New
For Sale
$199,900
7883 Thayer Road, Portland, NY 14769
Land, Portland, NY
Property Size1,375 SF
Lot Size30.50 Acres
Price / SF$145.38
Days on Market3
Property Features for 7883 Thayer Road
General Information
Property type
Land
Property subtype
Single Family Residence
Parking features
Garage
Vegetation
Wooded
Interior features
LivingDiningRoom, SlidingGlassDoors
Exterior features
GravelDriveway
Lot features
Rectangular, Rectangular Lot, Residential Lot, Rural Lot, Gentle Sloping, Wooded
View
Water
Elementary school district
Brocton
Middle school district
Brocton
High school district
Brocton
Directions
Route 20 to Prospect Station. South on Prospect Station to Woleben Rd. Left on Woleben Rd to Thayer Rd. Turn right on Thayer Rd. to the property on your right. Across the street from Luensman Overview Park. Look for HHH sign.
Subdivision
Portland-066089
Standard status
Active
APN
066089-195-000-0002-021-001
Size
1,375 SF
Lot size
30.50 Acres
Taxes and HOA fees
Tax Annual Amount
5552
Utilities
Sewer type
Septic Tank
Water source
Spring
Water front features
Lake
Water front
1
Building Details
Year built
2008
Floors in Building
1
Flooring type
Tile, Varies
Building materials
PexPlumbing
Roof type
Metal
Architectural style
Ranch
Additional Structures
Shed(s)
Listing Agency:
Howard Hanna Holt - Mayville
(716) 753-7880
Listed By:
Brandi Russo · License #10401282195
(702) 592-7263
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 2 at 1:06PM
MLS# R1710945
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.
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
$10,410
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
5.21%
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%
$208,200
$208.2K
Cap Rate 7%
$148,714
$148.7K
Cap Rate 9%
$115,667
$115.7K
Market Conditions
NOI Build-Up for 1,375 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
$21.8K $15.84/SF
− Vacancy
−$2.9K −$2.08/SF
EGI
$18.9K $13.76/SF
− OpEx
−$8.5K −$6.19/SF
NOI
$10.4K $7.57/SF
Area
Chautauqua County, NY
Vacancy
13.10%
Lease Rate
$15.84 /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%
$208,200
Cap Rate 7%
$148,714
Cap Rate 9%
$115,667
Alternative Uses
Best Use
Apartment 5plus
$148.7K
$130.1K – $173.5K
NOI $10,410 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$411.6K
$360.1K – $480.2K
NOI $28,809 @ 7.0% cap · market cap 14.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2
Businesses Nearby
Explore this area
Business Placement
Demographics for 14769, NY
948
Population
380
Households
2.5
Avg Household Size
45
Median Age
23%
College-Educated
85%
High-School Grad
9.0 sq mi
ZIP Area
105
Density / Sq Mi
$60,132
Median Household Income
$33,578
Median Earnings
$632
Median Rent
$162,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
Where is this single family property located?
The property is located at 7883 Thayer Road Portland, NY.
What is the asking price?
The asking price for this property is $199,900.
