Mixed-Use Property With
For Sale
$499,900
6848 Erie Road, Derby, NY 14047
Residential, Derby, NY
Property Size3,036 SF
Lot Size0.68 Acres
Price / SF$164.66
Days on Market99
Property Features for 6848 Erie Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 2, Bathroom 1, Bedroom 1
Patio and Porch features
Deck
Interior features
CeilingFans
Exterior features
Deck
Appliances
GasWaterHeater
Lot features
Corner Lot, Rectangular, Rectangular Lot
Elementary school
Highland Elementary
Middle school
Lake Shore Central Middle
High school
Lake Shore Senior High
Elementary school district
Lake Shore (Evans-Brant)
Middle school district
Lake Shore (Evans-Brant)
High school district
Lake Shore (Evans-Brant)
Subdivision
Evans-144489
Standard status
Active
APN
144489-192-200-0009-009-000
Size
3,036 SF
Lot size
0.68 Acres
Taxes and HOA fees
Tax Annual Amount
7607
Utilities
Heating system
Natural Gas, Baseboard
Water source
Public
Amenities
Quick Draw
Lottery machines
Building Details
Year built
1960
Floors in Building
2
Number of units
1
Flooring type
Varies, Carpet
Building materials
VinylSiding
Roof type
Membrane, Asphalt, Rubber
Listing Agency:
WNY Metro Roberts Realty
(716) 947-5555
Listed By:
Kimberly Hulburd · License #40HU0735049
(716) 725-8725
Added: May 28
Changed: Sep 2
Last Checked: Sep 3 at 5:06PM
MLS# B1685490
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.
This mixed-use property combines an operating bar and restaurant with an attached residential component. The commercial layout includes a bar area, dining room, kitchen, storage and office space, plus a covered deck. Existing equipment includes an 18-foot bar top, kitchen equipment, and an updated walk-in cooler. Central air, forced-air heating, and two-zone baseboard heating support the building, which has vinyl siding and public water service.
The property occupies a corner lot at 6848 Erie Road in Derby, New York, with a blacktop parking area accommodating approximately 35 vehicles. The residential portion provides an 800-square-foot, two-bedroom apartment with newer windows and a private deck. Built in 1960, the building also features asphalt, rubber, and membrane roofing materials.
The property occupies a corner lot at 6848 Erie Road in Derby, New York, with a blacktop parking area accommodating approximately 35 vehicles. The residential portion provides an 800-square-foot, two-bedroom apartment with newer windows and a private deck. Built in 1960, the building also features asphalt, rubber, and membrane roofing materials.
Key Highlights
- Operating bar and restaurant with 45 years of documented operation
- 3,036‑square‑foot building on a 0.6775‑acre corner lot
- Commercial layout includes an 18x28 bar, 30x30 dining room, 29x11 kitchen, and 20x20 storage/office area
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
$36,560
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
7.31%
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%
$731,200
$731.2K
Cap Rate 7%
$522,286
$522.3K
Cap Rate 9%
$406,222
$406.2K
Market Conditions
NOI Build-Up for 3,036 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
$54.6K $18.00/SF
− Vacancy
−$5.9K −$1.94/SF
EGI
$48.7K $16.06/SF
− OpEx
−$12.2K −$4.01/SF
NOI
$36.6K $12.04/SF
Area
Erie County, NY
Vacancy
10.80%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$731,200
Cap Rate 7%
$522,286
Cap Rate 9%
$406,222
Alternative Uses
Best Use
Specialty Retail
$522.3K
$457.0K – $609.3K
NOI $36,560 @ 7.0% cap · market cap 7.31%
Second Best
Mixed Use
$407.4K
$356.5K – $475.3K
NOI $28,519 @ 7.0% cap · market cap 5.70%
Theoretical Best
Office A
$663.7K
$580.7K – $774.3K
NOI $46,458 @ 7.0% cap · market cap 9.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Turnkey business
Opportunity
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
257
Businesses Nearby
Explore this area
Business Placement
Demographics for 14047, NY
6,152
Population
2,707
Households
2.3
Avg Household Size
47
Median Age
19%
College-Educated
91%
High-School Grad
13.1 sq mi
ZIP Area
470
Density / Sq Mi
$76,525
Median Household Income
$45,546
Median Earnings
$964
Median Rent
$180,800
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes restaurant facilities and a two-bedroom apartment.
Where is this mixed-use property located?
The property is located at 6848 Erie Road Derby, NY.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Operating bar and restaurant with 45 years of documented operation; 3,036‑square‑foot building on a 0.6775‑acre corner lot; Commercial layout includes an 18x28 bar, 30x30 dining room, 29x11 kitchen, and 20x20 storage/office area
