Brick Four-Unit
New
For Sale
$399,900
6335 Robinson Rd South, Lockport, NY 14094
Four matching apartments offer two-bedroom layouts, private utilities, and shared laundry facilities.
Property Size4,304 SF
Days on Market4
Property Features for 6335 Robinson Rd South
General Information
Standard status
Active
Size
4,304 SF
Property subtype
Multi Family
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Additional Details
Gross Income
$40,560
Taxes and HOA fees
Annual Taxes
$6,439
Amenities
on-site coin-operated laundry
detached garage
patio
storage shed
covered patio
open patio area
Building Details
Building Size
4,304 SF
Year Built
1979
Stories
2
Units
4
Construction
brick
Listing Agency:
Howard Hanna WNY Inc.
(716) 691-5800
Listed By:
Louis S Rizzo · License #30RI0517290
(716) 691-5800
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 10:50AM
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 Howard Hanna WNY Inc.
Investment Insights
Based on property information with market context.
This 1979 brick quadplex contains four matching apartments, each arranged with 2 bedrooms, a dining area, 1.5 baths, and modern kitchen and bathroom finishes. Separate utilities support individual apartment operations, while an on-site coin-operated laundry adds convenience for residents.
The property also includes a 2.5-car detached garage, blacktop driveway, off-street parking, covered and open patio areas, a storage shed, and a backyard without rear neighbors. Located at 6335 Robinson Rd in South Lockport, the property is near Transit Road, shopping, restaurants, schools, medical facilities, entertainment, and major transportation routes. BikeScore is 48 and WalkScore is 34.
The property also includes a 2.5-car detached garage, blacktop driveway, off-street parking, covered and open patio areas, a storage shed, and a backyard without rear neighbors. Located at 6335 Robinson Rd in South Lockport, the property is near Transit Road, shopping, restaurants, schools, medical facilities, entertainment, and major transportation routes. BikeScore is 48 and WalkScore is 34.
Key Highlights
- Four matching apartments, each with 2 bedrooms, a dining area, and 1.5 baths
- All‑brick construction; built in 1979
- Separate utilities and on‑site coin‑operated laundry
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
$33,551
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
8.39%
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%
$671,020
$671.0K
Cap Rate 7%
$479,300
$479.3K
Cap Rate 9%
$372,789
$372.8K
Market Conditions
NOI Build-Up for 4,304 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
$65.6K $15.24/SF
− Vacancy
−$4.6K −$1.07/SF
EGI
$61.0K $14.17/SF
− OpEx
−$27.5K −$6.38/SF
NOI
$33.6K $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%
$671,020
Cap Rate 7%
$479,300
Cap Rate 9%
$372,789
Alternative Uses
Best Use
Multifamily LT 5
$540.0K
$472.5K – $630.0K
NOI $37,799 @ 7.0% cap · market cap 9.45%
Second Best
Apartment 5plus
$479.3K
$419.4K – $559.2K
NOI $33,551 @ 7.0% cap · market cap 8.39%
Theoretical Best
Warehouse
$3.66M
$3.20M – $4.27M
NOI $255,997 @ 7.0% cap · market cap 64.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
330
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?
Quadplex - Four matching apartments offer two-bedroom layouts, private utilities, and shared laundry facilities.
Where is this quadplex located?
The property is located at 6335 Robinson Rd South Lockport, NY.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Four matching apartments, each with 2 bedrooms, a dining area, and 1.5 baths; All‑brick construction; built in 1979; Separate utilities and on‑site coin‑operated laundry
