bathroom
- 8,380 square feet of building area on a 0.3588‑acre parcel
- Separate electric service for each unit; shared laundry in the basement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,324
Cap Rate
5.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,306,480
$1.3M
Cap Rate 7%
$933,200
$933.2K
Cap Rate 9%
$725,822
$725.8K
Market Conditions
NOI Build-Up for 8,380 SF
Gross rent
$127.7K $15.24/SF
− Vacancy
−$8.9K −$1.07/SF
EGI
$118.8K $14.17/SF
− OpEx
−$53.4K −$6.38/SF
NOI
$65.3K $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 Rate 5%
$1,306,480
Cap Rate 7%
$933,200
Cap Rate 9%
$725,822
Alternative Uses
Best Use
Apartment 5plus
$933.2K
$816.6K – $1.09M
NOI $65,324 @ 7.0% cap · market cap 5.68%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$7.12M
$6.23M – $8.31M
NOI $498,432 @ 7.0% cap · market cap 43.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
8
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
457
Businesses Nearby
Explore this area
Business Placement
Demographics for 14120, NY
44,538
Population
20,367
Households
2.2
Avg Household Size
45
Median Age
30%
College-Educated
94%
High-School Grad
32.6 sq mi
ZIP Area
1,366
Density / Sq Mi
$76,608
Median Household Income
$47,014
Median Earnings
$932
Median Rent
$205,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Individual electric service complements shared basement laundry and parking for residents.
Where is this apartment building located?
The property is located at 53 Mead Street North Tonawanda, NY.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Eight apartments, each configured with 2 bedrooms and 1 bathroom; 8,380 square feet of building area on a 0.3588‑acre parcel; Separate electric service for each unit; shared laundry in the basement
