Building Details

Building Size 1,972 SF

Year Built 1920

Listing Agency: WNY Metro Roberts Realty m***@gmail.com Show Phone

Listed By: Michelle McCulloch · License #10401355401 Show Phone

Source: Highfallssir

Added: May 26 Changed: Aug 15 Last Checked: Aug 15 at 12:03PM

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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 WNY Metro Roberts Realty

Investment Insights

Based on property information with market context.

This 1920 duplex property sits on approximately half an acre just outside the Village of Akron. The home contains two living spaces, retains original character, and has received updates over the years. Its layout could also be reconfigured as a single-family residence, subject to applicable requirements.

A large barn adds substantial utility for garage space, storage, hobbies, or workshop use. Separate utilities serve the residential areas, while municipal water and sewer are in place. The combination of a two-family configuration, flexible outbuilding, and spacious lot supports a range of residential ownership arrangements, including owner occupancy or multi-generational use.

Key Highlights

• Duplex property built in 1920
• Approximately half an acre
• Large barn for garage, storage, hobbies, or workshop use

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

$12,679

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

3.90%

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%

$253,580 $253.6K

Cap Rate 7%

$181,129 $181.1K

Cap Rate 9%

$140,878 $140.9K

Market Conditions

NOI Build-Up for 1,972 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

$27.2K $13.80/SF

− Vacancy

−$9.1K −$4.61/SF

EGI

$18.1K $9.19/SF

− OpEx

−$5.4K −$2.76/SF

NOI

$12.7K $6.43/SF

Area

Erie County, NY

Vacancy

33.44%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

30.00%

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%

$253,580

Cap Rate 7%

$181,129

Cap Rate 9%

$140,878

Alternative Uses

Best Use

Multifamily LT 5

$181.1K

$158.5K – $211.3K (±1% cap)

NOI $12,679 @ 7.0% cap · market cap 3.90%

Second Best

Apartment 5plus

$162.7K

$142.3K – $189.8K (±1% cap)

NOI $11,386 @ 7.0% cap · market cap 3.50%

Theoretical Best

Office A

$431.1K

$377.2K – $502.9K (±1% cap)

NOI $30,176 @ 7.0% cap · market cap 9.28%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Law Firm Dental Office Nail Salon Auto Parts Store Auto Repair Shop Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

44

Businesses Nearby

Explore this area Business Placement

Demographics for 14001, NY

9,482

Population

4,477

Households

2.1

Avg Household Size

47

Median Age

26%

College-Educated

91%

High-School Grad

64.5 sq mi

ZIP Area

147

Density / Sq Mi

$73,786

Median Household Income

$46,220

Median Earnings

$744

Median Rent

$221,000

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Duplex - Two living spaces and a large barn provide flexible residential, storage, and workshop functionality.

Where is this duplex located?

The property is located at 6748 Cedar Street Newstead, NY.

What is the asking price?

The asking price for this property is $325,000.

What are key features of this property?

This property features: Duplex property built in 1920; Approximately half an acre; Large barn for garage, storage, hobbies, or workshop use