Multifamily Building with Basement
72 Union St, Hamburg, NY 14075
For Sale
New
$1,500,000
Residences include two bedrooms, one full bath, and two parking spaces each.
Property Size14,232 SF
Days on Market5
Property Features for 72 Union St
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Parking per Unit
Taxes and HOA fees
Annual Taxes
Amenities
basement storage
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Century 21 North East
Listed By:
Michael P Kaney · License #30KA0512480
(716) 870-5726
Source:
Elliman
Added: Nov 3
Changed: Nov 6
Last Checked: Nov 6 at 10:19AM
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 Century 21 North East
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Investment Insights
Based on property information with market context.
Built in 1968, this multifamily property has residences with two bedrooms and one full bathroom each. Basement storage serves the building, and the roof has been replaced more recently than the original construction. Gas is included in the rent.
The property is within walking distance of Hamburg’s central business district and nearby conveniences. Its Walk Score is 73 and Bike Score is 54.
The property is within walking distance of Hamburg’s central business district and nearby conveniences. Its Walk Score is 73 and Bike Score is 54.
Key Highlights
- Every residence has 2 bedrooms and 1 full bathroom
- 2 parking spaces per residence
- Basement storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$82,171
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,643,420
$1.6M
Cap Rate 7%
$1,173,871
$1.2M
Cap Rate 9%
$913,011
$913.0K
Market Conditions
NOI Build-Up for 14,232 SF
Gross rent
$230.6K $16.20/SF
− Vacancy
−$81.2K −$5.70/SF
EGI
$149.4K $10.50/SF
− OpEx
−$67.2K −$4.72/SF
NOI
$82.2K $5.77/SF
Area
Erie County, NY
Vacancy
35.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,643,420
Cap Rate 7%
$1,173,871
Cap Rate 9%
$913,011
Alternative Uses
Best Use
Apartment 5plus
$1.17M
$1.03M – $1.37M
NOI $82,171 @ 7.0% cap · market cap 5.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.11M
$2.72M – $3.63M
NOI $217,784 @ 7.0% cap · market cap 14.52%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
892
Businesses Nearby
Explore this area
Business Placement
Demographics for 14075, NY
44,053
Population
20,164
Households
2.2
Avg Household Size
46
Median Age
38%
College-Educated
96%
High-School Grad
39.4 sq mi
ZIP Area
1,118
Density / Sq Mi
$82,083
Median Household Income
$50,934
Median Earnings
$1,129
Median Rent
$246,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Multifamily properties in Erie County, NY
Properties on Market for Multifamily properties in Erie County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Residences include two bedrooms, one full bath, and two parking spaces each.
Where is this multifamily property located?
The property is located at 72 Union St Hamburg, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Every residence has 2 bedrooms and 1 full bathroom; 2 parking spaces per residence; Basement storage
