Multifamily Investment Package For
For Sale
$299,000
Pending
626 Spring St, Jamestown, NY 14701
Sixteen properties with 25 units, strong income potential.
Property Size1,615 SF
Days on Market157
Property Features for 626 Spring St
General Information
Standard status
Pending
Size
1,615 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$19,766
Building Details
Building Size
1,615 SF
Year Built
1880
Stories
2
Units
25
Listed By:
Nathan Walrod
(716) 338-7796
Source:
Elliman
Added: Mar 30
Changed: Aug 8
Last Checked: Sep 1 at 8:38PM
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 Nathan Walrod
Investment Insights
Based on property information with market context.
This offering presents an investment opportunity consisting of a package of 16 properties, which include a total of 25 units. The majority of these units feature separate utilities. The properties are being sold as a package, under an 'AS IS' condition, and are offered for cash only. The location has a bike score of 45, indicating it is somewhat bikeable, and a walk score of 54, suggesting it is somewhat walkable.
Key Highlights
- Portfolio of 16 properties totaling 25 units.
- Strong income potential.
- Separate utilities for most 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
$12,227
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
4.09%
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%
$244,540
$244.5K
Cap Rate 7%
$174,671
$174.7K
Cap Rate 9%
$135,856
$135.9K
Market Conditions
NOI Build-Up for 1,615 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
$25.6K $15.84/SF
− Vacancy
−$3.4K −$2.08/SF
EGI
$22.2K $13.76/SF
− OpEx
−$10.0K −$6.19/SF
NOI
$12.2K $7.57/SF
Area
Chautauqua County, NY
Vacancy
13.10%
Lease Rate
$15.84 /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%
$244,540
Cap Rate 7%
$174,671
Cap Rate 9%
$135,856
Alternative Uses
Best Use
Apartment 5plus
$174.7K
$152.8K – $203.8K
NOI $12,227 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$483.4K
$423.0K – $564.0K
NOI $33,837 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,508
Businesses Nearby
Explore this area
Business Placement
Demographics for 14701, NY
38,428
Population
19,469
Households
2
Avg Household Size
42
Median Age
25%
College-Educated
90%
High-School Grad
92.6 sq mi
ZIP Area
415
Density / Sq Mi
$50,909
Median Household Income
$34,592
Median Earnings
$769
Median Rent
$98,400
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?
Apartment building - Sixteen properties with 25 units, strong income potential.
Where is this apartment building located?
The property is located at 626 Spring St Jamestown, NY.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Portfolio of 16 properties totaling 25 units.; Strong income potential.; Separate utilities for most units.
