Corner Mixed-Use Retail and
For Sale
Contact for pricing
5476 Broadway St, Lancaster, NY 14086
Mixed-use corner property with retail storefronts and multiple apartments, supported by separate utilities and on-site parking.
Property Size9,856 SF
Price / SF$65.85
Days on Market52
Property Features for 5476 Broadway St
General Information
Standard status
Active
Size
9,856 SF
Property subtype
RETAIL
Listing Agency:
Gurney Becker & Bourne
(716) 208-5340
Listed By:
Gary Greco Jr · License #10401251303
Source:
Moodyscre
Added: Jun 17
Changed: Jul 10
Last Checked: Jul 21 at 6:12AM
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 Gurney Becker & Bourne
Investment Insights
Based on property information with market context.
This corner mixed-use property includes two buildings combining retail storefront space with residential apartments. The front building features two retail storefronts, each currently operating as a custom cabinet and countertop showroom and a restaurant. The second floor has four apartments, consisting of two 2-bedroom units and two 1-bedroom units. A third-floor area is available that could be converted back into two additional rental units. The rear building provides three apartments, including one 1-bedroom unit and two 2-bedroom units, and includes garage parking.
The property is positioned on a corner lot at 5476 Broadway St and includes an adjacent lot addressed as 9 School St. Off-street parking and garage parking are available to accommodate approximately 10 cars, and the adjacent parcel may be used to add parking. All utilities across both buildings are separate, and tenants are on month-to-month leases.
Updates and systems noted for the front building include newer electrical service and brand new central air units for the storefronts. With separate utilities, a multi-tenant mix of retail and residential space, and flexible lease structure, the property can suit an owner-operator or an investor seeking a portfolio-style asset in a mixed-use configuration.
The property is positioned on a corner lot at 5476 Broadway St and includes an adjacent lot addressed as 9 School St. Off-street parking and garage parking are available to accommodate approximately 10 cars, and the adjacent parcel may be used to add parking. All utilities across both buildings are separate, and tenants are on month-to-month leases.
Updates and systems noted for the front building include newer electrical service and brand new central air units for the storefronts. With separate utilities, a multi-tenant mix of retail and residential space, and flexible lease structure, the property can suit an owner-operator or an investor seeking a portfolio-style asset in a mixed-use configuration.
Key Highlights
- Mixed‑use corner property at 5476 Broadway St with two buildings plus an additional adjacent lot at 9 School St
- Front building includes two retail storefronts, each about 1,000 SF, currently operating as a cabinet/countertop showroom and a restaurant
- Front building has 4 apartments on the second floor: two 2‑bedroom and two 1‑bedroom units
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
$56,905
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
8.77%
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%
$1,138,100
$1.1M
Cap Rate 7%
$812,929
$812.9K
Cap Rate 9%
$632,278
$632.3K
Market Conditions
NOI Build-Up for 9,856 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
$159.7K $16.20/SF
− Vacancy
−$56.2K −$5.70/SF
EGI
$103.5K $10.50/SF
− OpEx
−$46.6K −$4.72/SF
NOI
$56.9K $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 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%
$1,138,100
Cap Rate 7%
$812,929
Cap Rate 9%
$632,278
Alternative Uses
Best Use
Specialty Retail
$1.70M
$1.48M – $1.98M
NOI $118,686 @ 7.0% cap · market cap 18.29%
Second Best
Mixed Use
$1.32M
$1.16M – $1.54M
NOI $92,585 @ 7.0% cap · market cap 14.27%
Theoretical Best
Office A
$2.15M
$1.89M – $2.51M
NOI $150,820 @ 7.0% cap · market cap 23.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
425
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use corner property with retail storefronts and multiple apartments, supported by separate utilities and on-site parking.
Where is this mixed-use property located?
The property is located at 5476 Broadway St Lancaster, NY.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Mixed‑use corner property at 5476 Broadway St with two buildings plus an additional adjacent lot at 9 School St; Front building includes two retail storefronts, each about 1,000 SF, currently operating as a cabinet/countertop showroom and a restaurant; Front building has 4 apartments on the second floor: two 2‑bedroom and two 1‑bedroom units
