23-Unit One-Bedroom Apartment
For Sale
Contact for pricing
5724 Glendale Dr, Lockport, NY 14094
Multifamily property with on-site parking and coin-operated laundry facilities.
Property Size12,936 SF
Price / SF$120.59
Days on Market148
Property Features for 5724 Glendale Dr
General Information
Standard status
Active
Size
12,936 SF
Class
B
Property subtype
Multifamily
Zoning
multi
Occupancy
95%
Units
Unit Mix
23 x 1BR
Multifamily Units
23
Additional Details
Road Access
Yes
Amenities
coin-operated laundry facilities
Building Details
Year Built
1990
Buildings
1
Stories
2
Units
23
Listing Agency:
Greco Real Estate
(716) 570-7600
Listed By:
Chris Greco · License #10491210541
Source:
Crexi
Added: Apr 6
Changed: Aug 31
Last Checked: Aug 31 at 1:51PM
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 Greco Real Estate
Investment Insights
Based on property information with market context.
Ashwood is a 23-unit apartment property comprising exclusively one-bedroom residences within a 12,936-square-foot multifamily building completed in 1990. The property includes on-site parking and coin-operated laundry facilities, providing practical resident amenities and an additional operating feature.
Located at 5724 Glendale Dr in Lockport, the property sits on a residential street with access to Transit Road, retail, employment, and services. Multi zoning supports its existing apartment use.
Located at 5724 Glendale Dr in Lockport, the property sits on a residential street with access to Transit Road, retail, employment, and services. Multi zoning supports its existing apartment use.
Key Highlights
- 23‑unit apartment property with an all one‑bedroom unit mix
- 12,936‑square‑foot multifamily building completed in 1990
- On‑site parking for residents
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
$100,839
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
6.46%
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%
$2,016,780
$2.0M
Cap Rate 7%
$1,440,557
$1.4M
Cap Rate 9%
$1,120,433
$1.1M
Market Conditions
NOI Build-Up for 12,936 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
$197.1K $15.24/SF
− Vacancy
−$13.8K −$1.07/SF
EGI
$183.3K $14.17/SF
− OpEx
−$82.5K −$6.38/SF
NOI
$100.8K $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 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%
$2,016,780
Cap Rate 7%
$1,440,557
Cap Rate 9%
$1,120,433
Alternative Uses
Best Use
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $100,839 @ 7.0% cap · market cap 6.46%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$10.99M
$9.62M – $12.82M
NOI $769,417 @ 7.0% cap · market cap 49.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
23
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
363
Businesses Nearby
Explore this area
Business Placement
Demographics for 14094, NY
50,969
Population
23,283
Households
2.2
Avg Household Size
42
Median Age
29%
College-Educated
92%
High-School Grad
121.7 sq mi
ZIP Area
419
Density / Sq Mi
$73,354
Median Household Income
$45,056
Median Earnings
$869
Median Rent
$186,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with on-site parking and coin-operated laundry facilities.
Where is this apartment building located?
The property is located at 5724 Glendale Dr Lockport, NY.
What is the asking price?
The asking price for this property is $1,560,000.
What are key features of this property?
This property features: 23‑unit apartment property with an all one‑bedroom unit mix; 12,936‑square‑foot multifamily building completed in 1990; On‑site parking for residents
