Multifamily
New
For Sale
$139,900
7 Union St, Fredonia, NY 14063
Constructed in 1910, the property is in a car-dependent area with somewhat bikeable conditions.
Property Size1,248 SF
Days on Market4
Property Features for 7 Union St
General Information
Standard status
Active
Size
1,248 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$2,422
Building Details
Building Size
1,248 SF
Year Built
1910
Stories
2
Units
2
Listing Agency:
Steiger Realty
(716) 536-8606
Listed By:
Nathan Steiger
(716) 536-8606
Source:
Elliman
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 24 at 7:08AM
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 Steiger Realty
Investment Insights
Based on property information with market context.
This multifamily property was constructed in 1910. The asset is located at 7 Union St in Pomfret, NY 14063.
Transportation scores indicate a car-dependent setting, with a Walk Score of 26 and a Bike Score of 37, classified as Somewhat Bikeable.
Transportation scores indicate a car-dependent setting, with a Walk Score of 26 and a Bike Score of 37, classified as Somewhat Bikeable.
Key Highlights
- Multifamily property at 7 Union St, Pomfret, NY 14063
- Constructed in 1910
- Walk Score: 26, Car‑Dependent
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
$9,448
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
6.75%
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%
$188,960
$189.0K
Cap Rate 7%
$134,971
$135.0K
Cap Rate 9%
$104,978
$105.0K
Market Conditions
NOI Build-Up for 1,248 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
$19.8K $15.84/SF
− Vacancy
−$2.6K −$2.08/SF
EGI
$17.2K $13.76/SF
− OpEx
−$7.7K −$6.19/SF
NOI
$9.4K $7.57/SF
Area
Chautauqua County, NY
Vacancy
13.10%
Lease Rate
$15.84 /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%
$188,960
Cap Rate 7%
$134,971
Cap Rate 9%
$104,978
Alternative Uses
Best Use
Apartment 5plus
$135.0K
$118.1K – $157.5K
NOI $9,448 @ 7.0% cap · market cap 6.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$373.5K
$326.9K – $435.8K
NOI $26,148 @ 7.0% cap · market cap 18.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
Explore this area
Business Placement
Demographics for 14063, NY
13,028
Population
5,861
Households
2.2
Avg Household Size
34
Median Age
40%
College-Educated
95%
High-School Grad
50.9 sq mi
ZIP Area
256
Density / Sq Mi
$55,629
Median Household Income
$27,358
Median Earnings
$852
Median Rent
$178,500
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?
Multifamily property - Constructed in 1910, the property is in a car-dependent area with somewhat bikeable conditions.
Where is this multifamily property located?
The property is located at 7 Union St Fredonia, NY.
What is the asking price?
The asking price for this property is $139,900.
What are key features of this property?
This property features: Multifamily property at 7 Union St, Pomfret, NY 14063; Constructed in 1910; Walk Score: 26, Car‑Dependent
