Mixed-Use Property with
New
For Sale
$389,900
7501 Seneca Street, Elma, NY 14052
C-1 zoning supports residential and commercial use across a one-acre parcel.
Property Size1,872 SF
Lot Size1.00 Acre
Days on Market7
Property Features for 7501 Seneca Street
General Information
Standard status
Active
Size
1,872 SF
Lot size
1.00 Acre
Property subtype
COMMERCIAL
Zoning
C-1
Taxes and HOA fees
Annual Taxes
$4,057
Building Details
Building Size
1,872 SF
Year Built
1876
Year Renovated
2024
Listing Agency:
Element Realty Services
Listed By:
Mandy A Carl · License #40CA1116613
(716) 870-8732
Source:
Highfallssir
Added: Sep 29
Changed: Oct 3
Last Checked: Oct 4 at 3:55PM
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 Element Realty Services
Investment Insights
Based on property information with market context.
This one-acre property combines a three-bedroom, two-bath residence with separate commercial space. An enclosed porch links the two areas. The commercial portion was remodeled in 2024 and includes a half bath, mini-split heating and cooling, and a new electrical panel. The home has been refurbished and remodeled, and an oversized 2 1/2-car garage provides additional storage and parking.
Improvements include siding installed in 2025, replacement windows and upgraded insulation in 2024, and a new deck in 2024. Sidewalk work took place in 2024 and 2026; 2026 exterior work also included landscaping, driveway top-dressing, and a new garage roof and doors. C-1 zoning supports residential and commercial use. Replacing the garage with a commercial or accessory building of up to 3,000 square feet is a possibility, subject to zoning, permits, and approvals.
Improvements include siding installed in 2025, replacement windows and upgraded insulation in 2024, and a new deck in 2024. Sidewalk work took place in 2024 and 2026; 2026 exterior work also included landscaping, driveway top-dressing, and a new garage roof and doors. C-1 zoning supports residential and commercial use. Replacing the garage with a commercial or accessory building of up to 3,000 square feet is a possibility, subject to zoning, permits, and approvals.
Key Highlights
- One‑acre parcel with C‑1 zoning
- Three‑bedroom, two‑bath residence and connected commercial space
- Commercial area remodeled in 2024; includes half bath, mini‑split system, and new electrical panel
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
$23,457
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
6.02%
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%
$469,140
$469.1K
Cap Rate 7%
$335,100
$335.1K
Cap Rate 9%
$260,633
$260.6K
Market Conditions
NOI Build-Up for 1,872 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
$38.2K $20.40/SF
− Vacancy
−$6.9K −$3.69/SF
EGI
$31.3K $16.71/SF
− OpEx
−$7.8K −$4.18/SF
NOI
$23.5K $12.53/SF
Area
Erie County, NY
Vacancy
18.10%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
25.00%
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%
$469,140
Cap Rate 7%
$335,100
Cap Rate 9%
$260,633
Alternative Uses
Best Use
Office B
$335.1K
$293.2K – $391.0K
NOI $23,457 @ 7.0% cap · market cap 6.02%
Second Best
Mixed Use
$251.2K
$219.8K – $293.1K
NOI $17,585 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$409.2K
$358.1K – $477.4K
NOI $28,646 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
27
Businesses Nearby
Explore this area
Business Placement
Demographics for 14052, NY
17,679
Population
7,603
Households
2.3
Avg Household Size
47
Median Age
47%
College-Educated
96%
High-School Grad
61.2 sq mi
ZIP Area
289
Density / Sq Mi
$103,474
Median Household Income
$57,093
Median Earnings
$992
Median Rent
$312,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Northeast region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - C-1 zoning supports residential and commercial use across a one-acre parcel.
Where is this mixed-use property located?
The property is located at 7501 Seneca Street Elma, NY.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: One‑acre parcel with C‑1 zoning; Three‑bedroom, two‑bath residence and connected commercial space; Commercial area remodeled in 2024; includes half bath, mini‑split system, and new electrical panel
