Turnkey 6-Unit Brick
For Sale
$950,000
6293 Robinson Road, Lockport, NY 14094
Fully renovated, fully occupied brick multifamily with coin-operated laundry and a 12-space private parking lot.
Property Size6,204 SF
Price / SF$153.13
Days on Market42
Property Features for 6293 Robinson Road
General Information
Standard status
Active
Size
6,204 SF
Total Parking Spaces
12
Property subtype
Multi Family
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$9,950
Building Details
Building Size
6,204 SF
Year Built
1979
Year Renovated
2023
Tenancy
Multi
Listing Agency:
WNYbyOwner.com
(716) 523-8508
Listed By:
Robyn Sansone · License #10491209960
(716) 523-8508
Source:
Highfallssir
Added: Jul 14
Changed: Aug 24
Last Checked: Aug 23 at 6:55AM
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 WNYbyOwner.com
Investment Insights
Based on property information with market context.
This turnkey 6-unit brick multifamily has completed a comprehensive top-to-bottom renovation, with multiple building systems and finishes updated throughout. The property features brand-new kitchens with stainless steel appliances, renovated bathrooms, new flooring, new doors and hardware, updated lighting inside and out, and new balcony doors and balcony flooring. Mechanical and comfort upgrades include new electric radiators throughout and new A/C units in every apartment. A new commercial coin-operated laundry system is also included. The building has sound insulation between units and a security camera system, along with secure tenant mailboxes.
The property includes seven separate electric meters, with one meter per apartment plus a landlord/common area meter. It is served by a 12-space private parking lot. The building is fully electric.
The asset is fully occupied and professionally maintained. Management is available after closing for a hands-off ownership approach, including rent collection and accounting, tenant relations, maintenance and repairs, leasing and renewals, and day-to-day operations. Appointments are required and proof of funds is required for showings.
The property includes seven separate electric meters, with one meter per apartment plus a landlord/common area meter. It is served by a 12-space private parking lot. The building is fully electric.
The asset is fully occupied and professionally maintained. Management is available after closing for a hands-off ownership approach, including rent collection and accounting, tenant relations, maintenance and repairs, leasing and renewals, and day-to-day operations. Appointments are required and proof of funds is required for showings.
Key Highlights
- Turnkey 6‑unit brick multifamily, fully occupied, totaling 6,204 SF with 12 bedrooms and 6 baths
- 2023 top‑to‑bottom renovation includes new roof, all new windows, brand‑new kitchens, and full bath remodels
- Fully electric building with 7 separate electric meters (one per apartment plus landlord/common area meter) and electric radiators throughout
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
$48,362
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
5.09%
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%
$967,240
$967.2K
Cap Rate 7%
$690,886
$690.9K
Cap Rate 9%
$537,356
$537.4K
Market Conditions
NOI Build-Up for 6,204 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
$94.5K $15.24/SF
− Vacancy
−$6.6K −$1.07/SF
EGI
$87.9K $14.17/SF
− OpEx
−$39.6K −$6.38/SF
NOI
$48.4K $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%
$967,240
Cap Rate 7%
$690,886
Cap Rate 9%
$537,356
Alternative Uses
Best Use
Apartment 5plus
$690.9K
$604.5K – $806.0K
NOI $48,362 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.27M
$4.61M – $6.15M
NOI $369,006 @ 7.0% cap · market cap 38.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
338
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully renovated, fully occupied brick multifamily with coin-operated laundry and a 12-space private parking lot.
Where is this apartment building located?
The property is located at 6293 Robinson Road Lockport, NY.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Turnkey 6‑unit brick multifamily, fully occupied, totaling 6,204 SF with 12 bedrooms and 6 baths; 2023 top‑to‑bottom renovation includes new roof, all new windows, brand‑new kitchens, and full bath remodels; Fully electric building with 7 separate electric meters (one per apartment plus landlord/common area meter) and electric radiators throughout
