Renovated Six-Unit Brick Apartment
For Sale
$950,000
6293 Robinson Road, Lockport, NY 14094
MULTI_FAMILY - Lockport, NY
Property Size6,204 SF
Lot Size0.51 Acres
Price / SF$153.13
Days on Market47
Property Features for 6293 Robinson Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
12
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 11, Bedroom 5, Bathroom 5, Bedroom 6, Bathroom 6, Bathroom 3, Bedroom 3, Bedroom 1, Bedroom 8, Bedroom 9, Bedroom 4, Bedroom 12, Basement, Bathroom 2, Bathroom 1, Bedroom 7, Bedroom 10, Bathroom 4, Bedroom 2
Appliances
ElectricWaterHeater
Lot features
Rectangular, Rectangular Lot
Elementary school district
Lockport
Middle school district
Lockport
High school district
Lockport
Directions
S Transit to Robinson
Subdivision
Lockport-Town-292600
Standard status
Active
APN
292600-138-000-0001-044-000
Size
6,204 SF
Lot size
0.51 Acres
Taxes and HOA fees
Tax Annual Amount
9950
Utilities
Heating system
Electric (Heating), Baseboard
Water source
Public
Amenities
coin laundry
security camera system
secure tenant mailboxes
air conditioning
balcony
Building Details
Year built
1979
Floors in Building
3
Number of units
6
Building materials
Brick
Roof type
Asphalt
Listing Agency:
WNYbyOwner.com
(716) 523-8508
Listed By:
Robyn Sansone · License #10491209960
(716) 523-8508
Added: Jul 14
Changed: Aug 7
Last Checked: Aug 29 at 7:06PM
MLS# B1698704
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located in Lockport, NY, this 6-unit brick apartment property contains 6,204 square feet, 12 bedrooms, and 6 baths. Built in 1979, the building received a comprehensive renovation in 2023 that included the roof, windows, kitchens, bathrooms, flooring, doors, electric radiators, apartment A/C units, lighting, balcony components, and sound insulation. Commercial coin-operated laundry equipment, security cameras, secure tenant mailboxes, and a private parking lot are also included.
The property is fully occupied and sits on 0.51 acres. Seven separate electric meters serve the apartments and landlord/common areas, while public water serves the building. Exterior landscaping was completed in 2026, along with new carpeting in the rear hallway. Professional management is available from the current owner, including rent collection, tenant relations, maintenance, leasing, and day-to-day operations.
The property is fully occupied and sits on 0.51 acres. Seven separate electric meters serve the apartments and landlord/common areas, while public water serves the building. Exterior landscaping was completed in 2026, along with new carpeting in the rear hallway. Professional management is available from the current owner, including rent collection, tenant relations, maintenance, leasing, and day-to-day operations.
Key Highlights
- 6‑unit brick multifamily property with 6,204 sq ft, 12 bedrooms, and 6 baths
- Comprehensive 2023 renovation included roof, windows, kitchens, baths, flooring, lighting, and electric radiators
- 2026 exterior landscaping completed; rear hallway received new carpeting
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
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Updated kitchens, baths, windows, roof, and individual A/C units are installed throughout the apartments.
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: 6‑unit brick multifamily property with 6,204 sq ft, 12 bedrooms, and 6 baths; Comprehensive 2023 renovation included roof, windows, kitchens, baths, flooring, lighting, and electric radiators; 2026 exterior landscaping completed; rear hallway received new carpeting
