Updated Side-by-Side
For Sale
$479,900
7137 Witmer Rd, Wheatfield, NY 14120
Two residences offer separate basements, laundry areas, and outdoor space for flexible occupancy.
Property Size3,272 SF
Days on Market9
Property Features for 7137 Witmer Rd
General Information
Standard status
Active
Size
3,272 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$8,813
Building Details
Building Size
3,272 SF
Year Built
1991
Stories
2
Units
2
Listing Agency:
(716) 623-8512
Listed By:
Denise Cefalu
(716) 623-8512
Source:
Elliman
Added: Aug 12
Changed: Aug 13
Last Checked: Aug 19 at 1:26PM
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 Denise Cefalu
Investment Insights
Based on property information with market context.
This 3,272-square-foot duplex at 7137 Witmer Rd is arranged as two side-by-side residences, both updated for current use. The larger unit includes five bedrooms, an eat-in kitchen, living room, family room, and back porch. The second residence provides three bedrooms, an eat-in kitchen, living room, family room, and an attached one-car garage. Each unit has one full bathroom and one half bathroom.
Separate full dry basements serve the units, with dedicated laundry areas and storage. The property also includes a backyard adjoining woods, a deck, fire pit, and three storage sheds. Built in 1991, the duplex is located in Wheatfield, NY, and offers distinct living areas within a single multifamily property.
Separate full dry basements serve the units, with dedicated laundry areas and storage. The property also includes a backyard adjoining woods, a deck, fire pit, and three storage sheds. Built in 1991, the duplex is located in Wheatfield, NY, and offers distinct living areas within a single multifamily property.
Key Highlights
- 3,272 square feet side‑by‑side duplex at 7137 Witmer Rd, Wheatfield, NY 14120
- Unit 1 includes 5 bedrooms; Unit 2 includes 3 bedrooms
- Each unit has 1 full and 1 half bathroom
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
$28,736
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
5.99%
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%
$574,720
$574.7K
Cap Rate 7%
$410,514
$410.5K
Cap Rate 9%
$319,289
$319.3K
Market Conditions
NOI Build-Up for 3,272 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
$44.0K $13.44/SF
− Vacancy
−$2.9K −$0.89/SF
EGI
$41.1K $12.55/SF
− OpEx
−$12.3K −$3.76/SF
NOI
$28.7K $8.78/SF
Area
Niagara County, NY
Vacancy
6.65%
Lease Rate
$13.44 /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%
$574,720
Cap Rate 7%
$410,514
Cap Rate 9%
$319,289
Alternative Uses
Best Use
Multifamily LT 5
$410.5K
$359.2K – $478.9K
NOI $28,736 @ 7.0% cap · market cap 5.99%
Second Best
Apartment 5plus
$364.4K
$318.8K – $425.1K
NOI $25,506 @ 7.0% cap · market cap 5.31%
Theoretical Best
Warehouse
$2.78M
$2.43M – $3.24M
NOI $194,614 @ 7.0% cap · market cap 40.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Explore this area
Business Placement
Demographics for 14120, NY
44,538
Population
20,367
Households
2.2
Avg Household Size
45
Median Age
30%
College-Educated
94%
High-School Grad
32.6 sq mi
ZIP Area
1,366
Density / Sq Mi
$76,608
Median Household Income
$47,014
Median Earnings
$932
Median Rent
$205,300
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?
Duplex - Two residences offer separate basements, laundry areas, and outdoor space for flexible occupancy.
Where is this duplex located?
The property is located at 7137 Witmer Rd Wheatfield, NY.
What is the asking price?
The asking price for this property is $479,900.
What are key features of this property?
This property features: 3,272 square feet side‑by‑side duplex at 7137 Witmer Rd, Wheatfield, NY 14120; Unit 1 includes 5 bedrooms; Unit 2 includes 3 bedrooms; Each unit has 1 full and 1 half bathroom
