25-Unit Multifamily
For Sale
$299,000
626 Spring Street, Jamestown, NY 14701
Multifamily package with mostly separate utilities and varied interior finishes across multiple properties.
Property Size1,615 SF
Price / SF$185.14
Days on Market157
Property Features for 626 Spring Street
General Information
Standard status
Active
Size
1,615 SF
Property subtype
Multi Family / Other
Additional Details
Multifamily Units
25
Taxes and HOA fees
Annual Taxes
$19,766
Amenities
Two
Electric, Gas, Baseboard, Forced Air, Space Heater
Appliances Negotiable, Electric Oven, Electric Range, Electric Water Heater, Free Standing Range, Gas Oven, Gas Range, Gas Water Heater, Oven, Refrigerator
Yes
1615.0
No
Carpet, Hardwood, Laminate, Tile, Varies, Vinyl
Crawl Space, Full, Partial
25
Asphalt, Metal, Shingle
Gravel Driveway
Aluminum Siding, Vinyl Siding, Wood Siding
Building Details
Year Built
1880
Stories
2
Listing Agency:
Walrod Realty
(716) 338-7796
Listed By:
Nathan Walrod · License #10351218818
(716) 338-7796
Source:
Compass
Added: Mar 29
Changed: Aug 31
Last Checked: Aug 31 at 10:15PM
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 Walrod Realty
Investment Insights
Based on property information with market context.
This offering comprises a 25-unit multifamily portfolio assembled across 16 properties. Most units have separate utility services, which allows utility responsibility to be allocated among the individual residences. Interior finishes vary and include carpet, hardwood, laminate, tile, and vinyl. Reported heating equipment includes electric, gas, baseboard, forced-air, and space-heater systems, while available appliances vary by unit.
The properties are offered together as a package and are being sold cash-only and AS IS. The portfolio is associated with 626 Spring Street in Jamestown, New York. Additional property features include a mix of aluminum, vinyl, and wood siding, along with asphalt, metal, and shingle roofing.
The properties are offered together as a package and are being sold cash-only and AS IS. The portfolio is associated with 626 Spring Street in Jamestown, New York. Additional property features include a mix of aluminum, vinyl, and wood siding, along with asphalt, metal, and shingle roofing.
Key Highlights
- Portfolio includes 16 properties with 25 total units
- Separate utilities serve the majority of units
- Interior finishes include carpet, hardwood, laminate, tile, and vinyl
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
Current Use
Lease Details
25
Residential units
Location Intelligence
Trade Area within ½ mile
344
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?
Multifamily property - Multifamily package with mostly separate utilities and varied interior finishes across multiple properties.
Where is this multifamily property located?
The property is located at 626 Spring Street 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 includes 16 properties with 25 total units; Separate utilities serve the majority of units; Interior finishes include carpet, hardwood, laminate, tile, and vinyl
