Mixed-Use Property with Commercial
For Sale
$349,900
5314 Broadway St, Lancaster, NY 14086
Combines two apartments with flexible commercial suites and several recently updated building systems.
Property Size5,046 SF
Price / SF$69.34
Days on Market48
Property Features for 5314 Broadway St
General Information
Standard status
Active
Size
5,046 SF
Total Parking Spaces
8
Units
Unit Mix
1 x 3BR, 1 x 1BR
Multifamily Units
2
Additional Details
Road Access
Yes
Building Details
Year Built
1890
Tenancy
Multi
Listing Agency:
Perfect Place
Listed By:
Stephanie A Morgan · License #49MO0969814
(716) 866-8101
Source:
Skinnercnyrealty
Added: Sep 11
Changed: Oct 26
Last Checked: Oct 7 at 1:07PM
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 Perfect Place
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Investment Insights
Based on property information with market context.
This 5046-square-foot mixed-use property, built in 1890, combines two apartments with commercial space divided into three suites. The upper residence includes three bedrooms, a formal dining room, and generous living areas. The lower apartment offers one bedroom and an open living and kitchen arrangement. Both apartments have new hot water tanks, while the office area has a new furnace.
The commercial portion is supported by three-phase electric service, and the paved parking lot accommodates up to 8 cars. The property fronts Broadway St in Lancaster and is positioned near shopping, amenities, and commuter routes. The updated lower apartment and refreshed parking surface add practical improvements across the residential and commercial components.
The commercial portion is supported by three-phase electric service, and the paved parking lot accommodates up to 8 cars. The property fronts Broadway St in Lancaster and is positioned near shopping, amenities, and commuter routes. The updated lower apartment and refreshed parking surface add practical improvements across the residential and commercial components.
Key Highlights
- 5046‑square‑foot mixed‑use property built in 1890
- Two apartments: one with 3 bedrooms and one with 1 bedroom
- Commercial area includes 3 suites
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,134
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$582,680
$582.7K
Cap Rate 7%
$416,200
$416.2K
Cap Rate 9%
$323,711
$323.7K
Market Conditions
NOI Build-Up for 5,046 SF
Gross rent
$81.7K $16.20/SF
− Vacancy
−$28.8K −$5.70/SF
EGI
$53.0K $10.50/SF
− OpEx
−$23.8K −$4.72/SF
NOI
$29.1K $5.77/SF
Area
Erie County, NY
Vacancy
35.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$582,680
Cap Rate 7%
$416,200
Cap Rate 9%
$323,711
Alternative Uses
Best Use
Mixed Use
$677.2K
$592.5K – $790.0K
NOI $47,401 @ 7.0% cap · market cap 13.55%
Second Best
Apartment 5plus
$416.2K
$364.2K – $485.6K
NOI $29,134 @ 7.0% cap · market cap 8.33%
Theoretical Best
Office A
$1.10M
$965.2K – $1.29M
NOI $77,216 @ 7.0% cap · market cap 22.07%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
572
Businesses Nearby
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Business Placement
Demographics for 14086, NY
35,010
Population
15,486
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
95%
High-School Grad
33.3 sq mi
ZIP Area
1,051
Density / Sq Mi
$95,949
Median Household Income
$53,164
Median Earnings
$983
Median Rent
$263,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Combines two apartments with flexible commercial suites and several recently updated building systems.
Where is this mixed-use property located?
The property is located at 5314 Broadway St Lancaster, NY.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 5046‑square‑foot mixed‑use property built in 1890; Two apartments: one with 3 bedrooms and one with 1 bedroom; Commercial area includes 3 suites
