8-Unit Brick Apartment
New
For Sale
$1,150,000
53 Mead Street, North Tonawanda, NY 14120
CommercialSale, 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
Apartment
Zoning
C-1
Zoning description
Residential Multi Use
Rooms
Basement
Parking
8
Lot features
Rectangular, Rectangular 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
Sewer type
Public Sewer
Heating system
Baseboard, Zoned, Natural Gas
Cooling system
Zoned
Water source
Public
Amenities
common area basement
laundry
Building Details
Year built
1960
Floors in Building
2
Number of units
8
Flooring type
Carpet
Building materials
Brick
Roof type
Asphalt, Shingle
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# B1726780
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-unit brick apartment property contains 8,380 square feet on a 0.3588-acre parcel. Each residence has two bedrooms, one bathroom, a living room, and an eat-in kitchen equipped with an electric stove and refrigerator. Wall air conditioning and separate electric service are provided in each unit. The building also includes a shared basement laundry area and private parking for every apartment.
Updates include renovated bathrooms, replacement windows, some newer unit flooring, and a tear-off roof installed in 2018. A hot water tank was added in 2020. The property is zoned C-1 and has public water and public sewer.
Updates include renovated bathrooms, replacement windows, some newer unit flooring, and a tear-off roof installed in 2018. A hot water tank was added in 2020. The property is zoned C-1 and has public water and public sewer.
Key Highlights
- Eight apartments, each configured with 2 bedrooms and 1 bathroom
- 8,380‑square‑foot brick building on a 0.3588‑acre parcel
- Separate electric service and wall air conditioning in each unit
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.
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
457
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Separate electric service, basement laundry, and individual parking serve the building’s two-bedroom residences.
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‑foot brick building on a 0.3588‑acre parcel; Separate electric service and wall air conditioning in each unit
