Apartment Buildings with
New
For Sale
$1,100,000
75 Erie Street, Tonawanda, NY 14150
MultiFamily, Tonawanda, NY
Property Size11,184 SF
Lot Size0.93 Acres
Price / SF$98.35
Days on Market2
Property Features for 75 Erie Street
General Information
Property type
Commercial Sale
Property subtype
Other
Bedrooms
6
Rooms
Bedroom 1, Bedroom 6, Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 5
Parking features
Open
Exterior features
BlacktopDriveway, Pool
Appliances
Dishwasher, ElectricCooktop, GasWaterHeater, Refrigerator
Subdivision
Tonawanda
Lot features
Rectangular, Rectangular Lot, Residential Lot
Middle school
Tonawanda Middle
High school
Tonawanda Senior High
Elementary school district
Tonawanda City
Middle school district
Tonawanda City
High school district
Tonawanda City
Directions
from niagara street to wheeler or from main st to wheeler
Standard status
Active
APN
141600-052-080-0002-002-110
Size
11,184 SF
Lot size
0.93 Acres
Taxes and HOA fees
Tax Annual Amount
25037
Utilities
Heating system
Natural Gas, Forced Air, Hot Water(Heating)
Cooling system
Central Air
Water source
Public
Amenities
pool
Koi pond
Building Details
Year built
1992
Floors in Building
1
Number of units
7
Flooring type
Laminate, Tile, Carpet, Varies
Building materials
Brick, Frame, VinylSiding
Roof type
Shingle, Asphalt, Flat
Listing Agency:
WNY Metro Roberts Realty
(716) 875-2211
Listed By:
Robert Liebeck · License #30LI0365104
(716) 622-2246
Added: Sep 11
Changed: Sep 12
Last Checked: Sep 12 at 12:06PM
MLS# B1713797
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This apartment property comprises multiple residential buildings on 0.9308 acres, totaling 11,184 square feet. The improvements include three townhome apartments and a studio apartment in a converted commercial building, a side-by-side two-bedroom duplex with one-car garages, and a separate two-bedroom residence with a two-car garage. The property also includes a pool and Koi pond.
Constructed in 1992, the buildings feature brick, frame, and vinyl siding exteriors, with asphalt, shingle, and flat roof sections. Interior finishes include tile, laminate, carpet, and varied flooring. Mechanical features include forced-air and hot-water heating, natural gas, central air, and public water. The property is located in Tonawanda, NY, within walking distance of the Niagara River.
Constructed in 1992, the buildings feature brick, frame, and vinyl siding exteriors, with asphalt, shingle, and flat roof sections. Interior finishes include tile, laminate, carpet, and varied flooring. Mechanical features include forced-air and hot-water heating, natural gas, central air, and public water. The property is located in Tonawanda, NY, within walking distance of the Niagara River.
Key Highlights
- 11,184‑square‑foot apartment property on 0.9308 acres
- Three townhome apartments and one studio apartment in a converted commercial building
- Side‑by‑side two‑bedroom duplex with one‑car garages
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
$64,573
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
5.87%
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%
$1,291,460
$1.3M
Cap Rate 7%
$922,471
$922.5K
Cap Rate 9%
$717,478
$717.5K
Market Conditions
NOI Build-Up for 11,184 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
$181.2K $16.20/SF
− Vacancy
−$63.8K −$5.70/SF
EGI
$117.4K $10.50/SF
− OpEx
−$52.8K −$4.72/SF
NOI
$64.6K $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 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%
$1,291,460
Cap Rate 7%
$922,471
Cap Rate 9%
$717,478
Alternative Uses
Best Use
Apartment 5plus
$922.5K
$807.2K – $1.08M
NOI $64,573 @ 7.0% cap · market cap 5.87%
Second Best
—
—
no second resolved use
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.
Property Analytics
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Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
294
Businesses Nearby
Explore this area
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Multi-building residential property with varied apartment layouts, private garages, a pool, and a Koi pond near the Niagara River.
Where is this apartment building located?
The property is located at 75 Erie Street 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: 11,184‑square‑foot apartment property on 0.9308 acres; Three townhome apartments and one studio apartment in a converted commercial building; Side‑by‑side two‑bedroom duplex with one‑car garages
