All-Brick Triplex with Owner's
For Sale
$599,900
720 Columbus Parkway, Buffalo, NY 14213
Historic triplex with two rear apartments and a spacious owner's residence.
Property Size4,655 SF
Days on Market13
Property Features for 720 Columbus Parkway
General Information
Standard status
Active
Size
4,655 SF
Property subtype
Multi Family
Taxes and HOA fees
Annual Taxes
$5,737
Building Details
Building Size
4,655 SF
Year Built
1890
Listing Agency:
WNY Metro Roberts Realty
(716) 407-0373
Listed By:
Susan L Mecca · License #10401232868
(716) 407-0373
Source:
Highfallssir
Added: Aug 12
Changed: Aug 17
Last Checked: Aug 24 at 3:25PM
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.
Built in 1890, this 4,655 sq. ft. all-brick triplex combines a substantial owner's residence with two additional apartments. The primary unit includes 3 bedrooms, 1.5 baths, first-floor laundry, an office or den, formal dining room, eat-in kitchen, fireplace, and generously scaled living areas. Hardwood floors, pocket doors, stained glass, wainscoting, crown molding, and other period details add character throughout. Each rear apartment offers 2 bedrooms and 1 bath.
Exterior amenities include a covered front porch, side garden with stone patio, and rear apartment deck. The property also includes a partially finished attic and full walkout basement with designated storage, laundry, and workshop areas. Major updates include a complete tear-off roof approximately 7 years ago, a 2022 boiler, newer windows, hardwired fire alarms, smart electric meters, and a whole-house water-pressure booster.
Located at 720 Columbus Parkway in Buffalo, the property is minutes from Downtown, Allentown, Elmwood Village, the waterfront, Peace Bridge, and I-190 access.
Exterior amenities include a covered front porch, side garden with stone patio, and rear apartment deck. The property also includes a partially finished attic and full walkout basement with designated storage, laundry, and workshop areas. Major updates include a complete tear-off roof approximately 7 years ago, a 2022 boiler, newer windows, hardwired fire alarms, smart electric meters, and a whole-house water-pressure booster.
Located at 720 Columbus Parkway in Buffalo, the property is minutes from Downtown, Allentown, Elmwood Village, the waterfront, Peace Bridge, and I-190 access.
Key Highlights
- 4,655 sq. ft. all‑brick 3‑unit property
- Owner's unit offers 3 bedrooms, 1.5 baths, laundry, office or den, fireplace, and formal dining room
- Two rear apartments, each with 2 bedrooms and 1 bath
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
$46,189
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
7.70%
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%
$923,780
$923.8K
Cap Rate 7%
$659,843
$659.8K
Cap Rate 9%
$513,211
$513.2K
Market Conditions
NOI Build-Up for 4,655 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
$69.8K $15.00/SF
− Vacancy
−$3.8K −$0.83/SF
EGI
$66.0K $14.17/SF
− OpEx
−$19.8K −$4.25/SF
NOI
$46.2K $9.92/SF
Area
Buffalo, NY
Vacancy
5.50%
Lease Rate
$15.00 /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%
$923,780
Cap Rate 7%
$659,843
Cap Rate 9%
$513,211
Alternative Uses
Best Use
Multifamily LT 5
$659.8K
$577.4K – $769.8K
NOI $46,189 @ 7.0% cap · market cap 7.70%
Second Best
Apartment 5plus
$607.8K
$531.8K – $709.1K
NOI $42,544 @ 7.0% cap · market cap 7.09%
Theoretical Best
Office A
$1.12M
$979.5K – $1.31M
NOI $78,360 @ 7.0% cap · market cap 13.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
748
Businesses Nearby
Explore this area
Business Placement
Demographics for 14213, NY
25,834
Population
11,397
Households
2.3
Avg Household Size
30
Median Age
36%
College-Educated
81%
High-School Grad
1.9 sq mi
ZIP Area
13,597
Density / Sq Mi
$52,597
Median Household Income
$36,084
Median Earnings
$1,059
Median Rent
$192,300
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?
Triplex - Historic triplex with two rear apartments and a spacious owner's residence.
Where is this triplex located?
The property is located at 720 Columbus Parkway Buffalo, NY.
What is the asking price?
The asking price for this property is $599,900.
What are key features of this property?
This property features: 4,655 sq. ft. all‑brick 3‑unit property; Owner's unit offers 3 bedrooms, 1.5 baths, laundry, office or den, fireplace, and formal dining room; Two rear apartments, each with 2 bedrooms and 1 bath
