Triplex Property with Owner’s
For Sale
$594,900
7428 Genesee Road, Springville, NY 14141
Three-unit property with an additional two-bedroom residence, attached garage, storage, and flexible owner-occupancy potential.
Property Size4,084 SF
Lot Size3.00 Acres
Days on Market167
Property Features for 7428 Genesee Road
General Information
Standard status
Active
Size
4,084 SF
Total Parking Spaces
1
Lot size
3.00 Acres
Property subtype
Multi Family Home
Units
Unit Mix
2 x 2BR/2BA, 1 x 2BR
Multifamily Units
3
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$9,257
Amenities
laundry area
Building Details
Building Size
4,084 SF
Year Built
2001
Stories
2
Units
3
Listing Agency:
HUNT Real Estate Corporation
(716) 572-2796
Listed By:
Geralyn Bonilla
(716) 572-2796
Source:
Dealrealtyonline
Added: Mar 18
Changed: Aug 29
Last Checked: Aug 30 at 5:33PM
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 HUNT Real Estate Corporation
Investment Insights
Based on property information with market context.
Built in 2001 on a 3-acre parcel, this triplex includes two side units, each configured with 2 bedrooms and 2 bathrooms, plus an attached one-car garage. A separate two-bedroom addition provides an additional residential component that can serve as an owner’s residence. The interiors feature open living areas, SmartCore flooring throughout the main living spaces, generous room dimensions, and dedicated storage. A heated utility room also functions as the laundry area.
The property is located on Genesee Road in Springville, New York, with access to Route 219 within minutes. Showings require an appointment with a minimum of 48 hours’ advance notice, and special conditions apply.
The property is located on Genesee Road in Springville, New York, with access to Route 219 within minutes. Showings require an appointment with a minimum of 48 hours’ advance notice, and special conditions apply.
Key Highlights
- Triplex built in 2001 on a 3‑acre lot
- Two side units, each with 2 bedrooms and 2 bathrooms
- Separate two‑bedroom addition suitable for an owner’s residence
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
$26,259
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
4.41%
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%
$525,180
$525.2K
Cap Rate 7%
$375,129
$375.1K
Cap Rate 9%
$291,767
$291.8K
Market Conditions
NOI Build-Up for 4,084 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
$56.4K $13.80/SF
− Vacancy
−$18.8K −$4.61/SF
EGI
$37.5K $9.19/SF
− OpEx
−$11.3K −$2.76/SF
NOI
$26.3K $6.43/SF
Area
Erie County, NY
Vacancy
33.44%
Lease Rate
$13.80 /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%
$525,180
Cap Rate 7%
$375,129
Cap Rate 9%
$291,767
Alternative Uses
Best Use
Multifamily LT 5
$375.1K
$328.2K – $437.7K
NOI $26,259 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$336.9K
$294.8K – $393.0K
NOI $23,580 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$892.8K
$781.2K – $1.04M
NOI $62,495 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 14141, NY
7,585
Population
3,675
Households
2.1
Avg Household Size
45
Median Age
28%
College-Educated
93%
High-School Grad
72.3 sq mi
ZIP Area
105
Density / Sq Mi
$71,837
Median Household Income
$48,453
Median Earnings
$738
Median Rent
$195,800
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 - Three-unit property with an additional two-bedroom residence, attached garage, storage, and flexible owner-occupancy potential.
Where is this triplex located?
The property is located at 7428 Genesee Road Springville, NY.
What is the asking price?
The asking price for this property is $594,900.
What are key features of this property?
This property features: Triplex built in 2001 on a 3‑acre lot; Two side units, each with 2 bedrooms and 2 bathrooms; Separate two‑bedroom addition suitable for an owner’s residence
