Multifamily Property with Multiple
For Sale
$1,100,000
75 Erie St, Tonawanda, NY 14150
Multiple residential buildings include townhome apartments, a duplex, and a two-bedroom unit.
Property Size11,184 SF
Days on Market51
Property Features for 75 Erie St
General Information
Standard status
Active
Size
11,184 SF
Property subtype
Investment
Additional Details
Multifamily Units
7
Taxes and HOA fees
Annual Taxes
$25,037
Amenities
pool
Koi pond
Building Details
Building Size
11,184 SF
Year Built
1992
Stories
1
Units
7
Listing Agency:
WNY METRO ROBERTS REALTY
Listed By:
Robert Liebeck · License #30LI0365104
(716) 622-2246
Source:
Elliman
Added: Sep 12
Changed: Oct 25
Last Checked: Nov 1 at 6:21AM
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
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Investment Insights
Based on property information with market context.
Located at 75 Erie St in Tonawanda, this multifamily property comprises several residential buildings on one premises. A former commercial building was converted into three townhome apartments and a studio apartment. The property also includes a side-by-side two-bedroom duplex with one-car garages and a separate two-bedroom unit with a two-car garage.
Outdoor improvements include a pool and Koi pond. The property is within walking distance of the Niagara River, with a walkScore of 69 and a bikeScore of 66. The buildings are identified with a 1992 year built, and the property has remained under family ownership for more than 60 years.
Outdoor improvements include a pool and Koi pond. The property is within walking distance of the Niagara River, with a walkScore of 69 and a bikeScore of 66. The buildings are identified with a 1992 year built, and the property has remained under family ownership for more than 60 years.
Key Highlights
- Three townhome apartments and one studio apartment in a converted commercial building
- Side‑by‑side 2 bedroom duplex with 1 car garages
- Separate 2 bedroom unit with a 2 car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,910
Cap Rate
6.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,438,200
$1.4M
Cap Rate 7%
$1,027,286
$1.0M
Cap Rate 9%
$799,000
$799.0K
Market Conditions
NOI Build-Up for 11,184 SF
Gross rent
$154.3K $13.80/SF
− Vacancy
−$51.6K −$4.61/SF
EGI
$102.7K $9.19/SF
− OpEx
−$30.8K −$2.76/SF
NOI
$71.9K $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 Rate 5%
$1,438,200
Cap Rate 7%
$1,027,286
Cap Rate 9%
$799,000
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$898.9K – $1.20M
NOI $71,910 @ 7.0% cap · market cap 6.54%
Second Best
Apartment 5plus
$922.5K
$807.2K – $1.08M
NOI $64,573 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$2.44M
$2.14M – $2.85M
NOI $171,142 @ 7.0% cap · market cap 15.56%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
294
Businesses Nearby
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Business Placement
Demographics for 14150, NY
41,161
Population
20,152
Households
2
Avg Household Size
43
Median Age
32%
College-Educated
95%
High-School Grad
14.9 sq mi
ZIP Area
2,762
Density / Sq Mi
$70,294
Median Household Income
$46,867
Median Earnings
$1,094
Median Rent
$181,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Multiple residential buildings include townhome apartments, a duplex, and a two-bedroom unit.
Where is this multifamily property located?
The property is located at 75 Erie St Tonawanda, NY.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Three townhome apartments and one studio apartment in a converted commercial building; Side‑by‑side 2 bedroom duplex with 1 car garages; Separate 2 bedroom unit with a 2 car garage
